22 Jan 05:55

Did Ireland really have a housing bubble?

by Tyler Cowen

Ireland was not a story of overbuilding caused by laissez-faire policy, or an experience that defied standard economics. Ireland built very few ghost towns – housing excesses, where they occurred, were a product of government tax policy, rather than irrational markets. And supply and demand perform very well in explaining the trends.

And:

How on earth, you might ask, has Ireland ended up with almost all parts of its policy system trying to get lots more housing built – but the key cogwheel doing its utmost to hold new housing back? The answer, ironically, is Ireland’s own policymakers falling for the myths of the last bubble. It seems that the key personnel of the OPR believe the north-west of the country built too many homes in the 2000s because of state inattention and a wayward market, rather than as the result of extraordinary state effort to bring about that outcome. Without those reliefs, there is now little risk that new homes will be built where there is no long-term need.

Here is more from Ronan Lyons at Works in Progress, volume 6.  Irish housing is for the most part very expensive today. Dublin is one of the most expensive rental markets in the world.  Here is the 2019 NYT on the housing crisis in Ireland:

Homeownership has dropped, evictions and homelessness have climbed sharply, surging demand for rental units has led to a shortage, and soaring rents are fodder for daily conversation, political campaigns and street protests.

So perhaps we should speak of the Irish housing panic of the downturn rather than the bubble of the upturn?  The full history here remains to be written.  Somehow these are episodes most commentators do not wish to revisit.

The post Did Ireland really have a housing bubble? appeared first on Marginal REVOLUTION.

22 Jan 03:19

Saturday Morning Breakfast Cereal - Happiness

by tech@thehiveworks.com


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23 Jan 14:25

Longitude

https://www.oglaf.com/longitude/

22 Jan 04:35

Saturday Morning Breakfast Cereal - Happiness

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22 Jan 12:37

This 22-year-old builds chips in his parents’ garage

by WIRED
Sam Zeloof completed this homemade computer chip with 1,200 transistors, seen under a magnifying glass, in August 2021.

Enlarge / Sam Zeloof completed this homemade computer chip with 1,200 transistors, seen under a magnifying glass, in August 2021. (credit: Sam Kang)

In August, chipmaker Intel revealed new details about its plan to build a “mega-fab” on US soil, a $100 billion factory where 10,000 workers will make a new generation of powerful processors studded with billions of transistors. The same month, 22-year-old Sam Zeloof announced his own semiconductor milestone. It was achieved alone in his family’s New Jersey garage, about 30 miles from where the first transistor was made at Bell Labs in 1947.

With a collection of salvaged and homemade equipment, Zeloof produced a chip with 1,200 transistors. He had sliced up wafers of silicon, patterned them with microscopic designs using ultraviolet light, and dunked them in acid by hand, documenting the process on YouTube and his blog. “Maybe it’s overconfidence, but I have a mentality that another human figured it out, so I can too, even if maybe it takes me longer,” he says.

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22 Jan 13:30

1252: Tied Up Nicely

http://www.giantitp.com/comics/oots1252.html
21 Jan 19:30

Have a Cozy Weekend.

by Joanna Goddard

snowy Brooklyn photo by Griffin Ungar

What are you up to this weekend? Omg the comments on this post were AMAZING, I could read them all day, every day, forever. Thank you so much.… Read more

The post Have a Cozy Weekend. appeared first on Cup of Jo.

23 Jan 09:46

Longitude

https://www.oglaf.com/longitude/

22 Jan 08:11

Comic for January 22, 2022

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22 Jan 18:39

Saturday Morning Breakfast Cereal - Condom

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22 Jan 14:38

What happens if a space elevator breaks

by WIRED
What happens if a space elevator breaks

Enlarge (credit: TCD | Prod.DB | Apple TV+/ | lamy)

In the first episode of the Foundation series on Apple TV, we see a terrorist try to destroy the space elevator used by the Galactic Empire. This seems like a great chance to talk about the physics of space elevators and to consider what would happen if one exploded. (Hint: It wouldn't be good.)

People like to put stuff beyond the Earth's atmosphere: It allows us to have weather satellites, a space station, GPS satellites, and even the James Webb Space Telescope. But right now, our only option for getting stuff into space is to strap it to a controlled chemical explosion that we usually call "a rocket."

Don't get me wrong, rockets are cool, but they are also expensive and inefficient. Let's consider what it takes to get a 1-kilogram object into low Earth orbit (LEO). This is around 400 kilometers above the surface of the Earth, about where the International Space Station is. In order to get this object into orbit, you need to accomplish two things. First, you need to lift it up 400 kilometers. But if you only increased the object’s altitude, it wouldn't be in space for long. It would just fall back to Earth. So, second, in order to keep this thing in LEO, it has to move—really fast.

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23 Jan 08:02

Comic for January 23, 2022

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22 Jan 18:22

A white supremacist website got hacked, airing all its dirty laundry

by Dan Goodin
Patriot Front members spray painting in Springfield, Illinois.

Enlarge / Patriot Front members spray painting in Springfield, Illinois. (credit: Unicornriot.ninja)

Chat messages, images, and videos leaked from the server of a white supremacist group called the Patriot Front purport to show its leader and rank-and-file members conspiring in hate crimes, despite their claims that they were a legitimate political organization.

Patriot Front, or PF, formed in the aftermath of the 2017 Unite the Right rally, a demonstration in Charlottesville, Virginia, where one of the attendees rammed his car into a crowd of counter-protesters, killing one and injuring 35 others. PF founder Thomas Rousseau started the group after an image posted online showed the now-convicted killer, James Alex Fields, Jr., posing with members of white supremacist group Vanguard America shortly before the attack. Vanguard America soon dissolved, and Rousseau rebranded it as PF with the goal of hiding any involvement in violent acts.

Since then, PF has strived to present itself as a group of patriots who are aligned with the ideals and values of the founders who defeated the tyranny of the British in the 18th century and paved the way for the United States to be born. In announcing the formation of PF in 2017, Rousseau wrote:

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