John Taylor writes that “New Research Bolsters Policy Link from Uncertainty to Economy“:
Last week a joint Princeton-Stanford conference held in Princeton focused on policy uncertainty and showcased new findings on connections between policy uncertainty and political polarization and on patterns in different states, countries and time periods.
Danny Shoag, for example, presented new work “Uncertainty and the Geography of the Great Recession,” co-authored with Stan Veuger, showing that policy uncertainty across the United States has been highly and robustly correlated with state unemployment rates. As the authors explain, their “paper serves to counter such claims” as those made by Atif Mian and Amir Sufi that “an increase in business uncertainty at the aggregate level does not explain the stark cross-sectional patterns in employment losses” which had cast doubt on the role of policy uncertainty. Scott Baker, Nick Bloom and Steve Davis had written extensively on this at the national level and also presented new work at the conference.
I’ve written about Baker, Bloom, and Davis’s work here.
Ross Douthat comments about “Diversity and Dishonesty“:
Earlier this year, a column by a Harvard undergraduate named Sandra Y. L. Korn briefly achieved escape velocity from the Ivy League bubble, thanks to its daring view of how universities should approach academic freedom.
Korn proposed that such freedom was dated and destructive, and that a doctrine of “academic justice” should prevail instead. No more, she wrote, should Harvard permit its faculty to engage in “research promoting or justifying oppression” or produce work tainted by “racism, sexism, and heterosexism.” Instead, academic culture should conform to left-wing ideas of the good, beautiful and true, and decline as a matter of principle “to put up with research that counters our goals.”
Which reminds me of the story behind Robert Putnam’s “E Pluribus Unum: Diversity and Community in the Twenty-first Century,” which I recount here. In short, Putnam withheld publication of his paper because it refutes the leftist mantra “diversity is good.”
Finally, we are told by David Z. Hambrick and Christopher Chabris that “Yes, IQ Really Matters“:
The SAT does predict success in college—not perfectly, but relatively well, especially given that it takes just a few hours to administer. And, unlike a “complex portrait” of a student’s life, it can be scored in an objective way…. In a study published in Psychological Science, University of Minnesota researchers Paul Sackett, Nathan Kuncel, and their colleagues investigated the relationship between SAT scores and college grades in a very large sample: nearly 150,000 students from 110 colleges and universities. SAT scores predicted first-year college GPA about as well as high school grades did, and the best prediction was achieved by considering both factors. Botstein, Boylan, and Kolbert are either unaware of this directly relevant, easily accessible, and widely disseminated empirical evidence, or they have decided to ignore it and base their claims on intuition and anecdote—or perhaps on their beliefs about the way the world should be rather than the way it is.
Furthermore, contrary to popular belief, it’s not just first-year college GPA that SAT scores predict. In a four-year study that started with nearly 3,000 college students, a team of Michigan State University researchers led by Neal Schmitt found that test score (SAT or ACT—whichever the student took) correlated strongly with cumulative GPA at the end of the fourth year. If the students were ranked on both their test scores and cumulative GPAs, those who had test scores in the top half (above the 50th percentile, or median) would have had a roughly two-thirds chance of having a cumulative GPA in the top half. By contrast, students with bottom-half SAT scores would be only one-third likely to make it to the top half in GPA….
[I]t is clear that [socioeconomic status] is not what accounts for the fact that SAT scores predict success in college. In the University of Minnesota study, the correlation between high school SAT and college GPA was virtually unchanged after the researchers statistically controlled for the influence of SES. If SAT scores were just a proxy for privilege, then putting SES into the mix should have removed, or at least dramatically decreased, the association between the SAT and college performance….
What this all means is that the SAT measures something—some stable characteristic of high school students other than their parents’ income—that translates into success in college. And what could that characteristic be? General intelligence….
IQ predicts many different measures of success. Exhibit A is evidence from research on job performance by the University of Iowa industrial psychologist Frank Schmidt and his late colleague John Hunter. Synthesizing evidence from nearly a century of empirical studies, Schmidt and Hunter established that general mental ability—the psychological trait that IQ scores reflect—is the single best predictor of job training success, and that it accounts for differences in job performance even in workers with more than a decade of experience. It’s more predictive than interests, personality, reference checks, and interview performance. Smart people don’t just make better mathematicians, as Brooks observed—they make better managers, clerks, salespeople, service workers, vehicle operators, and soldiers.
IQ predicts other things that matter, too, like income, employment, health, and even longevity. In a 2001 study published in the British Medical Journal, Scottish researchers Lawrence Whalley and Ian Deary identified more than 2,000 people who had taken part in the Scottish Mental Survey of 1932, a nationwide assessment of IQ. Remarkably, people with high IQs at age 11 were more considerably more likely to survive to old age than were people with lower IQs. For example, a person with an IQ of 100 (the average for the general population) was 21 percent more likely to live to age 76 than a person with an IQ of 85. And the relationship between IQ and longevity remains statistically significant even after taking SES into account. Perhaps IQ reflects the mental resources—the reasoning and problem-solving skills—that people can bring to bear on maintaining their health and making wise decisions throughout life. This explanation is supported by evidence that higher-IQ individuals engage in more positive health behaviors, such as deciding to quit smoking….
[T]he bottom line is that there are large, measurable differences among people in intellectual ability, and these differences have consequences for people’s lives. Ignoring these facts will only distract us from discovering and implementing wise policies.
Given everything that social scientists have learned about IQ and its broad predictive validity, it is reasonable to make it a factor in decisions such as whom to hire for a particular job or admit to a particular college or university. In fact, disregarding IQ—by admitting students to colleges or hiring people for jobs in which they are very likely to fail—is harmful both to individuals and to society. For example, in occupations where safety is paramount, employers could be incentivized to incorporate measures of cognitive ability into the recruitment process. Above all, the policies of public and private organizations should be based on evidence rather than ideology or wishful thinking.
As I say at the end of this post, “life just isn’t fair, so get over it.”