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The Man Who'll Perform Triage on Europe's Banks - NYTimes.com - 0 views

www.nytimes.com/...m-triage-on-europes-banks.html
shared by Gene Ellis on 29 Oct 13 - No Cached
  • “What makes it difficult is that it is very fragmented,” he continued. “It is diversified in different countries and they are not used to working together, so it’s a huge organizational effort, and it’s also a huge political effort in the sense of convincing everybody to converge to common styles of supervision.”
  • three parts.
  • a broad assessment of a bank’s risk profile
  • ...3 more annotations...
  • The second is the so-called “asset quality review,”
  • The third is what is known as a “stress test,”
  • For the supervisory process to be truly useful, experts say it must also be accompanied by a so-called single resolution mechanism — a system for winding down failing banks in an orderly way, to avoid market upheavals.
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Ghana Flunks at Math and Science: Analysis (1) - 0 views

mobile.ghanaweb.com/...article.php
shared by Gene Ellis on 29 Oct 13 - No Cached
  • Since Ghanaian students took the test in English (the so-called official language of Ghana), those whose first language is non-English are at great disadvantage.
  • In some of the participating countries grade eight teachers have university education in mathematics, even some at the post- graduate level; while in others the teachers have an equivalent of two years university education in mathematics. In Ghana, a grade eight mathematics teachers may not have such a background in mathematics.
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How to Get a Job at Google - NYTimes.com - 0 views

www.nytimes.com/...ow-to-get-a-job-at-google.html
shared by Gene Ellis on 25 Apr 14 - No Cached
  • How to Get a Job at Google
  • noted that Google had determined that “G.P.A.’s are worthless as a criteria for hiring, and test scores are worthless. ... We found that they don’t predict anything.”
  • “Good grades certainly don’t hurt.” Many jobs at Google require math, computing and coding skills, so if your good grades truly reflect skills in those areas that you can apply, it would be an advantage.
  • ...10 more annotations...
  • your coding ability
  • the No. 1 thing we look for is general cognitive ability, and it’s not I.Q. It’s learning ability. It’s the ability to process on the fly. It’s the ability to pull together disparate bits of information.
  • The second, he added, “is leadership — in particular emergent leadership as opposed to traditional leadership.
  • What we care about is, when faced with a problem and you’re a member of a team, do you, at the appropriate time, step in and lead.
  • What else? Humility and ownership. “It’s feeling the sense of responsibility, the sense of ownership, to step in,” he said, to try to solve any problem — and the humility to step back and embrace the better ideas of others.
  • “Successful bright people rarely experience failure, and so they don’t learn how to learn from that failure,” said Bock.
  • You need a big ego and small ego in the same person at the same time.
  • The least important attribute they look for is “expertise.”
  • Too many colleges, he added, “don’t deliver on what they promise. You generate a ton of debt, you don’t learn the most useful things for your life. It’s [just] an extended adolescence.”
  • For most young people, though, going to college and doing well is still the best way to master the tools needed for many careers. But Bock is saying something important to them, too: Beware. Your degree is not a proxy for your ability to do any job. The world only cares about — and pays off on — what you can do with what you know (and it doesn’t care how you learned it)
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Europe's banks are too feeble to spur growth - FT.com - 0 views

www.ft.com/...c7-11e4-897f-00144feabdc0.html
shared by Gene Ellis on 18 Feb 15 - No Cached
  • Europe’s banks are too feeble to spur growth
  • It is essential not to make too much of these stress tests and asset quality review. Yes, they are real improvements. But they do not mean that eurozone banks will now drive growth. They still have too little capital for that. More important, the eurozone lacks a credible strategy for reigniting demand. If much of the German policy elite continues to deny this is even a problem, the crisis of the eurozone must remain unresolved. That is a disaster.
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Dani Rodrik on the promise and peril of social-science models. - Project Syndicate - 0 views

www.project-syndicate.org/...peril-of-social-science-models
shared by Gene Ellis on 25 Apr 14 - No Cached
  • We have neither the mental capacity nor the understanding to decipher the full web of cause-and-effect relations in our social existence. So our daily behavior and reactions must be based on incomplete, and occasionally misleading, mental models.
  • Social scientists – and economists in particular – analyze the world using simple conceptual frameworks that they call “models.”
  • Useful social-science models are invariably simplifications. They leave out many details to focus on the most relevant aspect of a specific context.
  • ...3 more annotations...
  • But, as inevitable as simplification is for explanation, it is also a trap
  • Unfortunately, economists and other social scientists get virtually no training in how to choose among alternative models. Neither is such an aptitude professionally rewarded. Developing new theories and empirical tests is regarded as science, while the exercise of good judgment is clearly a craft.
  • The philosopher Isaiah Berlin famously distinguished between two styles of thinking, which he identified with the hedgehog and the fox. The hedgehog is captivated by a single big idea, which he applies unremittingly. The fox, by contrast, lacks a grand vision and holds many different views about the world – some of them even contradictory.
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