This is probably one of the top 5 posts I’ve read about the Philippines this year.
Marketman’s Running Survey
In the survey I am running (or if you read this later, survey that I ran), it seems some 40% of readers actually think the Philippines is POORER than it is, in other words, a fairly negative sentiment. Some 24% of you got it right, with roughly 86-88% of the families earning less than PHP25,000 per month for a family of 5. But approximately 36% of you were varying degrees of being overly optimistic, and believed that many more families earned more than they actually do. Okay, so hold this thought for a moment. Roughly 87% of all families in the Philippines, representing 75.7 million people, are living on less than PHP5,000 (USD110) per month per person on average in income.
via Market Manila – Income Levels / Poverty in the Philippines – General.
Okay a little too over the top. but I really wanted you to read this!!!
When you are cute your questions tend to get answered. Read the whole thing!
While unsure if we can stomach yet another book on the crisis, a killer thesis on the topic? Now that piqued our curiosity. We tracked down Barnett-Hart, a 24-year-old financial analyst at a large New York investment bank. She met us for coffee last week to discuss her thesis, “The Story of the CDO Market Meltdown: An Empirical Analysis.” Handed in a year ago this week at the depths of the market collapse, the paper was awarded summa cum laude and won virtually every thesis honor, including the Harvard Hoopes Prize for outstanding scholarly work.
Last October, Barnett-Hart, already pulling all-nighters at the bank (we agreed to not name her employer), received a call from Lewis, who had heard about her thesis from a Harvard doctoral student. Lewis was blown away.
“It was a classic example of the innocent going to Wall Street and asking the right questions,” said Mr. Lewis, who in his 20s wrote “Liar’s Poker,” considered a defining book on Wall Street culture. “Her thesis shows there were ways to discover things that everyone should have wanted to know. That it took a 22-year-old Harvard student to find them out is just outrageous.”
via Michael Lewis’s ‘The Big Short’? Read the Harvard Thesis Instead! – Deal Journal – WSJ.
Read the whole thing by clicking through the overcoming bias blog!!!
Would something like this work for the Philippines? No as long as the Education System is in shambles we cannot do anything as radical as this.
The reason so many bad policies are good politics is that so many people vote. … Ignorant voters … are biased towards particular errors. …
The best way to improve modern politics? … The number of voters should be drastically reduced so that each voter realizes that his vote will matter. Something like 12 voters per district … selected at random from the electorate. With 535 districts in Congress … there would be 6,420 voters nationally. A random selection would deliver a proportional representation of sexes, ages, races and income groups. This would improve on the current system, in which the voting population is skewed … the old vote more than the young, the rich vote more than the poor, and so on.
To safeguard against the possibility of abuse, these 6,420 voters would not know that they had been selected at random until the moment when the polling officers arrived at their house. They would then be spirited away to a place where they will spend a week locked away with the candidates, attending a series of speeches, debates and question-and-answer sessions before voting on the final day. All of these events should be filmed and broadcast, so that everyone could make sure that nothing dodgy was going on.
More here. This logic is simple and strong enough for most folks to both understand and accept. Yet most would still prefer our current system – why?
via Overcoming Bias : National Juries.
People who follow the politics in the USA knows host stupid the people in the system can be.
I’m watching Citizen Tube here http://www.youtube.com/citizentube?feature=ticker on the Healthcare summit. I’m seriously envious of them right now. When we have senators who are hitting each other with personal snide remarks. When most of the questions that are being asked in Presidential forums are not up to snuff, Simply put I have no Idea who has the policy-fu down pat. Who knows basic economics, basic public policy etc. Damn. and you have self styled pundit who really know nothing.
I think I was born in the wrong decade.
The sex ratio on many U.S. campuses is around 60/40 and rising. The NYTimes has an excellent piece on the predictable consequences for dating.
North Carolina, with a student body that is nearly 60 percent female, is just one of many large universities that at times feel eerily like women’s colleges…Needless to say, this puts guys in a position to play the field, and tends to mean that even the ones willing to make a commitment come with storied romantic histories. Rachel Sasser, a senior history major at the table, said that before she and her boyfriend started dating, he had “hooked up with a least five of my friends in my sorority — that I know of.”
via Marginal Revolution: Supply and Demand.