Writing in The Journal of Health Economics, three economists claim (Sci Hub mirror) that "a one standard deviation reduction in daily stock market returns is associated with a 0.6% increase in fatal car accidents that happen after the stock market opening" and that this is robust across "a battery of falsification tests."
They examined data from the Fatality Analysis Reporting System from 1990-2015, and conclude that this "might just be the tip of the iceberg" because most car accidents are not fatal and thus not reflected in their data-set. Moreover, the correlation between fatal wrecks and stock fluctuations underwent a sudden, persistent increase in the mid-nineties, when 401(k)s exposed millions of households' finances to the stock market for the first time.
They recommend public information campaigns to warn people that they might drive worse after their pensions are wiped out. Though, of course, from a neoliberal perspective, this could just be the incredible serendipity of self-correcting markets: when pensions are wiped out by financial engineering, people fatally wreck their cars, circumventing the future pain of not having any pension savings. Capitalism works!
When the market drives you crazy: Stock market returns and fatal car accidents [Corrado Giulietti, Mirco Tonin and Michael Vlassopoulos/The Journal of Health Economics] (Sci-Hub Mirror)
(via Marginal Revolution)
A trio of lawsuits filed Tuesday against Microsoft, Google owner Alphabet, and Amazon accuses the tech companies of training their facial recognition tools on photos of people that have not given their consent, which is a violation of Illinois law.
This is quite a major hack. Now is a good time to change your Twitter password, if you are a user. Hackers pumping a cryptocurrency giveaway scam appear to have compromised the Twitter accounts of leading exchanges, prominent individuals, major corporations, and at least one news organization.
Unhinged Trump tweets in three, two, one… A judge on Monday released Mary L. Trump, PhD from a gag order.
Maybe after four months, you’re finally getting tired of staring at that less-than-brilliant home computer monitor. Or maybe you really need to create your own dual-monitor configuration in your home office like the one back on your desk at work. Or maybe that 15-inch screen just isn’t doing it for you anymore and you need […]
Unlike the unquestioned effectiveness of a solid strip of duct tape, you never quite know what you’re going to get when you try to repair something with glue, do you? Whether it’s the material itself that you’re gluing or how much glue you apply or how long you let it sit before testing, there’s always […]
Now that we’re past July 4th, we’re truly turning smack into the sharpened teeth of the summer heatwave season. As temperatures and humidity spike, it just makes all the rest of the nation’s current problems that just tiniest bit more irritating, doesn’t it? Hey, we’re all in this together. So if we can help chill […]