A detailed insider look at Phase I clinical drug trials, revealing how the system's structure encourages participants to routinely lie about their medical history and symptoms to continue participating. Longer summary

This review explores Phase I clinical pharmaceutical trials from a participant's perspective, detailing the process, the people involved, and systemic issues. The author explains how participants are recruited, screened, and monitored during trials, then describes the peculiar demographics of regular trial participants. A key focus is how the system's incentives encourage dishonesty: participants routinely lie about medical history and symptoms because being truthful often leads to disqualification from future trials. The author concludes that while this systemic dishonesty probably doesn't catastrophically compromise drug safety, it does make the research pipeline less effective than it could be. Shorter summary

Scott Alexander announces the 2025 ACX Grants program offering $1M in microgrants for charitable and scientific projects, with a new equity-sharing component for projects that become startups. Longer summary

Scott Alexander announces the 2025 ACX Grants program, a microgrants initiative funding charitable and scientific projects from ACX readers. He plans to contribute $200K with an expected additional $800K from other donors, for grants ranging from $5K to $50K. This year introduces a new feature where some grants will be replaced with SAFEs or convertible grants, giving ACX Grants equity claims if projects become successful startups. The post details application processes, timelines, types of projects they're interested in, and various ways others can help as funders, VCs, evaluators, or friendly professionals. Shorter summary

A review of 'The Laws of Trading' by Agustin Lebron, examining trading principles and their broader applications to decision-making and life. Longer summary

This book review analyzes 'The Laws of Trading' by Agustin Lebron, which explores trading principles and their applications to decision-making in various aspects of life. The reviewer discusses Lebron's insights on motivation, adverse selection, risk management, liquidity, edge, models, costs and capacity, possibility, alignment, technology, and adaptation, while drawing parallels to other fields and offering personal reflections. Shorter summary

Lars Doucet presents evidence that land is still a major economic factor in modern times, contrary to some economists' claims. Longer summary

This post, written by Lars Doucet, is the first in a series examining the empirical basis for Georgism. It focuses on whether land is still a significant economic factor in modern times, as some economists argue it isn't. Doucet presents evidence that land is indeed a major economic factor, showing that it represents a large portion of urban real estate value, bank loans, personal assets, and government revenue potential. He also demonstrates that land ownership is highly concentrated among the wealthy, contributing to economic inequality. The post concludes that land is a 'really big deal' in modern economies, contrary to some economists' claims. Shorter summary

Henry George's 'Progress and Poverty' argues that private land ownership and rent cause persistent poverty, and proposes a land value tax as a solution. Longer summary

This review examines Henry George's book 'Progress and Poverty', which argues that poverty persists alongside economic progress due to private land ownership and rent-seeking. George proposes a land value tax as a solution to eliminate speculation, encourage efficient land use, and fund public goods. The review covers George's theories on wages, capital, rent, and criticisms of prevailing economic ideas like Malthusianism. Shorter summary