Confession: I haven't the slightest interest in my genetic ancestry or where my ancestors came from or what they did.

I mean, my dad's family came from Lithuania. They changed their name from Kuznets in 1905. At some point they were blacksmiths. My mom's family came from Halychyna in Ukraine. I have no idea what they did. That's about all I know.

Oh, I do know that pretty much all of my extended family who stayed in Europe got wiped out by the Nazis.

I like to think that my ancestors were nothing and nobody. Random boring peasants with no special talents or wealth.

Except for Genghis Khan, of course. But he's everyone's ancestor.

The best thing about this approach is that I don't have anything to live up to. ;-)

(end)

Today's @bopinion post is a review of the excellent new book "The Gift of Global Talent: How Migration Shapes Business, Economy & Society", by

This is an excellent, short, highly readable, very important book. Every business executive and politician should have a copy.

Why are skilled immigrants so good, and so important?

Because they're the backbone of high-value industries where the U.S. has a dominant position.

If we don't bring skilled immigrants to the United States, high-value industries will migrate to other countries, and America will lose industrial dominance and be a poorer country.

Contrary to popular belief, skilled immigrants - including H-1b workers - RAISE wages for native-born skilled workers.

Why?

Because downward wage pressure from competition is more than canceled out by the upward wage pressure from CLUSTERING.

1/Lately I've been reading a ton of books about immigration and diversity. The most recent one is "Americanism in the Twenty-First Century", by @debbiejsr.

https://t.co/neqzyYVaYS

What did I learn?

2/This book is not very "pop". It's a dry political science book that's basically a concatenation of several research papers, all based on one big survey that was done in 2004.

3/The survey, the 21-CAS, asks people about how they define their own identity - race, national origin, and/or "American".

It also asks them about what they think being an "American" entails.

4/Basically, the survey asks people about 5 types of "Americanism":
1. Feeling like an American
2. Believing traditional American values like freedom
3. Civic participation (voting, etc.)
4. Multiculturalism vs. blending in
5. Being white and/or Christian

5/I edited out a few others (e.g. being born in America, being a citizen, speaking English). Anyway.

The upshot is that except for being white/Christian, most of these definitions of "American" get broad endorsement from all groups of people surveyed.

1/Here is a thread about climate change that's going to make a lot of people mad.

Basically, America, on its own, has a LOT power to stop climate change than almost anyone admits.

2/China now emits far more CO2 than the U.S. It emits almost as much as Europe and the U.S. combined.

3/In fact, even this huge disparity dramatically understates the degree to which China is in the driver's seat of climate change.

China, being still much poorer than us, has much more room to grow its economy. Hence, the emissions gap will only grow larger.

4/This leads to an uncomfortable but unavoidable fact: The battle to halt climate change will be won or lost in China.

America's power - and thus, the power of American politicians, activists, businesses, etc. - to save the planet from climate catastrophe is very marginal.

5/This is just a fact. But it's an uncomfortable one for a people like Americans who are used to thinking that the world lives or dies at their command.

Thus, I see many Americans desperately trying to preserve the illusion of control with respect to climate change.

Very interesting new report about how America's economic geography has changed since the great recession: https://t.co/l3YE4WzgKx

Short version: Places with lots of skilled workers are doing great, other places aren't. But more people are moving to the former, which is good.

And here are cool interactive maps to go along with the

Report is via @LettieriDC, who is doing great work on struggling places.

A bit of good news: People are moving from economically bad places to economically good places, though probably too slowly.

Rural America continues to languish.

"Noah" is at the point where it's a common enough name where there are lots of Noahs around, but still uncommon enough that people get us confused a lot.

I keep feeling guilty about being mistaken for Noah Feldman and angry about being mistaken for Noah Berlatsky...

Then there's that guy Noah Smith who does computer science at the University of Washington, who is way handsomer and more successful than I am...but nobody mistakes me for him because I'm much louder and more online... :D

"I want a guy named Noah to slice my mango. I want that Noah mango. That’s the income bracket I want to be in."
- Ali Wong

Today's @bopinion post is about Nigeria. I expect its conclusions will not come as a surprise to most Nigerians, but it's good for Americans to be thinking about Nigeria and its problems.

Nigeria is very dependent on oil, for its government revenues and for its foreign exchange earnings.

When oil prices fall, Nigeria's people suffer.

And like many oil-rich countries, the government tries to cushion the blow by subsidizing fuel (this is more expensive than you might think, since Nigeria can't refine all of its own oil).

When oil prices rise again, this puts a strain on govt. budgets.

Meanwhile, fewer and fewer Nigerians have jobs, which could portend a rise in social instability.

To escape the doom spiral of the Resource Curse, Nigeria should look to a country that seems to have beaten the curse:

1/Today's @bopinion post is about Trump's taxes, and what they show about how America allocates capital.

We appear to have some big problems.

2/Trump has a bunch of businesses that lose money. Our financial system has lent him money to throw into unsuccessful golf courses, hotels, and so

3/A lot of these loans are loans that Trump hasn't even paid back yet, using loopholes in the tax system to avoid paying taxes on those unpaid debts.

Why would creditors give money to a guy who wastes the money on bad businesses and doesn't even pay them back?

4/One seemingly obvious answer is that capital is just really cheap these days. Companies are able to borrow more easily than at any time in the last few decades.

5/But this presents us with a mystery.

Why hasn't an abundance of cheap capital caused the return on financial capital to fall? Interest rates are low, but stock returns have held up strongly.