Squatting: A Radical and Effective Calf Stretch

I have been inspired by pictures like the one above to use squatting as a radical and effective calf stretch. When I have time, I take 10 minutes before a walk to use a meditation app (in my case “10% Happier”) or read texts, while squatting with my back to the wall so I don’t fall over. As you can see, unlike the Hadza shown above, my heels don’t touch the ground, making it harder to balance without leaning against something. I hope to someday have my heels touch the ground, but it will probably take me years.

I should be clear that I am relaxing everything while doing this stretch. My heels are off the floor because the relevant calf muscles and tendons are still shorter than they should be, taking the Hadza as an indication of the original human design.

Doing mindfulness meditation goes well with doing this stretch because there is some mild discomfort. One part of mindfulness meditation is accepting mild discomfort; I would rather that the mild discomfort I am learning to accept is something useful like stretching my calves than something not particularly useful, like an itch.

You will want to start with much less than 10 minutes. To begin with, I did only a few minutes. Then I worked up to longer when it seemed a shorter time wasn’t challenging enough and I could go further.

I can really feel the difference after doing this stretch, which is much more conducive to multitasking than alternative, much less effective stretches.

Postscript: You can see that I have a goal of wearing out old clothes by wearing them on days I am not going up to campus :)


For annotated links to other posts on diet and health, see:

Analyzing the Great Depression Using Supply and Demand for the Monetary Base

This is a pair of videos I made for my “Intermediate Macro” students in the early days of the pandemic in 2020. They proved to me that teaching the money multiplier is 100% unnecessary. Indeed, on rereading Mankiw’s Macroeconomics Chapter 4 this 2022 Spring Semester, I realized I can cut it from the reading list entirely.

These two videos build on “Supply and Demand for the Monetary Base: How the Fed Currently Determines Interest Rates.” If you find that and these videos interesting, see also “Supply and Demand for the Monetary Base with a Cap on Reserves, a Zero Interest Rate on Reserves and a Negative Reverse Repo Rate.”

Sight: Enjoying Our 7-Dimensional Visual World

This post has many photos. But it is not about photography. It is about encouraging you to delight in all the sights we can see, even in a typical day.

One powerful Zen koan is the question “Who Am I?” In the Zen training I got from my Waking Up app, an answer I really like is “I am everything I see, hear and otherwise experience.” (See “Zen Koan Practice with Miles Kimball: 'I Don't Know What All This Is'.”) This is quite literally true in the sense that everything we experience directly has already been highly processed by the sensory parts of our brain (with inputs from other parts). It is also metaphorically true in the sense that evolution designed us to be connected to the world and to each other. Or as Max Ehrmann’s poem “Desiderata” has it, “You are a child of the universe no less than the trees and the stars.” Here is the full poem, which was extremely popular when I was young:

Go placidly amid the noise and the haste, and remember what peace there may be in silence. As far as possible, without surrender, be on good terms with all persons. Speak your truth quietly and clearly; and listen to others, even to the dull and the ignorant; they too have their story. Avoid loud and aggressive persons; they are vexatious to the spirit. If you compare yourself with others, you may become vain or bitter, for always there will be greater and lesser persons than yourself. Enjoy your achievements as well as your plans. Keep interested in your own career, however humble; it is a real possession in the changing fortunes of time. Exercise caution in your business affairs, for the world is full of trickery. But let this not blind you to what virtue there is; many persons strive for high ideals, and everywhere life is full of heroism. Be yourself. Especially do not feign affection. Neither be cynical about love; for in the face of all aridity and disenchantment, it is as perennial as the grass. Take kindly the counsel of the years, gracefully surrendering the things of youth. Nurture strength of spirit to shield you in sudden misfortune. But do not distress yourself with dark imaginings. Many fears are born of fatigue and loneliness. Beyond a wholesome discipline, be gentle with yourself. You are a child of the universe no less than the trees and the stars; you have a right to be here. And whether or not it is clear to you, no doubt the universe is unfolding as it should. Therefore be at peace with God, whatever you conceive Him to be. And whatever your labors and aspirations, in the noisy confusion of life, keep peace in your soul. With all its sham, drudgery and broken dreams, it is still a beautiful world. Be cheerful. Strive to be happy.

How do I get to 7 dimensions? The first is time, represented by the one photo at the top. This is a view out of my bedroom window in the “blue hour” between when it gets light and sunrise. Things look very different at that time of day than when the sun is up. And a whole new set of wonders becomes visible at night.

The next 3 dimensions, to give their local names, are north/south, east/west and high/low. That gives your position—your standpoint. Then there are two dimensions for the spherical angle in which you are looking. Finally narrow/wide focus gives a very different visual experience. That makes 7. And I am not even counting other dimensions such as color, which are less straight forward, but still possible to focus on or not.

The point is that there are riches of visual experience to be had—here the blessing of dimensionality rather than the curse of dimensionality.

In what follows, I’ll dump in the photos I took yesterday on a single walk. At 4 or 5 locations I looked in a set of 4 horizontal directions at 90-degree angles from each other and straight up and straight down at wide focus and at narrow focus. (Straight up was similar enough at the different locations I sometimes skipped that.) I think the high dimensionality of visual potential is clear from these photos. And even though I used an iphone to document these views, seeing them doesn’t require any technology at all.



(Note: This post is still under construction. More photos to come.)

Supply and Demand for the Monetary Base with a Cap on Reserves, a Zero Interest Rate on Reserves and a Negative Reverse Repo Rate

This post assumes you have read “Supply and Demand for the Monetary Base: How the Fed Currently Determines Interest Rates” and “How the Fed Could Use Capped Reserves and a Negative Reverse Repo Rate Instead of Negative Interest on Reserves.” This diagram combines the argument of those two posts. Note that in the situation diagrammed above the interest rate is negative (say an annual rate of -2%) even though the interest rate on reserves is zero.

In the graph above, the vertical portion of the demand for the monetary base is at the cap, which technically is on reserves, but is effectively on reserves plus currency because the cap on reserves declines 1 for 1 with any increase in currency and rises with any reduction in currency.

Two Terminological Issues

What is the Monetary Base in this Situation? In this system, it would make sense to measure the monetary base not as currency + reserves, but as currency + reserves + reverse repo-based loans to the Fed. If one insists on measuring the monetary base as currency + reserves, then the monetary base would be much larger in the daytime when reverse repo balances have turned back into reserves. (There is no cap on reserves in the daytime. Only at night.) So measuring the monetary base as currency + reserves + reverse repo-based loans to the Fed is equivalent to a daytime measure of currency + reserves.

By the way, I would like to get clear whether, currently, the monetary base is measured by its daytime value or its nighttime value. Reverse repo balances are already substantial.

What Should We Call Reserves Over the Cap? I have found myself tempted to call reserves over the cap “excess reserves,” which of course won’t do because “excess reserves” is already in use for reserves beyond required reserves. I propose “overcap reserves” for reserves beyond the cap that get routinely swept into the reverse-repo-based overnight facility every evening. “Overcap reserves” is short and pithy and gets the job done.

How People Differ from One Another Psychologically: IQ and the Big 5—Jordan Peterson

This particular class is a great introduction to IQ and to personality theory in psychology. Also, Jordan Peterson does a great job of skewering the twisting of psychology to tell people what they want to hear. In particular, (a) IQ is a very well-defined measure (with such strong correlations between different problem-solving skills that it looks to be dominated by one factor), (b) IQ does a great job of predicting important things and (c) very few psychological trait concepts add anything beyond IQ and the Big 5 personality traits or IQ and the Big 10 that come from splitting each of the Big 5 into 2 (although showing how things with other names relate to IQ and the Big 5 or Big 10 can be quite illuminating).

Highly recommended for economists who want to quickly learn key concepts from an area of psychology quite relevant to economics, but different from the social psychology that is most similar to experimental economics.

One conjecture: I suspect that measures of economic preference parameters do tend to be distinct from IQ and the Big 5. But if not, the way preference parameters could be predicted by IQ and the Big 5 would be quite interesting.

In Praise of Sildenafil

I’ll turn 62 in a few months. So I don’t feel too embarrassed about having mild erectile dysfunction. Fortunately, Sildenafil—better known under one of its marketing names, Viagra—works like a charm. Or more precisely, I should say it is like clockwork. (For me, Tadalafil—better known under its marketing name Cialis—does almost nothing. I’m sure it works great for many others.)

The reason I am saying this is that mentioning it out in the open might help you get over resistance to looking into some chemical help if you are beginning to need it. Everyone is different, but for many men, erectile dysfunction is a concomitant of aging, just like needing reading glasses. Others run into this relatively easily fixable trouble earlier.

When I teach financial theory, I compare diversifiable risk to a malady that can easily be cured. For many men, this is in that category. Don’t suffer needlessly. Try available potential remedies to see if they work for you.

One thing that led me to delay trying Sildenafil was the fear that it would interact badly with my low blood pressure. That turned out not to be a problem at all.

By the way, looking for an image to put at the top of this post revealed that a lot of research is being done to see if sildenafil can be useful in dealing with other maladies. Those research efforts make sense because it expands blood vessels, leading to more blood flow throughout the body, something that could be useful in many situation.

I’m glad for progress. Sildenafil was approved for treatment of erectile dysfunction only in 1998. So as an approved drug, it is less than a quarter century old. It’s good not to live in the bad old days.


For annotated links to other posts on diet and health, see:

The Federalist Papers #52: On the Franchise + Elections to the House of Representatives Every Two Years are Frequent Enough to Preserve Liberty

The Federalist Papers #52, written by either Alexander Hamilton or James Madison, only tries to accomplish two things. First, it argues it frames the constitutional requirement of having the same franchise in any state for the US House of Representatives as for the corresponding part of the state’s legislature as prevention against excessive strategic game-playing through manipulation of the franchise for the US House of Representatives by either the federal or state governments. There is a hint that reducing state power further than that by specifying the franchise did not seem feasible in 1787:

To have reduced the different qualifications in the different States to one uniform rule, would probably have been as dissatisfactory to some of the States as it would have been difficult to the convention.

Of course, later amendments to the US Constitution did specify the franchise more tightly (bullets added):

  • The right of citizens of the United States to vote shall not be denied or abridged by the United States or by any State on account of race, color, or previous condition of servitude— [from the 15th amendment]

  • The right of citizens of the United States to vote shall not be denied or abridged by the United States or by any State on account of sex. [from the 19th amendment]

  • The right of citizens of the United States to vote in any primary or other election for President or Vice President, for electors for President or Vice President, or for Senator or Representative in Congress, shall not be denied or abridged by the United States or any State by reason of failure to pay poll tax or other tax. [from the 24th amendment]

  • The right of citizens of the United States, who are eighteen years of age or older, to vote shall not be denied or abridged by the United States or by any State on account of age. [from the 26th amendment]

In addition, Section 2 of the 14th amendment imposes a penalty for limiting the franchise in other ways, such as by wealth:

… when the right to vote at any election for the choice of electors for President and Vice-President of the United States, Representatives in Congress, the Executive and Judicial officers of a State, or the members of the Legislature thereof, is denied to any of the male inhabitants of such State, being twenty-one years of age,* and citizens of the United States, or in any way abridged, except for participation in rebellion, or other crime, the basis of representation therein shall be reduced in the proportion which the number of such male citizens shall bear to the whole number of male citizens twenty-one years of age in such State. [from the 14th amendment]

I think a constitutional amendment modernizing this idea would be very interesting. Suppose that instead of the number of representatives a state gets being determined by a population count, it was determined by the number of people who voted in the last few federal elections. Then every state has an incentive to increase voter participation. As a good complementary idea that might make this idea more appealing to Republicans, this could be coupled with regular audits of the people who voted to make sure that ineligible voters were not counted. Even if such an amendment couldn’t pass, I think those opposing it would look bad.

The second thing the Federalist Papers #52 tries to accomplish is to argue that every 2 years is often enough for elections to the US House of Representatives. The argument boils down to citing examples of many other governments in which the corresponding legislative body is subject to elections less often or equally often, and claiming that, by and large, these showed real concern for the opinions of the people. That brief summary captures the essence of this part of the Federalist Papers #52. The full text is below.


FEDERALIST NO. 52

The House of Representatives

From the New York Packet
Friday, February 8, 1788.

Author: Alexander Hamilton or James Madison

To the People of the State of New York:

FROM the more general inquiries pursued in the four last papers, I pass on to a more particular examination of the several parts of the government. I shall begin with the House of Representatives. The first view to be taken of this part of the government relates to the qualifications of the electors and the elected. Those of the former are to be the same with those of the electors of the most numerous branch of the State legislatures.

The definition of the right of suffrage is very justly regarded as a fundamental article of republican government. It was incumbent on the convention, therefore, to define and establish this right in the Constitution. To have left it open for the occasional regulation of the Congress, would have been improper for the reason just mentioned. To have submitted it to the legislative discretion of the States, would have been improper for the same reason; and for the additional reason that it would have rendered too dependent on the State governments that branch of the federal government which ought to be dependent on the people alone. To have reduced the different qualifications in the different States to one uniform rule, would probably have been as dissatisfactory to some of the States as it would have been difficult to the convention. The provision made by the convention appears, therefore, to be the best that lay within their option.

It must be satisfactory to every State, because it is conformable to the standard already established, or which may be established, by the State itself. It will be safe to the United States, because, being fixed by the State constitutions, it is not alterable by the State governments, and it cannot be feared that the people of the States will alter this part of their constitutions in such a manner as to abridge the rights secured to them by the federal Constitution. The qualifications of the elected, being less carefully and properly defined by the State constitutions, and being at the same time more susceptible of uniformity, have been very properly considered and regulated by the convention. A representative of the United States must be of the age of twenty-five years; must have been seven years a citizen of the United States; must, at the time of his election, be an inhabitant of the State he is to represent; and, during the time of his service, must be in no office under the United States. Under these reasonable limitations, the door of this part of the federal government is open to merit of every description, whether native or adoptive, whether young or old, and without regard to poverty or wealth, or to any particular profession of religious faith. The term for which the representatives are to be elected falls under a second view which may be taken of this branch. In order to decide on the propriety of this article, two questions must be considered: first, whether biennial elections will, in this case, be safe; secondly, whether they be necessary or useful. First. As it is essential to liberty that the government in general should have a common interest with the people, so it is particularly essential that the branch of it under consideration should have an immediate dependence on, and an intimate sympathy with, the people. Frequent elections are unquestionably the only policy by which this dependence and sympathy can be effectually secured. But what particular degree of frequency may be absolutely necessary for the purpose, does not appear to be susceptible of any precise calculation, and must depend on a variety of circumstances with which it may be connected. Let us consult experience, the guide that ought always to be followed whenever it can be found. The scheme of representation, as a substitute for a meeting of the citizens in person, being at most but very imperfectly known to ancient polity, it is in more modern times only that we are to expect instructive examples. And even here, in order to avoid a research too vague and diffusive, it will be proper to confine ourselves to the few examples which are best known, and which bear the greatest analogy to our particular case. The first to which this character ought to be applied, is the House of Commons in Great Britain. The history of this branch of the English Constitution, anterior to the date of Magna Charta, is too obscure to yield instruction. The very existence of it has been made a question among political antiquaries. The earliest records of subsequent date prove that parliaments were to SIT only every year; not that they were to be ELECTED every year. And even these annual sessions were left so much at the discretion of the monarch, that, under various pretexts, very long and dangerous intermissions were often contrived by royal ambition. To remedy this grievance, it was provided by a statute in the reign of Charles II. , that the intermissions should not be protracted beyond a period of three years. On the accession of William III. , when a revolution took place in the government, the subject was still more seriously resumed, and it was declared to be among the fundamental rights of the people that parliaments ought to be held FREQUENTLY. By another statute, which passed a few years later in the same reign, the term "frequently," which had alluded to the triennial period settled in the time of Charles II. , is reduced to a precise meaning, it being expressly enacted that a new parliament shall be called within three years after the termination of the former. The last change, from three to seven years, is well known to have been introduced pretty early in the present century, under on alarm for the Hanoverian succession. From these facts it appears that the greatest frequency of elections which has been deemed necessary in that kingdom, for binding the representatives to their constituents, does not exceed a triennial return of them. And if we may argue from the degree of liberty retained even under septennial elections, and all the other vicious ingredients in the parliamentary constitution, we cannot doubt that a reduction of the period from seven to three years, with the other necessary reforms, would so far extend the influence of the people over their representatives as to satisfy us that biennial elections, under the federal system, cannot possibly be dangerous to the requisite dependence of the House of Representatives on their constituents. Elections in Ireland, till of late, were regulated entirely by the discretion of the crown, and were seldom repeated, except on the accession of a new prince, or some other contingent event. The parliament which commenced with George II. was continued throughout his whole reign, a period of about thirty-five years. The only dependence of the representatives on the people consisted in the right of the latter to supply occasional vacancies by the election of new members, and in the chance of some event which might produce a general new election.

The ability also of the Irish parliament to maintain the rights of their constituents, so far as the disposition might exist, was extremely shackled by the control of the crown over the subjects of their deliberation. Of late these shackles, if I mistake not, have been broken; and octennial parliaments have besides been established. What effect may be produced by this partial reform, must be left to further experience. The example of Ireland, from this view of it, can throw but little light on the subject. As far as we can draw any conclusion from it, it must be that if the people of that country have been able under all these disadvantages to retain any liberty whatever, the advantage of biennial elections would secure to them every degree of liberty, which might depend on a due connection between their representatives and themselves. Let us bring our inquiries nearer home. The example of these States, when British colonies, claims particular attention, at the same time that it is so well known as to require little to be said on it. The principle of representation, in one branch of the legislature at least, was established in all of them. But the periods of election were different. They varied from one to seven years. Have we any reason to infer, from the spirit and conduct of the representatives of the people, prior to the Revolution, that biennial elections would have been dangerous to the public liberties? The spirit which everywhere displayed itself at the commencement of the struggle, and which vanquished the obstacles to independence, is the best of proofs that a sufficient portion of liberty had been everywhere enjoyed to inspire both a sense of its worth and a zeal for its proper enlargement This remark holds good, as well with regard to the then colonies whose elections were least frequent, as to those whose elections were most frequent Virginia was the colony which stood first in resisting the parliamentary usurpations of Great Britain; it was the first also in espousing, by public act, the resolution of independence.

In Virginia, nevertheless, if I have not been misinformed, elections under the former government were septennial. This particular example is brought into view, not as a proof of any peculiar merit, for the priority in those instances was probably accidental; and still less of any advantage in SEPTENNIAL elections, for when compared with a greater frequency they are inadmissible; but merely as a proof, and I conceive it to be a very substantial proof, that the liberties of the people can be in no danger from BIENNIAL elections. The conclusion resulting from these examples will be not a little strengthened by recollecting three circumstances. The first is, that the federal legislature will possess a part only of that supreme legislative authority which is vested completely in the British Parliament; and which, with a few exceptions, was exercised by the colonial assemblies and the Irish legislature. It is a received and well-founded maxim, that where no other circumstances affect the case, the greater the power is, the shorter ought to be its duration; and, conversely, the smaller the power, the more safely may its duration be protracted. In the second place, it has, on another occasion, been shown that the federal legislature will not only be restrained by its dependence on its people, as other legislative bodies are, but that it will be, moreover, watched and controlled by the several collateral legislatures, which other legislative bodies are not. And in the third place, no comparison can be made between the means that will be possessed by the more permanent branches of the federal government for seducing, if they should be disposed to seduce, the House of Representatives from their duty to the people, and the means of influence over the popular branch possessed by the other branches of the government above cited. With less power, therefore, to abuse, the federal representatives can be less tempted on one side, and will be doubly watched on the other.

PUBLIUS.


Links to my other posts on The Federalist Papers so far:

Ruchir Agarwal and Miles Kimball on Negative Interest Rates and Inflation—IMF Podcasts

Here is the summary for the podcast shown above:

Everyone feels the pinch when inflation is on the rise and so the pressure on central banks to manage inflation rates has grown exponentially in recent weeks. In this first podcast of a two-part series on inflation, distinguished economists Miles Kimball and Ruchir Agarwal discuss how a robust negative interest rate policy can help central banks better control inflation and stabilize the economy.

Here are other ways you can listen to this podcast:

Apple Podcasts: https://podcasts.apple.com/us/podcast/miles-kimball-ruchir-agarwal-on-inflation-part-1-negative/id1029134681?i=1000556697465Libsynhttps://imfpodcast.libsyn.com/miles-kimball-ruchir-agarwal-on-inflation-part-1-negative-interest-rates

Spotify: https://open.spotify.com/episode/5JPi2ZPcp8lJAdTWiguaol?si=be381b1b43bd419d

Amazon Music: https://music.amazon.com/podcasts/36c8cd65-f126-407c-be90-2cbf7d89c334/episodes/c0de9ddc-c79b-4d86-b209-791e40a5404b/imf-podcasts-miles-kimball-ruchir-agarwal-on-inflation-part-1-negative-interest-rates

SoundCloud: https://soundcloud.com/imf-podcasts/miles-kimball-ruchir-agarwal

Google Podcasts: https://podcasts.google.com/feed/aHR0cDovL2ltZnBvZGNhc3QuaW1mcG9kY2FzdHMubGlic3lucHJvLmNvbS9yc3M

IMF.org (the link on the image above): https://www.imf.org/en/News/Podcasts/All-Podcasts/2022/04/08/kimball-agarwal-inflation-part-1


The summary for Part 2 is:

Most people and virtually all businesses now use electronic money for their transactions, yet central banks are still dealing with what's known among economists as the paper currency problem, which limits central banks' ability to use deep negative rates to fight recessions. In this second episode of a two-part series on inflation, economists Miles Kimball and Ruchir Agarwal discuss how fully committing to an electronic money standard would allow central banks to break the zero lower bound associated with paper currency and help them to fight both inflation and recessions more effectively, including by lowering the inflation target.

Here are the links for Part 2:

Apple Podcasts: https://podcasts.apple.com/us/podcast/ruchir-agarwal-and-miles-kimball-on-electronic-money/id1029134681?i=1000557514550

Spotify: https://open.spotify.com/episode/2MlYrqXAsJK9aiJj2gENoS?si=03b118c8d3ba4c10

Libsyn: https://imfpodcast.libsyn.com/ruchir-agarwal-and-miles-kimball-on-electronic-money-and-inflation

SoundCloud: https://soundcloud.com/imf-podcasts/ruchir-agarwal-and-miles

Google Podcasts: https://bit.ly/3uEJACU

IMF.org: https://www.imf.org/en/News/Podcasts/All-Podcasts/2022/04/13/inflation-part-2

The Future Promise of Heirloom Fruit

Link to the “Peach Varieties Guide” shown above. There are a large number of known varieties of peaches.

One of my students asked me, partly in jest, if I had any entrepreneurial ideas for getting rich. I said I thought I had one. Our culture is gradually getting clear that sugar is very, very bad for you. And at some point people will realize that the sugar in fruit is a problem, too. My prediction is that, 20 years from now, low-sugar varieties of fruit will be a thing, and that getting in early in growing and distributing low-sugar varieties of fruit could be a good business move.

My quick summary about fruit is that the sugar in it is quite bad, and the other stuff in fruit is really good for you. So for health, what we need is low-sugar fruit. And it is easy for a grower to both select low-sugar varieties and to breed fruit to have even lower levels of sugar.

Because, commercially, only a few varieties of fruit dominate the market, everything else, by count almost all varieties of edible fruit, count as “heirloom fruit.” Because the market so far has selected for and bred varieties of fruit with high levels of sugar, and made those varieties especially common in stores, many heirloom varieties have lower levels of sugar than the varieties in the store. (Of course, the most popular heirloom varieties could be exactly those that have even higher levels of sugar than those in the store, but say are harder to grow.)

Even among varieties that are easily available commercially, there can be big differences in sugar content. For an example, see “Nutritionally, Not All Apple Varieties Are Alike.”

People not only should start caring about the sugar in fruit, I think that they will. Right now, the myth is that sugar in fruit is innocent. That is a pleasant illusion that will persist for a while, but is bound to crumple under the weight of its implausibility within a few years. Then interest in low-sugar fruit will pick up.


For annotated links to other posts on diet and health, see: