The ergodic hypothesis is a key analytical device of equilibrium statistical mechanics. It underlies the assumption that the time average and the expectation value of an observable are the same. Where it is valid, dynamical descriptions can often be replaced with much simpler probabilistic ones — time is essentially eliminated from the models. The conditions for validity are restrictive, even more so for non-equilibrium systems. Economics typically deals with systems far from equilibrium — specifically with models of growth. It may therefore come as a surprise to learn that the prevailing formulations of economic theory — expected utility theory and its descendants — make an indiscriminate assumption of ergodicity. This is largely because foundational concepts to do with risk and randomness originated in seventeenth-century economics, predating by some 200 years the concept of ergodicity, which arose in nineteenth-century physics. In this Perspective, I argue that by carefully addressing the question of ergodicity, many puzzles besetting the current economic formalism are resolved in a natural and empirically testable way.
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Ergodic theory is a forbiddingly technical branch of mathematics. ❧
It’s supremely sad that a paper in Nature should “math shame” ergodic theory this way. What the hell is going on?
swentelItalic Type is the simplest way to track your books, get trusted recommendations, and share the joy of reading with friends.
An interesting new competitor to Goodreads and Library Thing on the scene. The functionality is very limited in scope at present, but it’s rather pretty looking. Not nearly as fine grained as Goodreads in terms of data, but a good start.
I’ll have to look into the ease/value of starting into yet-another book silo though. I’d only really use it if I can get it to dovetail with posting to my own website as a syndication target (POSSE), or if I can use it to syndicate to my own site (PESOS).
Yorba is encrypted, secure and the last profile and login you’ll ever need. Verify and catalog all dimensions of you—across your personal and professional life.
ᔥ in #dev 2020-12-15 ()
The story passed down for generations was that the wealthy Quaker merchant Johns Hopkins was also an abolitionist. After he died in 1873, his multi-million-dollar bequest for the university and hospital bearing his name seemed an extension of an enlightened vision. So the discovery of census records that Hopkins owned enslaved people—one in 1840, four a decade later … is shocking. Hopkins president asked Professor Martha S. Jones, an authority on African-American history, to lead continuing research about the founder’s links to slavery. We ask why it’s important.
I’ve bookmarked the audio file to listen to shortly. Depressing that after all these years of thinking of him as an abolitionist that he apparently had slaves. Can’t wait to hear Dr. Jones’ research and thoughts.
Sounds interesting. Curious to see how I might work this into my own personal website.
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On Tax Day, here’s a guide to arguing with libertarians about redistribution.
Ben Dwyer (ThemeShaper)The rationale With Full Site Editing on the horizon for WordPress, Theme creators need to start to learn how to make themes in a different way. Full Site Editing is sea change in the way that themes work. When Themes were first added to WordPress, they were simple; just a few template files and some...
This makes it seem like new themes with Gutenberg may be easier than I would have suspected? I may have to try this out soon, though I should also look at some of the newer themes that are out that use similar set ups.
By design, Brave Today doesn't let the company or third parties build user profiles.
Another reminder that I want to move away from Chrome very soon, but need to make some time to move over some infrastructure I use regularly.
Judith Jarvis Thomson was one of the most important philosophers of the twentieth century. Her justly famous essay in defense of abortion rights is a model for how to combine philosophical rigor with political engagement in the real world.
Interesting article. I’ll have to look at some other material Jacobin is putting out. Definitely a bit further to the left than is my usual taste, but seems generally well edited and topically interesting.
Properties that are not descendants of an element with the itemscope attribute can be associated with an item using the global attribute itemref. itemref provides a list of element IDs (not itemids) elsewhere in the document, with additional properties The itemref attribute can only be specified on elements that have an itemscope attribute specified.
ᔥ in #microformats 2020-12-14 ()
The current microformats include pattern offers two methods — using <object> or <a> — to include in a microformat element parts of a document that are outside of that microformats element's DOM tree. Both patterns have problems, and have not been widely adopted. Also, the include pattern has not been updated for microformats 2. This page is a proposal for a new include pattern using a custom element without any semantics.
ᔥ in #microformats 2020-12-14 ()
‘The Power Broker,’ a biography by Robert Caro, has become a must-have prop for numerous politicians and reporters appearing on camera from home.
This is kind of awesome. I wonder how many people have honestly read it all though? I’m probably due for a re-read myself, though, as always, I wish there were a digital version I could more easily annotate as I do.