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Innovation Blues

Not-Just-For-Profit - 0 views

  • Greed has hijacked profit-making. Greed is so prevalent that most people never consider that they may get more by taking less. In your personal life, eating pie is a good thing. Eat too much pie for too long, however, and serious problems will occur.
  • Many now work at a diminished capacity due to their previous business practices. Decisions made 30 years ago are hurting their companies, their communities, and their workers.
  • On the other side of greed is the fear of money. Too many non-profits shun all profit making in lieu of their ethics or their cause. These groups are then forced to spend their precious time begging for money in lieu of working on the mission at hand. Like the instructions given to parents traveling with their infants, "place the oxygen mask on yourself before your child," so too must the cause-driven venture strive to be as healthy as possible if it is to defend or nurture its benefactor.
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  • Money is like fire - it can warm you and keep you safe, or it can burn you.
  • Remember, it's possible to work toward your mission and make a fair profit, no matter if you are a non-profit or for-profit.
Innovation Blues

Joseph Stiglitz - Wikipedia, the free encyclopedia - 0 views

  • "They’ll say the IMF is arrogant. They’ll say the IMF doesn’t really listen to the developing countries it is supposed to help. They’ll say the IMF is secretive and insulated from democratic accountability. They’ll say the IMF's economic ‘remedies’ often make things worse – turning slowdowns into recessions and recessions into depressions. And they’ll have a point. I was chief economist at the World Bank from 1996 until last November, during the gravest global economic crisis in a half-century. I saw how the IMF, in tandem with the U.S. Treasury Department, responded. And I was appalled."
  • Initiative for Policy Dialogue In July 2000 Stiglitz founded the Initiative for Policy Dialogue (IPD), with support of the Ford, Rockefeller, McArthur, and Mott Foundations and the Canadian and Swedish governments, to enhance democratic processes for decision-making in developing countries and to ensure that a broader range of alternatives are on the table and more stakeholders are at the table.
  • Commission of Experts on Reforms of the International Monetary and Financial System Stiglitz at the World Economic Forum Annual Meeting in Davos, 2009. In 2009, Stiglitz chaired the Commission of Experts on Reforms of the International Monetary and Financial System which was convened by the President of the United Nations General Assembly "to review the workings of the global financial system, including major bodies such as the World Bank and the IMF, and to suggest steps to be taken by Member States to secure a more sustainable and just global economic order".[41] Its final report was released on 21 September 2009.[42][43]
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  • The Price of Inequality: How Today's Divided Society Endangers Our Future (2012) From the jacket: As those at the top continue to enjoy the best health care, education, and benefits of wealth, they often fail to realize that, as Joseph E. Stiglitz highlights, "their fate is bound up with how the other 99 percent live ... It does not have to be this way. In The Price of Inequality Stiglitz lays out a comprehensive agenda to create a more dynamic economy and fairer and more equal society"
Innovation Blues

Austerity - Wikipedia, the free encyclopedia - 0 views

  • In economics, austerity refers to a policy of deficit-cutting by lowering spending often via a reduction in the amount of benefits and public services provided.[1] Austerity policies are often used by governments to try to reduce their deficit spending[2] and are sometimes coupled with increases in taxes to demonstrate long-term fiscal solvency to creditors.[3]
Innovation Blues

Economics: An ordinary Joe | The Economist - 0 views

  • o Mr Stiglitz, this inequality is the result of public policy being captured by a
  • To Mr Stiglitz, this inequality is the result of public policy being captured by an elite who have feathered their own nests at the expense of the rest. They have used their power to distort political debate, pushing through tax cuts to favour the rich and adjusting monetary policy to favour the banks. Many of the new rich are not entrepreneurs but “rent-seekers”, he says, who use monopoly power to boost profits. Mr Stiglitz's views are representative of clever, leftish America and Mr Stiglitz is (mostly) skilled at making his argument. Imagine, he says, what it would be like if the world had free movement of labour, but not of capital. “Countries would compete to attract workers. They would promise good schools and a good environment, as well as low taxes on workers. This could be financed by high taxes on capital.” The result would be a much more equal society. Mr Stiglitz's argument would benefit, however, from a better sense of history and geography. He points to the period between 1950 and 1980 as one where inequality was much reduced. But that was a highly unusual time. For much of recorded history there has been a huge gap between a wealthy landowning class and the rest; the Rockefellers and Carnegies were much richer (in real terms) than any modern plutocrat. Mr Stiglitz also views the housing boom and bust as another result of misguided American policy, but Spain and Ireland had property bubbles too—and they are much more equal societies.
  • When it comes to solutions to the inequality problem, Mr Stiglitz wants a top income tax rate of “well in excess of” 50%, targeted fiscal stimulus and greater bank regulation. Here, perhaps, he might have been more open about the trade-offs. Controls on bank leverage, caps on interest rates and greater protection for bankrupts are all likely to reduce bank lending at a time when there already is a credit squeeze. He admits that the 2009 fiscal stimulus was “not as well designed as it could have been”, but blithely hopes that the convoluted American budget-setting process will result in much better stimulus packages in future. Whether or not he has the right answers, Mr Stiglitz is surely right to focus on the issue. Across the developed world, the average worker is suffering a squeeze in living standards while bankers and chief executives are still doing very nicely. This dichotomy is bound to have social and political consequences.
Innovation Blues

Information asymmetry - Wikipedia, the free encyclopedia - 0 views

  • In economics and contract theory, information asymmetry deals with the study of decisions in transactions where one party has more or better information than the other. This creates an imbalance of power in transactions which can sometimes cause the transactions to go awry, a kind of market failure in the worst case. Examples of this problem are adverse selection,[1] moral hazard, and information monopoly.[2] Most commonly, information asymmetries are studied in the context of principal–agent problems. In 2001, the Nobel Prize in Economics was awarded to George Akerlof, Michael Spence, and Joseph E. Stiglitz "for their analyses of markets with asymmetric information."[3]
  • Information asymmetry models assume that at least one party to a transaction has relevant information whereas the other(s) do not. Some asymmetric information models can also be used in situations where at least one party can enforce, or effectively retaliate for breaches of, certain parts of an agreement whereas the other(s) cannot.
  • In adverse selection models, the ignorant party lacks information while negotiating an agreed understanding of or contract to the transaction, whereas in moral hazard the ignorant party lacks information about performance of the agreed-upon transaction or lacks the ability to retaliate for a breach of the agreement. An example of adverse selection is when people who are high risk are more likely to buy insurance, because the insurance company cannot effectively discriminate against them, usually due to lack of information about the particular individual's risk but also sometimes by force of law or other constraints. An example of moral hazard is when people are more likely to behave recklessly after becoming insured, either because the insurer cannot observe this behavior or cannot effectively retaliate against it, for example by failing to renew the insurance.
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  • This idea was originally studied in the context of looking for a job. An employer is interested in hiring a new employee who is "skilled in learning." Of course, all prospective employees will claim to be "skilled at learning", but only they know if they really are. This is an information asymmetry. Skill in learning is malleable, and depends upon many factors, including diet, exercise and money. Spence proposes, for example, that going to college can function as a credible signal of an ability to learn. Assuming that people who are skilled in learning can finish college more easily than people who are unskilled, then by finishing college the skilled people signal their skill to prospective employers. No matter how much or how little they may have learned in college, finishing functions as a signal of their capacity for learning. However, finishing college may merely function as a signal of their ability to pay for college, it may signal the willingness of individuals to adhere to orthodox views, or it may signal a willingness to comply with authority.
  • Signaling Michael Spence originally proposed the idea of signaling. He proposed that in a situation with information asymmetry, it is possible for people to signal their type, thus believably transferring information to the other party and resolving the asymmetry.
  • Screening Joseph E. Stiglitz pioneered the theory of screening. In this way the underinformed party can induce the other party to reveal their information. They can provide a menu of choices in such a way that the choice depends on the private information of the other party. Examples of situations where the seller usually has better information than the buyer are numerous but include used-car salespeople, mortgage brokers and loan originators, stockbrokers and real estate agents.
  • Examples of situations where the buyer usually has better information than the seller include estate sales as specified in a last will and testament, life insurance, or sales of old art pieces without prior professional assessment of their value.
  • Because of information asymmetry, unscrupulous sellers can "spoof" items (like replica goods such as watches) and defraud the buyer. As a result, many people not willing to risk getting ripped off will avoid certain types of purchases, or will not spend as much for a given item. It is even possible for the market to decay to the point of nonexistence.
Innovation Blues

Nineteen Eighty-Four - Wikipedia, the free encyclopedia - 0 views

  • Nineteen Eighty-Four is a novel by George Orwell published in 1949. It is a dystopian and satirical novel set in Oceania, where society is tyrannized by The Party and its totalitarian ideology.[1] The Oceanian province of Airstrip One is a world of perpetual war, omnipresent government surveillance, and public mind control, dictated by a political system euphemistically named English Socialism (Ingsoc) under the control of a privileged Inner Party elite that persecutes all individualism and independent thinking as thoughtcrimes.[2] Their tyranny is headed by Big Brother, the quasi-divine Party leader who enjoys an intense cult of personality, but who may not even exist. Big Brother and the Party justify their rule in the name of a supposed greater good.[1]
  • George Orwell "encapsulate[d] the thesis at the heart of his unforgiving novel" in 1944, and three years later wrote most of it on the Scottish island of Jura, from 1947 to 1948, despite being seriously ill with tuberculosis.[4] On 4 December 1948, he sent the final manuscript to the publisher Secker and Warburg and Nineteen Eighty-Four was published on 8 June 1949.[5][6] By 1989, it had been translated into sixty-five languages, more than any other novel in English at the time.[7
  • Nineteen Eighty-Four is on Spacious Planet's list of "21 most surprising banned books" for having being banned in Russia and very nearly banned in the UK and the US.[29]
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  • The effect of Nineteen Eighty-Four on the English language is extensive; the concepts of Big Brother, Room 101, the Thought Police, thoughtcrime, unperson, memory hole (oblivion), doublethink (simultaneously holding and believing contradictory beliefs) and Newspeak (ideological language) have become common phrases for denoting totalitarian authority. Doublespeak and groupthink are both deliberate elaborations of doublethink, while the adjective "Orwellian" denotes "characteristic and reminiscent of George Orwell's writings" especially Nineteen Eighty-Four.
  • In September 2009, an album entitled The Resistance was released by English Alternative rock band Muse, which was based entirely on 1984[citation needed], including songs such as "Resistance", "Uprising" and "United States of Eurasia". The album resulted in Muse receiving a Grammy for Best Rock Album at the 53rd Grammys.
  • In November 2011, the United States government argued before the U.S. Supreme Court that it wants to continue utilizing GPS tracking of individuals without first seeking a warrant. In response, Justice Stephen Breyer questioned what this means for a democratic society by referencing Nineteen Eighty-Four. Justice Breyer asked, "If you win this case, then there is nothing to prevent the police or the government from monitoring 24 hours a day the public movement of every citizen of the United States. So if you win, you suddenly produce what sounds like 1984...."[65] In 1984, the book was made into a movie. In 2006, the movie V for Vendetta was released, which has many of the same running themes and principles.[66][67] In Nineteen Eighty-Four, John Hurt portrays Winston Smith, while in V for Vendetta he plays the Big Brother-like figure.[68][69]
Innovation Blues

Volunteer, work, intern, organize, hire and connect. Change the world - idealist.org - 0 views

  •  
    Our Vision We would like to live in a world where: All people can lead free and dignified lives. Every person who wants to help another has the ability to do so. No opportunities for action or collaboration are missed or wasted. Our Mission Idealist connects people, organizations, and resources to help build a world where all people can live free and dignified lives. Idealist is independent of any government, political ideology, or religious creed. Our work is guided by the common desire of our members and supporters to find practical solutions to social and environmental problems, in a spirit of generosity and mutual respect.
Innovation Blues

Science of morality - Wikipedia, the free encyclopedia - 0 views

  • Even the Buddhist ideal of having no desires, and hence no unsatisfied desires, is extremely difficult to achieve and maintain for a whole society – not least of all for younger people (who, Daleiden says, have less self control). Science of morality could never yield a utopia. Nevertheless, science of morality could greatly increase well-being for very many people.[54]
  • Daleiden's last factor in prosocial training, mental associations, is quite familiar: he says it has been traditionally understood as the conscience – where the student learns to feel empathy, and to feel regret for harming others. Unless an individual can, and begins to feel empathy, it may be unlikely that any amount of reasoning, or any coherent moral system will motivate them to behave very altruistically.
  • it should be the intention of adults to shape children, or presumably "indoctrinate" them, to think critically. He adds that the focus is on especially socially relevant values (e.g. kindness, sharing, reasoning) and not the more personal
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  • Religion, although it is not the best method of determining moral norms, has often been very effective at promoting them. Religions often satisfy many of Daleiden's criteria for raising people to be conditioned egoists, especially by practicing the aforementioned elements of prosocial training. He suggests that this is what they are doing when they instill a sense of virtue and justice, right and wrong.
  • Aldous Huxley's novel Brave New World and George Orwell's 1984 imagine dystopian future societies that control the populace by advanced scientific techniques. Harris argues that moral scientists approaching truths does not imply an "Orwellian future" with "scientists at every door". Instead, Harris imagines data about normative moral issues being shared in the same way as other sciences (e.g. peer-reviewed journals on medicine).
  • Science of morality should identify basic components required for human flourishing, drawing heavily on findings from positive psychology. In a proto-scientific example, Abraham Maslow suggested a hierarchy of needs: basic physical survival, then social and self esteem needs, and lastly philosophical and self-actualization.
  • self-
  • Research looking for optimal ethical systems can draw on all the methods of science, especially those used by positive psychology. While this might include obvious methods like asking people to self-report what they think they need to flourish in life – psychology has shown that people are often surprisingly incorrect on these matters (particularly when it comes to making predictions and recollections). Some cases in point: having too many varieties of consumer goods actually creates consumer choice anxiety; when it comes to removing bandages, Dan Ariely's research suggests that "getting it over with as quickly as possible" may cause more negative memories than if one went slowly (with breaks) while being careful never to reach a 'peak' in pain; stress is not always harmful (such stress is called eustress). While very careful use of self-report can still be illuminating (e.g. bogus pipeline techniques), in the end, unconscious methods of inquiry seem to be more promising. Some unconscious methods of data collection include the Implicit Association Test and neuroimaging. In these ways, science can further our understanding of what humans need to flourish, and what ways of organizing society provide the greatest hope for flourishing.
  • Extensive study of cooperation has shed some light on the objective (and subjective) advantages of teamwork and empathy. The brain areas that are consistently involved when humans reason about moral issues have been investigated by a quantitative large-scale meta-analysis of the brain activity changes reported in the moral neuroscience literature.[76] In fact, the neural network underlying moral decisions overlapped with the network pertaining to representing others' intentions (i.e., theory of mind) and the network pertaining to representing others' (vicariously experienced) emotional states (i.e., empathy).
  • There is evidence to suggest that a risk factor for becoming victims of bullying is deficient moral development. Examples of deficient moral development may be something like neglecting an agent's intentions during an action, or blaming them for accidents. In other words, victims of bullying may be more likely to make less accurate moral assessments, for some reason. The researchers also found that, in contrast, bullies were just as morally developed as victim defenders. The difference is that bullies are more able to disengage themselves. That is, for whatever reason, bullies end up suppressing their feelings of compassion and conscience.[77]
Innovation Blues

Self-actualization - Wikipedia, the free encyclopedia - 0 views

  • t is the organism's master motive, the only real motive: "the tendency to actualize itself as fully as possible is the basic drive...the drive of self-actualization."[1] Carl Rogers similarly wrote of "the curative force in psychotherapy - man's tendency to actualize himself, to become his potentialities...to express and activate all the capacities of the organism.
  • Kurt Goldstein's book The Organism: A Holistic Approach to Biology Derived from Pathological Data in Man (1939), presented self-actualization as "the tendency to actualize, as much as possible, [the organism's] individual capacities" in the world.
  • Maslow's Characteristics of Self-Actualizers A self-actualizer is a person who is living creatively and fully using his or her potentials. In his studies, Maslow found that self-actualizers share similarities. Whether famous or unknown, educated or not, rich or poor, self-actualizers tend to fit the following profile.[12] Efficient perceptions of reality. Self-actualizers are able to judge situations correctly and honestly. They are very sensitive to the fake and dishonest. Comfortable acceptance of self, others, nature. Self-actualizers accept their own human nature with all its flaws. The shortcomings of others and the contradictions of the human condition are accepted with humor and tolerance. Spontaneity. Maslow's subjects extended their creativity into everyday activities. Actualizers tend to be unusually alive, engaged, and spontaneous. Task centering. Most of Maslow's subjects had a mission to fulfill in life or some task or problem outside of themselves to pursue. Humanitarians such as Albert Schweitzer and Mother Teresa represent this quality. Autonomy. Self-actualizers are free from reliance on external authorities or other people. They tend to be resourceful and independent. Continued freshness of appreciation. The self-actualizer seems to constantly renew appreciation of life's basic goods. A sunset or a flower will be experienced as intensely time after time as it was at first. There is an "innocence of vision", like that of an artist or child.
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  • aslow's Characteristics of Self-Actualizers A self-actualizer is a person who is living creatively and fully using his or her potentials. In his studies, Maslow found that self-actualizers share similarities. Whether famous or unknown, educated or not, rich or poor, self-actualizers tend to fit the following profile.[12] Efficient perceptions of reality. Self-actualizers are able to judge situations correctly and honestly. They are very sensitive to the fake and dishonest. Comfortable acceptance of self, others, nature. Self-actualizers accept their own human nature with all its flaws. The shortcomings of others and the contradictions of the human condition are accepted with humor and tolerance. Spontaneity. Maslow's subjects extended their creativity into everyday activities. Actualizers tend to be unusually alive, engaged, and spontaneous. Task centering. Most of Maslow's subjects had a mission to fulfill in life or some task or problem outside of themselves to pursue. Humanitarians such as Albert Schweitzer and Mother Teresa represent this quality. Autonomy. Self-actualizers are free from reliance on external authorities or other people. They tend to be resourceful and independent. Continued freshness of appreciation. The self-actualizer seems to constantly renew appreciation of life's basic goods. A sunset or a flower will be experienced as intensely time after time as it was at first. There is an "innocence of vision", like that of an artist or child. Fellowship with humanity. Maslow's subjects felt a deep identification with others and the human situation in general. Profound interpersonal relationships. The interpersonal relationships of self-actualizer
  • Fellowship with humanity. Maslow's subjects felt a deep identification with others and the human situation in general. Profound interpersonal relationships. The interpersonal relationships of self-actualizers are marked by deep loving bonds. Comfort with solitude. Despite their satisfying relationships with others, self-actualizing persons value solitude and are comfortable being alone. [13] Non-hostile sense of humor. This refers to the wonderful capacity to laugh at oneself. It also describes the kind of humor a man like Abraham Lincoln had. Lincoln probably never made a joke that hurt anybody. His wry comments were gentle proddings of human shortcomings. Peak experiences. All of Maslow's subjects reported the frequent occurrence of peak experiences (temporary moments of self-actualization). These occasions were marked by feelings of ecstasy, harmony, and deep meaning. Self-actualizers reported feeling at one with the universe, stronger and calmer than ever before, filled with light, beautiful and good, and so forth. In summary, self-actualizers feel safe, not anxious, accepted, loved, loving, and alive. Additionally, Schott discussed in connection with transpersonal business studies.
  • Broader criticism from within humanistic psychology of the concept of self-actualization includes the danger that 'emphasis on the actualizing tendency...can lead to a highly positive view of the human being but one which is strangely non-relational'.[20] According to Fritz Perls there is also the risk of confusing "self-actualizing and self-image actualizing...the curse of the ideal."[21] By conflating "the virtue of self-actualization and the reality of self-actualization,"[22] the latter becomes merely another measuring rod for the "topdog"
  • I have received a fair number of letters saying 'I am a self-actualized person'. Maslow said that he must have left something out. Fritz (Perls) put it in. He saw that most people actualized a self-concept. This is not self-actualizing."[24]
Innovation Blues

Comments on Economics: An ordinary Joe | The Economist - 0 views

  • Finally, countless Americans are, by world standards, vastly over-paid and have been found out. There is nothing a laborer in Manhattan can do that someone just as competent but living in El Salvador cannot do for perhaps one-fifth the price. It should be no surprise that 6% of the world's population can no longer enjoy 25% of the world's output -- there was no place to go but down.
  • Normally, the lack of a middle class would preclude a nation from being a world power, but the Anglo-American establishment was able to pay for American industrialization by borrowing British capital; from America’s inception until World War I, it was a debtor nation.
  • Unlike England, which prior to the welfare state of 1909, really did have a large middle class (roughly 40% of the population) America never did; for most of its history the middle class have never been more than 6% of Americans (probably less the 3% today). Middle Class values were the preserve of the WASP establishment, a small elite of German Jews, an even smaller elite of African-Americansand an assortment of assimilated white “ethnics”, but for the most part the American population was working class; focused on today, consuming all they produced.
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  • When Pat gets old he can retire comfortably and leave his widow comfortable as well, again was this because of savings, no; Pat got a company pension (inflation adjusted) and health care for the rest of his life with right of survivorship. All of this sounds great, but it wasn’t real; it was all a result of America ability to overcharge the world for capital goods; the costs of all these benefits were passed on to the rest of the world in higher priced capital good and dollar inflation. These programs allowed people to live middle class lives they never earned and could never keep (absent the programs). In fact, by 1970 it cost an American producer more in labor cost per ton of steel than what he could get for it on the world market. The fantasy world America has built post-World War 2 has been falling apart since the 1980s and the last leg, the dollars reserve currency status, is about to go. The disappearance of the American Dream is simply America reverting back to where its populations core values and behavior patterns would naturally take it.
  • The American Dream is rapidly fading because it was never real or at least never genuinely earned by Americans. When I speak of the “Middle Class”, I don’t simply mean possessing a middle class income, but rather having middle class patterns of behavior and world views. To be middle class is to be future time preference oriented; to accept short term pain for long term gain; to always be looking to get ahead and to plan ahead. Simply put, to be middle class is to consume less than what you produce, reinvesting the excess to produce more in the future.
  • America was the only large industrial power left standing after World War 2 and because it could charge the rest of the world what it wanted for capital goods, it could extract “rents” to support the fantasy of the American Dream. Consider the 1950s, the beginning of universal White middle-classdom and take a typical Irish guy; Pat. Pat grew up in an ethnic Irish slum like his father and grandfather, but he now can afford to buy a house; is it because he diligently saved his money and stayed focused, no; it is because he can get a VA loan or an FHA loan with no money down and easy payments. Pat dropped out of school at 16 and is not too interested in expanding his skills, is he on the streets, no; because of unions he can get an assembly line job. Moreover, because the NLR act effectively unionized every major industrial company and industry, Pat can look forward to annual raises (regardless of productivity) for his entire working life. When his children are old enough, Pat can afford to send them to college, is it because he saved before each child was born and spaced his children accordingly, no; they can get government loans , grants, and go to a subsides state college. When Pats parents get old they are not a burden, is it because they learned middleclass values and started to save, no; his parents rely on social security and Medicare (after 1965).
  • Europe is on the verge of a complete and total economic collapse...why?...because for decades their government has used force to take money from those who work hard and then give that money to those who don't work hard.
  • The capitalist equivalent of a socialist revolution is a Great Depression that wipes out the value of the paper assets the wealthy had accumulated, leaving the government to reallocate the real assets more equally. We almost had this happen in 2008, but the 1 percent blackmailed the rest with fear of collateral damage.
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