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sissij

The 'Goddess' Yi Wan Ka: Ivanka Trump Is a Hit in China - The New York Times - 1 views

  • But in China, Ms. Trump is widely adored. Her lavish lifestyle and business acumen resonate with many young professionals who are hungry for fame and fortune in a society that often equates material wealth with success.
  • “She’s very independent,” said Wang Jiabao, 28, a reality television producer in Beijing. “She represents what we’re looking for — to marry into a decent family, to look good, and to also have your own career.”
  • Chinese companies have also tried to profit from Ms. Trump’s popularity, filing hundreds of trademark applications using her name — Yi Wan Ka in Chinese — on products and services such as shoes, spa treatments, plastic surgery and pottery.
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  • “Underneath her image are very traditional values,” said Dai Linjia, a communications consultant. “Her family is almost like a dynasty.”
  • Many younger Chinese will be watching this week’s meeting between Mr. Trump and Mr. Xi for signs of Ms. Trump.
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    I found it very interesting that Chinese people tends to have a really good impression on Ivanka Trump. For many people, Ivanka even becomes the reason why they like Mr. Trump. I think the popularity of Ivanka is sort of related to the culture and value of Chinese people. Chinese are well known for that they value their children's education a lot. And Ivanka's story appeals to them as a successful model of raising a child. It reminds me of what we learned in TOK. People are eccentric. They like to take in what appeals to them what they are familiar with.Ivanka becomes a successful stereotype. --Sissi 4/6/2017)
Javier E

The Meaningfulness of Lives - NYTimes.com - 0 views

  • A meaningful life, she claims, is distinct from a happy life or a morally good one. In her view, “meaning arises when subjective attraction meets objective attractiveness.” A meaningful life must, in some sense then, feel worthwhile.  The person living the life must be engaged by it.  A life of commitment to causes that are generally defined as worthy — like feeding and clothing the poor or ministering to the ill — but that do not move the person participating in them will lack meaningfulness in this sense. However, for a life to be meaningful, it must also be worthwhile
  • the first step we might take beyond what Wolf tells us is to recognize that lives unfold over time.  A life is not an unrelated series of actions or projects or states of being.  A life has, we might say, a trajectory.
  • If a life has a trajectory, then it can be conceived narratively.  A human life can be seen as a story, or as a series of stories that are more or less related. 
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  • we must ask what lends objective worthiness to a life outside the moral realm.  Here is where the narrative character of a life comes into play.
  • There are values we associate with a good narrative and its characters that are distinct from those we associate with good morals.  A fictional character can be intense, adventurous, steadfast or subtle. 
  • When a life embodies one or more of these values (or others), and feels engaging to the one who lives it, it is to that extent meaningful.  There are narrative values expressed by human lives that are not reducible to moral values.  Nor are they reducible to happiness; they are not simply matters of subjective feeling.  Narrative values are not felt, they are lived
  • An intense life, for instance, can be lived with abandon.
  • We should not take this to imply that there is no relationship between meaningfulness and morality.  They meet at certain moral limits.  An evil life, no matter how intense or steadfast, is not one we would want to call meaningful.
  • But within the parameters of those moral limits, the relationship between a meaningful life and a moral one is complicated.  They do not map directly onto each other.
  • If we want to live meaningful lives, we might want to know something about what makes a life so.  Otherwise, we’re just taking stabs in the dark.
  • we are currently encouraged to think of ourselves either as consumers or as entrepreneurs.  We are told to be shoppers for goods or investors for return.  Neither of these types of lives, if they are the dominant character of those lives, strike me as particularly meaningful.
  • their narrative themes — buying, investing — are rarely the stuff of which a compelling life narrative is made.
  • In what I have called an age of economics, it is even more urgent to ask the question of a meaningful life:  what it consists in, how we might live one.  Philosophy cannot prescribe the particular character of meaning that each of us should embrace.  It cannot tell each of us individually how we might trace the trajectory that is allotted to us.  But it can, and ought to, reflect upon the framework within which we consider these questions, and in doing so perhaps offer a lucidity we might otherwise lack
  • Who among us has not asked whether his or her life is a meaningful one? 
Javier E

A Vote for Reason - NYTimes.com - 1 views

  • In Haidt’s view, the philosophers’ dream of reason isn’t just naïve, it is radically unfounded, the product of what he calls “the rationalist delusion.” As he puts it, “Anyone who values truth should stop worshiping reason
  • According to Haidt, not only are value judgments less often a product of rational deliberation than we’d like to think, that is how we are supposed to function. That it is how we are hardwired by evolution. In the neuroscientist Drew Westen’s words, the political brain is the emotional brain.
  • Indeed, reason sometimes seems simply beside the point. Consider some of Haidt’s own well-known research on “moral dumbfounding.”
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  • Haidt suggests that this means that whatever reasons they could come up with seem to be just along for the ride: it was their feelings doing the work of judgment.
  • The inability for people — in particular young college students like those in Haidt’s study — to be immediately articulate about why they’ve made an intuitive judgment doesn’t necessarily show that their judgment is the outcome of non-rational process, or even that they lack reasons for their view. Intuitions, moral or otherwise, can be the result of sources that can be rationally evaluated and calibrated.
  • Moreover, rational deliberation is not a switch to be thrown on or off. It is a process, and therefore many of its effects would have to be measured over time.
  • as other studies have suggested when people are given more time to reflect, they can change their beliefs to fit the evidence, even when those beliefs might be initially emotionally uncomfortable to them.
  • it seems downright likely that rational deliberation is going to be involved in the creation of new moral concepts — such as human rights. In short, to show that reasons have no role in value judgments, we would need to show that they have no role in changes in moral views over time.
  • Haidt takes from this a general lesson about the value of defending our views with reasons. Just as those who do the “right” thing are not really motivated by a desire for justice, those who defend their views with reasons are not “really” after the truth.
  • even if appeals to evidence are sometimes effective in changing our political values over time, that’s only because reasons themselves are aimed at manipulating others into agreeing with us, not uncovering the fact
  • Even if we could start seeing ourselves as giving reasons only to manipulate, it is unclear that we should.  To see ourselves as Glauconians is to treat the exchange of reasons as a slow-moving, less effective version of the political correctness drug I mentioned at the outset. And we are right to recoil from that. It is a profoundly undemocratic idea.
  • To engage in democratic politics means seeing your fellow citizens as equal autonomous agents capable of making up their own minds. And that means that in a functioning democracy, we owe one another reasons for our political actions. And obviously these reasons can’t be “reasons” of force and manipulation,
  • Glauconians are marketers; persuasion is the game and truth is beside the point. But once we begin to see ourselves — and everyone else — in this way, we cease seeing one another as equal participants in the democratic enterprise. We are only pieces to be manipulated on the board.
  • to see one another as reason-givers doesn’t mean we must perceive one another as emotionless, unintuitive robots. It is consistent with the idea, rightly emphasized by Haidt, that much rapid-fire decision making comes from the gut. But it is also consistent with the idea that we can get better at spotting when the gut is leading us astray, even if the process is slower and more ponderous than we’d like
caelengrubb

Microeconomics - Econlib - 0 views

  • The motivating force for the change came from the macro side, with modern macroeconomics being far more explicit than old-fashioned monetary theory about fluctuations in income and employment (as well as the price level).
  • The strength of microeconomics comes from the simplicity of its underlying structure and its close touch with the real world. In a nutshell, microeconomics has to do with supply and demand, and with the way they interact in various markets.
  • Public finance (see public choice) looks at how the government enters the scene. Traditionally, its focus was on taxes, which automatically introduce “wedges” (differences between the price the buyer pays and the price the seller receives) and cause inefficiency.
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  • Applied welfare economics is the fruition of microeconomics.
  • It is hard to imagine a basic course in microeconomics failing to include numerous cases and examples drawn from all of the fields listed above. This is because microeconomics is so basic. It represents the trunk of the tree from which all the listed subfields have branche
  • The specialization of production and the institutions of trade, commerce, and markets long antedated the science of economics. Indeed, one can fairly say that from the very outset the science of economics entailed the study of the market forms that arose quite naturally (and without any help from economists) out of human behavior
  • In microeconomics this is translated into the notion of people maximizing their personal “utility,” or welfare.
  • At the beginning of the process, those who adopted the new hybrids made handsome profits.
  • The economics of supply and demand has a sort of moral or normative overtone, at least when it comes to dealing with a wide range of market distortions. In an undistorted market, buyers pay the market price up to the point where they judge further units not to be worth that price, while competitive sellers supply added units as long as they can make money on each increment.
  • Many different distortions can create similar anomalies. If cotton is subsidized, the price farmers get will exceed, by the amount of the subsidy, the value to consumers. Society thus stands to gain by eliminating the subsidy and moving to a price that is the same for both buyers and sellers.
  • If price controls keep bread (or anything else) artificially cheap, the predictable result is that less will be supplied than is demanded.
  • Had the government given wheat farmers coupons, each of which permitted the farmer to market one bushel of wheat, wheat marketings could have been cut by the desired amount. Production inefficiencies could be avoided by allowing the farmers to buy and sell coupons among themselves.
  • monopoly represents the artificial restriction of production by an entity having sufficient “market power” to do so.
  • Modern monopolies are a bit less transparent, for two reasons. First, even though governments still grant monopolies, they usually grant them to the producers. Second, some monopolies just happen without government creating them, although these are usually short-lived.
  • A final example of what occurs with official prices that are too high is the phenomenon of “rent seeking,” which occurs when someone enters a business to earn a profit that the government has tried to make unusually high.
  • If the wage does not adjust downward to equate supply and demand, the rate of urban unemployment will rise until further migration is deterred. Still other examples are in banking and drugs.
  • Rent seeking also occurs when something of value (like import licenses or radio/TV franchises) is being given away or sold below its true value
  • The great unifying principles of microeconomics are, ever and always, supply and demand. The normative overtone of microeconomics comes from the fact that competitive supply price represents value as seen by suppliers, and competitive demand price represents value as seen by demanders.
runlai_jiang

Taking On Adam Smith (and Karl Marx) - The New York Times - 0 views

  • “This sort of vaccinated me for life against lazy, anticapitalist rhetoric, because when you see these empty shops, you see these people queuing for nothing in the street,” he said, “it became clear to me that we need private property and market institutions, not just for economic efficiency but for personal freedom.”
  • But his disenchantment with communism doesn’t mean that Mr. Piketty has turned his back on the intellectual heritage of Karl Marx, who sought to explain the “iron laws” of capitalism. Like Marx, he is fiercely critical of the economic and social inequalities that untrammeled capitalism produces — and, he concludes, will continue to worsen. “I belong to a generation that never had any temptation with the Communist Party; I was too young for that,” Mr. Piketty said, in
  • In his new book “Capital in the Twenty-First Century” (Harvard University Press), Mr. Piketty, 42, has written a blockbuster, at least in the world of economics. His book punctures earlier assumptions about the benevolence of advanced capitalism and forecasts sharply increasing inequality of wealth in industrialized countries, with deep and deleterious impact on democratic values of justice and fairness.
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  • Branko Milanovic, a former economist at the World Bank, called it “one of the watershed books in economic thinking.
  • “Capital in the Twenty-First Century,” with its title echoing Marx’s “Das Kapital,” is meant to be a return to the kind of economic history, of political economy, written by predecessors like Marx and Adam Smith. It is nothing less than a broad effort to understand Western societies and the economic rules that underpin them.
  • he said, are his generation’s “founding experiences”: the collapse of Communism, the economic degradation of Eastern Europe and the first Gulf War, in 1991.
  • Those events motivated him to try to understand a world where economic ideas had such bad consequences. As for the Gulf War, it showed him that “governments can do a lot in terms of redistribution of wealth when they want.” The rapid intervention to fo
  • The reason that postwar economies looked different — that inequality fell — was historical catastrophe. World War I, the Depression and World War II destroyed huge accumulations of private capital, especially in Europe. What the French call “les
  • In 2012 the top 1 percent of American households collected 22.5 percent of the nation’s income, the highest total since 1928. The richest 10 percent of Americans now take a larger slice of the pie than in 1913, at the close of the Gilded Age, owning more than 70 percent of the nation’s wealth. And half of that is owned by the top 1 percent. Advertisement Continue reading the main story Mr. Piketty, father of three daughters — 11, 13 and 16 — is no revolutionary. He is a member of no political party, and says he never served as an economic adviser to any politician. He calls himself a pragmatist, who simply follows the data.
  • Net wealth is a better indicator of ability to pay than income alone, he said. “All I’m proposing is to reduce the property tax on half or three-quarters of the population who have very little wealth,” he said. Write A Comment Published a year ago in French, the book is not without critics, especially of Mr. Piketty’s policy prescriptions, which have been called politically naïve. Others point out that some of the increase in capital is because of aging populations and postwar pension plans, which are not necessarily inherited.More criticism is sure to come, and Mr. Piketty says he welcomes it. “I’m certainly looking forward to the debate.”
aliciathompson1

Macy's, Univision, and NBC Dropping Trump Over Mexican Comments Could Cost Him - The At... - 0 views

  • Donald Trump’s run for the presidency is premised on one fact above all: He’s a fabulously successful businessman. And yet, paradoxically, running for president may be the most disastrous business decision he’s made—or, at the very least, his worst in a while.
  • It’s unclear what the value of Trump’s NBC, Macy’s, and Serta deals were, but it’s a safe bet that altogether they’re a bigger deal to Trump than they are to any one of those corporations
  • How did Trump get from $250 million, the upper end of O’Brien’s range, in 2005 to $9 billion today? It’s been 10 years, and an already-wealthy person can make a lot of money in 10 years, but that decade also included a massive economic slump, a crisis in real estate (putatively Trump’s core business), and a 2009 declaration of Chapter 11 bankruptcy by his casino group. One way to get to the $9 billion figure is that, as Jordan Weissmann highlighted, Trump estimates that the value of his name alone is worth more than a third of tha
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  • The thing about Trump’s comments about Mexicans and his clumsy attempts at clean-up since is that they don’t just hurt him directly, in the loss of earnings from the Miss USA contest or any of those ties and shirts; they also degrade the value of his brand and reputation. So even if you take Trump’s self-valuation at face value, you can see how his comments about Mexican immigrants have been costly.
  • And now he has validated his own point in an unfortunate way: By any measure, the campaign has been terrible for his brand.
Javier E

Forget the Money, Follow the Sacredness - NYTimes.com - 0 views

  • Despite what you might have learned in Economics 101, people aren’t always selfish. In politics, they’re more often groupish. When people feel that a group they value — be it racial, religious, regional or ideological — is under attack, they rally to its defense, even at some cost to themselves. We evolved to be tribal, and politics is a competition among coalitions of tribes.
  • The key to understanding tribal behavior is not money, it’s sacredness. The great trick that humans developed at some point in the last few hundred thousand years is the ability to circle around a tree, rock, ancestor, flag, book or god, and then treat that thing as sacred. People who worship the same idol can trust one another, work as a team and prevail over less cohesive groups. So if you want to understand politics, and especially our divisive culture wars, you must follow the sacredness.
  • A good way to follow the sacredness is to listen to the stories that each tribe tells about itself and the larger nation.
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  • The Notre Dame sociologist Christian Smith once summarized the moral narrative told by the American left like this: “Once upon a time, the vast majority” of people suffered in societies that were “unjust, unhealthy, repressive and oppressive.” These societies were “reprehensible because of their deep-rooted inequality, exploitation and irrational traditionalism — all of which made life very unfair, unpleasant and short. But the noble human aspiration for autonomy, equality and prosperity struggled mightily against the forces of misery and oppression and eventually succeeded in establishing modern, liberal, democratic, capitalist, welfare societies.” Despite our progress, “there is much work to be done to dismantle the powerful vestiges of inequality, exploitation and repression.” This struggle, as Smith put it, “is the one mission truly worth dedicating one’s life to achieving.”This is a heroic liberation narrative. For the American left, African-Americans, women and other victimized groups are the sacred objects at the center of the story. As liberals circle around these groups, they bond together and gain a sense of righteous common purpose.
  • the Reagan narrative like this: “Once upon a time, America was a shining beacon. Then liberals came along and erected an enormous federal bureaucracy that handcuffed the invisible hand of the free market. They subverted our traditional American values and opposed God and faith at every step of the way.” For example, “instead of requiring that people work for a living, they siphoned money from hard-working Americans and gave it to Cadillac-driving drug addicts and welfare queens.” Instead of the “traditional American values of family, fidelity and personal responsibility, they preached promiscuity, premarital sex and the gay lifestyle” and instead of “projecting strength to those who would do evil around the world, they cut military budgets, disrespected our soldiers in uniform and burned our flag.” In response, “Americans decided to take their country back from those who sought to undermine it.”This, too, is a heroic narrative, but it’s a heroism of defense. In this narrative it’s God and country that are sacred — hence the importance in conservative iconography of the Bible, the flag, the military and the founding fathers. But the subtext in this narrative is about moral order. For social conservatives, religion and the traditional family are so important in part because they foster self-control, create moral order and fend off chaos.
  • Part of Reagan’s political genius was that he told a single story about America that rallied libertarians and social conservatives, who are otherwise strange bedfellows. He did this by presenting liberal activist government as the single devil that is eternally bent on destroying two different sets of sacred values — economic liberty and moral order. Only if all nonliberals unite into a coalition of tribes can this devil be defeated.
Javier E

Chick-fil-A is Bad For Your Political Health | Patrol - A review of religion and the mo... - 0 views

  • The premise is that politics and economics are separate realms, and we are “creating a culture” of division by dragging politics into such things as economic transactions. One could hardly better encapsulate the reality we live under, where economics have completely replaced politics. That’s pretty much the definition of classical liberalism: true politics, where human values are disputed, are expected to be sublimated by economic transactions.
  • The winner is the corporation, which can now reap the profits of a society where no human value is allowed to be more important than a business deal. (If you question that orthodoxy, you’re likely to be labeled a “radical” or a “partisan,” or better yet, just “too political.”) This ideology owes its entire existence to the need for capitalists to keep human values out of the way of the market. Above all, it must keep politics a dirty word, because people who know what politics are and how to use them can cause trouble for capitalists very quickly.
  • our commercial and our political lives are already completely intermeshed, because under the current regime we basically only have commercial lives. The only political power to be had in the United States is money, and even if you don’t have enough to make a corporation hurt, how you consume is one of the few expressions of political will open to the average citizen. They may not have enough money to shake the economy, and may not even when pooled with a large group of like-minded people. But a visceral awareness that money is politics is an excellent first step toward the average person realizing his or her political agency and taking responsibility for it.
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  • Even if the corporatization of our society is so complete that it is objectively impossible to avoid giving money to entities that are at that very moment working to undermine our political freedoms, every religious and ethically-minded institution should be urging those under its influence to be aware and resist wherever possible.
  • In sum, you should absolutely be supporting corporations that put human values ahead of profit, and doing your best to keep your dollars away from ones that exploit workers and try to obstruct democracy, whether directly by stripping workers of their rights or indirectly by supporting the exclusionary social fantasies of religious reactionaries.
Javier E

Start-Ups Aim to Help Users Put a Price on Their Personal Data - NYTimes.com - 0 views

  • there is some momentum for the idea that personal data could function as a kind of online currency, to be cashed in directly or exchanged for other items of value. A number of start-ups allow people to take control — and perhaps profit from — the digital trails that they leave on the Internet.
  • Personal data management has none of the obvious appeal of social networks or smartphones. But concerns about privacy may be changing that, Mr. Hoffman said.
  • Many of the new ideas center on a concept known as the personal data locker. People keep a single account with information about themselves. Businesses would pay for this data because it allows them to offer personalized products and advertising. And because people retain control over the data in their lockers, they can demand something of value in return. Maybe a discounted vacation, or a cash payment.
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  • The first step seems to be establishing trust. Reputation.com monitors the Internet for potentially harmful information and tries to remove it, while the Locker Project looks to create a single place where users can find what they see and do online. On Connect.me, which is in a private testing period, users vouch for one another, confirming that, for instance, someone is indeed a basketball player or a bookworm in an attempt to create a credible online reputation.
  • In January the White House announced that it would work with Personal and several other companies to allow students to download their academic data from federal databases and store it in a data locker.
  • A study by JPMorgan Chase last year showed that a unique user was worth $4 to Facebook and $24 to Google. Others looked at Facebook’s recent filings with the Securities and Exchange Commission and placed the value of a user as high as $120.
  • The final barrier is that people may find creating detailed databases about themselves too onerous to justify the potential rewards. In order to create a real market for data, enough people need to see an immediate, tangible benefit in filling up their lockers, said Mr. Green of Personal.
Javier E

The American Scholar: The Disadvantages of an Elite Education - William Deresiewicz - 1 views

  • the last thing an elite education will teach you is its own inadequacy
  • I’m talking about the whole system in which these skirmishes play out. Not just the Ivy League and its peer institutions, but also the mechanisms that get you there in the first place: the private and affluent public “feeder” schools, the ever-growing parastructure of tutors and test-prep courses and enrichment programs, the whole admissions frenzy and everything that leads up to and away from it. The message, as always, is the medium. Before, after, and around the elite college classroom, a constellation of values is ceaselessly inculcated.
  • The first disadvantage of an elite education, as I learned in my kitchen that day, is that it makes you incapable of talking to people who aren’t like you. Elite schools pride themselves on their diversity, but that diversity is almost entirely a matter of ethnicity and race. With respect to class, these schools are largely—indeed increasingly—homogeneous. Visit any elite campus in our great nation and you can thrill to the heartwarming spectacle of the children of white businesspeople and professionals studying and playing alongside the children of black, Asian, and Latino businesspeople and professionals.
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  • My education taught me to believe that people who didn’t go to an Ivy League or equivalent school weren’t worth talking to, regardless of their class. I was given the unmistakable message that such people were beneath me.
  • The existence of multiple forms of intelligence has become a commonplace, but however much elite universities like to sprinkle their incoming classes with a few actors or violinists, they select for and develop one form of intelligence: the analytic.
  • Students at places like Cleveland State, unlike those at places like Yale, don’t have a platoon of advisers and tutors and deans to write out excuses for late work, give them extra help when they need it, pick them up when they fall down.
  • When people say that students at elite schools have a strong sense of entitlement, they mean that those students think they deserve more than other people because their SAT scores are higher.
  • The political implications should be clear. As John Ruskin told an older elite, grabbing what you can get isn’t any less wicked when you grab it with the power of your brains than with the power of your fists.
  • students at places like Yale get an endless string of second chances. Not so at places like Cleveland State.
  • The second disadvantage, implicit in what I’ve been saying, is that an elite education inculcates a false sense of self-worth. Getting to an elite college, being at an elite college, and going on from an elite college—all involve numerical rankings: SAT, GPA, GRE. You learn to think of yourself in terms of those numbers. They come to signify not only your fate, but your identity; not only your identity, but your value.
  • For the elite, there’s always another extension—a bailout, a pardon, a stint in rehab—always plenty of contacts and special stipends—the country club, the conference, the year-end bonus, the dividend.
  • In short, the way students are treated in college trains them for the social position they will occupy once they get out. At schools like Cleveland State, they’re being trained for positions somewhere in the middle of the class system, in the depths of one bureaucracy or another. They’re being conditioned for lives with few second chances, no extensions, little support, narrow opportunity—lives of subordination, supervision, and control, lives of deadlines, not guidelines. At places like Yale, of course, it’s the reverse.
  • Elite schools nurture excellence, but they also nurture what a former Yale graduate student I know calls “entitled mediocrity.”
  • An elite education gives you the chance to be rich—which is, after all, what we’re talking about—but it takes away the chance not to be. Yet the opportunity not to be rich is one of the greatest opportunities with which young Americans have been blessed. We live in a society that is itself so wealthy that it can afford to provide a decent living to whole classes of people who in other countries exist (or in earlier times existed) on the brink of poverty or, at least, of indignity. You can live comfortably in the United States as a schoolteacher, or a community organizer, or a civil rights lawyer, or an artist
  • The liberal arts university is becoming the corporate university, its center of gravity shifting to technical fields where scholarly expertise can be parlayed into lucrative business opportunities.
  • You have to live in an ordinary house instead of an apartment in Manhattan or a mansion in L.A.; you have to drive a Honda instead of a BMW or a Hummer; you have to vacation in Florida instead of Barbados or Paris, but what are such losses when set against the opportunity to do work you believe in, work you’re suited for, work you love, every day of your life? Yet it is precisely that opportunity that an elite education takes away. How can I be a schoolteacher—wouldn’t that be a waste of my expensive education?
  • Isn’t it beneath me? So a whole universe of possibility closes, and you miss your true calling.
  • This is not to say that students from elite colleges never pursue a riskier or less lucrative course after graduation, but even when they do, they tend to give up more quickly than others.
  • But if you’re afraid to fail, you’re afraid to take risks, which begins to explain the final and most damning disadvantage of an elite education: that it is profoundly anti-intellectual.
  • being an intellectual is not the same as being smart. Being an intellectual means more than doing your homework.
  • The system forgot to teach them, along the way to the prestige admissions and the lucrative jobs, that the most important achievements can’t be measured by a letter or a number or a name. It forgot that the true purpose of education is to make minds, not careers.
  • Being an intellectual means, first of all, being passionate about ideas—and not just for the duration of a semester, for the sake of pleasing the teacher, or for getting a good grade.
  • Only a small minority have seen their education as part of a larger intellectual journey, have approached the work of the mind with a pilgrim soul. These few have tended to feel like freaks, not least because they get so little support from the university itself. Places like Yale, as one of them put it to me, are not conducive to searchers. GA_googleFillSlot('Rectangle_InArticle_Right'); GA_googleCreateDomIframe("google_ads_div_Rectangle_InArticle_Right_ad_container" ,"Rectangle_InArticle_Right"); Places like Yale are simply not set up to help students ask the big questions
  • Professors at top research institutions are valued exclusively for the quality of their scholarly work; time spent on teaching is time lost. If students want a conversion experience, they’re better off at a liberal arts college.
  • When elite universities boast that they teach their students how to think, they mean that they teach them the analytic and rhetorical skills necessary for success in law or medicine or science or business.
  • Although the notion of breadth is implicit in the very idea of a liberal arts education, the admissions process increasingly selects for kids who have already begun to think of themselves in specialized terms—the junior journalist, the budding astronomer, the language prodigy. We are slouching, even at elite schools, toward a glorified form of vocational training.
  • There’s a reason elite schools speak of training leaders, not thinkers—holders of power, not its critics. An independent mind is independent of all allegiances, and elite schools, which get a large percentage of their budget from alumni giving, are strongly invested in fostering institutional loyalty.
  • At a school like Yale, students who come to class and work hard expect nothing less than an A-. And most of the time, they get it.
  • Yet there is a dimension of the intellectual life that lies above the passion for ideas, though so thoroughly has our culture been sanitized of it that it is hardly surprising if it was beyond the reach of even my most alert students. Since the idea of the intellectual emerged in the 18th century, it has had, at its core, a commitment to social transformation. Being an intellectual means thinking your way toward a vision of the good society and then trying to realize that vision by speaking truth to power.
  • It takes more than just intellect; it takes imagination and courage.
  • Being an intellectual begins with thinking your way outside of your assumptions and the system that enforces them. But students who get into elite schools are precisely the ones who have best learned to work within the system, so it’s almost impossible for them to see outside it, to see that it’s even there.
  • Paradoxically, the situation may be better at second-tier schools and, in particular, again, at liberal arts colleges than at the most prestigious universities. Some students end up at second-tier schools because they’re exactly like students at Harvard or Yale, only less gifted or driven. But others end up there because they have a more independent spirit. They didn’t get straight A’s because they couldn’t be bothered to give everything in every class. They concentrated on the ones that meant the most to them or on a single strong extracurricular passion or on projects that had nothing to do with school
  • I’ve been struck, during my time at Yale, by how similar everyone looks. You hardly see any hippies or punks or art-school types, and at a college that was known in the ’80s as the Gay Ivy, few out lesbians and no gender queers. The geeks don’t look all that geeky; the fashionable kids go in for understated elegance. Thirty-two flavors, all of them vanilla.
  • The most elite schools have become places of a narrow and suffocating normalcy. Everyone feels pressure to maintain the kind of appearance—and affect—that go with achievement
  • Now that students are in constant electronic contact, they never have trouble finding each other. But it’s not as if their compulsive sociability is enabling them to develop deep friendships.
  • What happens when busyness and sociability leave no room for solitude? The ability to engage in introspection, I put it to my students that day, is the essential precondition for living an intellectual life, and the essential precondition for introspection is solitude
  • the life of the mind is lived one mind at a time: one solitary, skeptical, resistant mind at a time. The best place to cultivate it is not within an educational system whose real purpose is to reproduce the class system.
Roth johnson

https://www.google.com/webhp?sourceid=chrome-instant&espv=210&ie=UTF-8 - 1 views

shared by Roth johnson on 20 Nov 13 - No Cached
  •  
    How much is life worth? How do we value life? Why/how do people value life differently?
Javier E

Guess Who Doesn't Fit In at Work - NYTimes.com - 0 views

  • ACROSS cultures and industries, managers strongly prize “cultural fit” — the idea that the best employees are like-minded.
  • One recent survey found that more than 80 percent of employers worldwide named cultural fit as a top hiring priority.
  • When done carefully, selecting new workers this way can make organizations more productive and profitable.
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  • In the process, fit has become a catchall used to justify hiring people who are similar to decision makers and rejecting people who are not.
  • The concept of fit first gained traction in the 1980s. The original idea was that if companies hired individuals whose personalities and values — and not just their skills — meshed with an organization’s strategy, workers would feel more attached to their jobs, work harder and stay longer.
  • in many organizations, fit has gone rogue. I saw this firsthand while researching the hiring practices of the country’s top investment banks, management consultancies and law firms. I interviewed 120 decision makers and spent nine months observing
  • While résumés (and connections) influenced which applicants made it into the interview room, interviewers’ perceptions of fit strongly shaped who walked out with job offers.
  • Crucially, though, for these gatekeepers, fit was not about a match with organizational values. It was about personal fit. In these time- and team-intensive jobs, professionals at all levels of seniority reported wanting to hire people with whom they enjoyed hanging out and could foresee developing close relationships with
  • To judge fit, interviewers commonly relied on chemistry. “
  • Many used the “airport test.” As a managing director at an investment bank put it, “Would I want to be stuck in an airport in Minneapolis in a snowstorm with them?”
  • interviewers were primarily interested in new hires whose hobbies, hometowns and biographies matched their own. Bonding over rowing college crew, getting certified in scuba, sipping single-malt Scotches in the Highlands or dining at Michelin-starred restaurants was evidence of fit; sharing a love of teamwork or a passion for pleasing clients was not
  • it has become a common feature of American corporate culture. Employers routinely ask job applicants about their hobbies and what they like to do for fun, while a complementary self-help industry informs white-collar job seekers that chemistry, not qualifications, will win them an offer.
  • Selection based on personal fit can keep demographic and cultural diversity low
  • In the elite firms I studied, the types of shared experiences associated with fit typically required large investments of time and money.
  • Class-biased definitions of fit are one reason investment banks, management consulting firms and law firms are dominated by people from the highest socioeconomic backgrounds
  • Also, whether the industry is finance, high-tech or fashion, a good fit in most American corporations still tends to be stereotypically masculine.
  • Perhaps most important, it is easy to mistake rapport for skill. Just as they erroneously believe that they can accurately tell when someone is lying, people tend to be overly confident in their ability to spot talent. Unstructured interviews, which are the most popular hiring tools for American managers and the primary way they judge fit, are notoriously poor predictors of job performance.
  • Organizations that use cultural fit for competitive advantage tend to favor concrete tools like surveys and structured interviews that systematically test behaviors associated with increased performance and employee retention.
  • For managers who want to use cultural fit in a more productive way, I have several suggestions.
  • First, communicate a clear and consistent idea of what the organization’s culture is (and is not) to potential employees. Second, make sure the definition of cultural fit is closely aligned with business goals. Ideally, fit should be based on data-driven analysis of what types of values, traits and behaviors actually predict on-the-job success. Third, create formal procedures like checklists for measuring fit, so that assessment is not left up to the eyes (and extracurriculars) of the beholder.
  • But cultural fit has become a new form of discrimination that keeps demographic and cultural diversity down
charlottedonoho

Organizational Success and Culture | Great Work Cultures - 0 views

  • Despite his best efforts, none of his business ventures ever achieved any commercial success, but his journey sparked in me an immense desire to understand how successful businesses are structured and managed. What I have come to appreciate is that no management structure or style is certain to result in business success but organizational cultures that encourage initiative, innovation and creativity are more effective than those cultures based on control.
  • He adopted a command and control management structure coupled with a patriarchal management style to operate his business. I don't think this was an intentional decision but like many new and less experienced entrepreneurs, organizational culture isn't usually a factor considered by the entrepreneur when determining how to build a successful enterprise. Instead, organizational cultures are often a byproduct of necessity driven by the demands of the business coupled with the leader's personal value system.
  • It is commonplace for leaders to choose management structures and styles that align with their own value systems. Like my father, many leaders possess a value system where the person at the top makes all the decisions and everyone else has to simply conform or risk losing their job.
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  • In these cultures, leaders are fearful of losing their livelihood and use the same fear to lead their employees. So, it is not surprising that so many of us have experienced unjust and inequitable working conditions in command and control cultures where leaders use fear and aggression as the means to drive employee productivity.
  • Eventually, the very thing she was trying to protect, her livelihood, was lost. Would she have saved her own job had she opted for a different organizational structure or a nicer management style?
  • Though, historically, the command and control management structure and its many iterations of management styles has been successfully used by many companies, there is evidence that organizational cultures based on value systems that reward initiative, creativity and innovation result in greater employee productivity, loyalty and engagement than cultures based on control. In other words, organization's that adopt command and control management structures, even when coupled with friendlier management styles, are likely to find that employee productivity, engagement and loyalty are not as high as those organizational cultures that encourage initiative, creativity and innovation.
Javier E

How Teenagers Handle the Web's Instant Fame - NYTimes.com - 0 views

  • “What happens to kids when they start organizing their lives around the logic of the brand?”
  • “Social media is centered around the discourse of becoming a star,” she said. “We are witnessing young people build a career of life-casting before they are even done with high school.”
  • A new study conducted at U.C.L.A. by the Children’s Digital Media Center@LA underscores the increasing cultural importance of fame among young people. The study examined the values conveyed in popular pre-teenage television shows in the four decades from 1967 through 2007. The study found fame to be the No. 1 value communicated by shows in 2007. In each of the previous years — 1997, 1987, 1977 and 1967 — it ranked near the bottom of a list of 16 values. Community feeling, or being part of a group, ranked No. 1 or 2 in those years.
Javier E

Raising a Moral Child - NYTimes.com - 1 views

  • Surveys reveal that in the United States, parents from European, Asian, Hispanic and African ethnic groups all place far greater importance on caring than achievement. These patterns hold around the world:
  • teaching children to care about others is no simple task. In an Israeli study of nearly 600 families, parents who valued kindness and compassion frequently failed to raise children who shared those values.
  • For the past decade, I’ve been studying the surprising success of people who frequently help others without any strings attached.
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  • Genetic twin studies suggest that anywhere from a quarter to more than half of our propensity to be giving and caring is inherited. That leaves a lot of room for nurture, and the evidence on how parents raise kind and compassionate c
  • By age 2, children experience some moral emotions — feelings triggered by right and wrong. To reinforce caring as the right behavior, research indicates, praise is more effective than rewards.
  • when faced with more opportunities to give and share, the children were much more generous after their character had been praised than after their actions had been. Praising their character helped them internalize it as part of their identities.
  • Cheating was cut in half when instead of, “Please don’t cheat,” participants were told, “Please don’t be a cheater.” When our actions become a reflection of our character, we lean more heavily toward the moral and generous choices. Over time it can become part of us.
  • Tying generosity to character appears to matter most around age 8, when children may be starting to crystallize notions of identity.
  • When children cause harm, they typically feel one of two moral emotions: shame or guilt. Despite the common belief that these emotions are interchangeable, research led by the psychologist June Price Tangney reveals that they have very different causes and consequences.
  • Shame is a negative judgment about the core self, which is devastating: Shame makes children feel small and worthless, and they respond either by lashing out at the target or escaping the situation
  • Shame is the feeling that I am a bad person, whereas guilt is the feeling that I have done a bad thing
  • In contrast, guilt is a negative judgment about an action, which can be repaired by good behavior. When children feel guilt, they tend to experience remorse and regret, empathize with the person they have harmed, and aim to make it right.
  • If we want our children to care about others, we need to teach them to feel guilt rather than shame when they misbehave.
  • shame emerges when parents express anger, withdraw their love, or try to assert their power through threats of punishment
  • The most effective response to bad behavior is to express disappointment.
  • parents raise caring children by expressing disappointment and explaining why the behavior was wrong, how it affected others, and how they can rectify the situation. This enables children to develop standards for judging their actions, feelings of empathy and responsibility for others, and a sense of moral identity, which are conducive to becoming a helpful person.
  • As parents, we want to be proactive in communicating our values to our children. Yet many of us do this the wrong way.
  • When the adult acted generously, students gave the same amount whether generosity was preached or not — they donated 85 percent more than the norm in both cases. When the adult preached selfishness, even after the adult acted generously, the students still gave 49 percent more than the norm. Children learn generosity not by listening to what their role models say, but by observing what they do.
  • in the long run, preaching is less effective than giving while saying nothing at all.
  • As the psychologist Karl Weick is fond of asking, “How can I know who I am until I see what I do? How can I know what I value until I see where I walk?”
Javier E

Faith vs. Facts - NYTimes.com - 0 views

  • a broad group of scholars is beginning to demonstrate that religious belief and factual belief are indeed different kinds of mental creatures.
  • People process evidence differently when they think with a factual mind-set rather than with a religious mind-set
  • Even what they count as evidence is different
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  • And they are motivated differently, based on what they conclude.
  • On what grounds do scholars make such claims?
  • the very language people use changes when they talk about religious beings, and the changes mean that they think about their realness differently.
  • to say, “I believe that Jesus Christ is alive” signals that you know that other people might not think so. It also asserts reverence and piety
  • We seem to regard religious beliefs and factual beliefs with what the philosopher Neil Van Leeuwen calls different “cognitive attitudes.”
  • when people consider the truth of a religious belief, what the belief does for their lives matters more than, well, the facts.
  • We evaluate religious beliefs more with our sense of destiny, purpose and the way we think the world should be
  • religious and factual beliefs play different roles in interpreting the same events. Religious beliefs explain why, rather than how
  • people’s reliance on supernatural explanations increases as they age.
  • It’s the young kids who seem skeptical when researchers ask them about gods and ancestors, and the adults who seem clear and firm. It seems that supernatural ideas do things for adults they do not yet do for children.
  • people don’t use rational, instrumental reasoning when they deal with religious beliefs
  • sacred values are immune to the normal cost-benefit trade-offs that govern other dimensions of our lives.
  • The danger point seems to be when people feel themselves to be completely fused with a group defined by its sacred value.
  • One of the interesting things about sacred values, however, is that they are both general (“I am a true Christian”) and particular (“I believe that abortion is murder”)
  • It is possible that this is the key to effective negotiation, because the ambiguity allows the sacred value to be reframed without losing its essential truth
  • these new ideas about religious belief should shape the way people negotiate about ownership of the land, just as they should shape the way we think about climate change deniers and vaccine avoiders. People aren’t dumb in not recognizing the facts. They are using a reasoning process that responds to moral arguments more than scientific ones, and we should understand that when we engage.
silveiragu

College Scorecard Sandbags Equity in Higher Education | Patricia McGuire - 0 views

  • the "haves" in higher education have quite a lot; the "have nots" struggle mightily. And this economic chasm is seriously influenced by gender, race and social class -- issues on which the College Scorecard is silent, but which affect just about every factoid presented
  • The reality is that even smart wonks educated at some of the best of the "haves" can be blind to social reality; their monument to algorithmic gymnastics in the College Scorecard obscures some of the most important and painful facts about college life and American society today.
  • The administration presents the collegiate earnings data as if it were value-neutral, not only with no reference to the mission of institutions that may have different values from those the administration apparently exalts, but even more devastatingly, with no reference to the pernicious effects of gender and race discrimination on career opportunities and earnings.
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  • I am not a wonk, but I did prepare this chart based on data in the College Scorecard and the federal data system IPEDS
  • The value-neutral approach to the collegiate earnings data ignores the facts of life about women and families.
  • 74% of all undergraduates have at least one "non-traditional" characteristic, and more than 55% have two or more non-traditional characteristics such as having children, being a caregiver, delaying college enrollment, attending part-time, working full-time.
  • But the College Scorecard completely ignores the increasingly non-traditional nature of the nation's undergraduate student body today, and instead, presents data as if most college students are privileged children whiling away four years in some grove of academic luxury
  • The Obama administration claims that the new College Scorecard will provide more "transparent" data to students and families trying to decide which college to attend. Unfortunately, by presenting some data in value-neutral or misleading ways, and ignoring other truly important questions in the college choice process
  • the administration presents a data mashup with limited utility for consumers but large potential for misrepresentation of social realities.
Javier E

Opinion | Michael Hayden: The End of Intelligence - The New York Times - 0 views

  • To adopt post-truth thinking is to depart from Enlightenment ideas, dominant in the West since the 17th century, that value experience and expertise, the centrality of fact, humility in the face of complexity, the need for study and a respect for ideas.
  • the Trump campaign normalized lying to an unprecedented degree.
  • When pressed on specifics, the president has routinely denigrated those who questioned him, whether the “fake” media, “so called” judges, Washington insiders or the “deep state.” He has also condemned Obama-era intelligence officials as “political hacks.”
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  • you could sometimes convince a liar that he was wrong. What do you do with someone who does not distinguish between truth and untruth?
  • How the erosion of Enlightenment values threatens good intelligence was obvious in the Trump administration’s ill-conceived and poorly carried out executive order that looked to the world like a Muslim ban.
  • They didn’t seem very interested in facts, either. Or at least not in my facts. Political partisanship in America has become what David Brooks calls “totalistic.” Partisan identity, as he writes, fills “the void left when their other attachments wither away — religious, ethnic, communal and familial.” Beliefs are now so tied to these identities that data is not particularly useful to argue a point.
  • Intelligence work — at least as practiced in the Western liberal tradition — reflects these threatened Enlightenment values: gathering, evaluating and analyzing information, and then disseminating conclusions for use, study or refutation.
  • we have never served a president for whom ground truth really doesn’t matter.
  • The president by all accounts is not a patient man. According to The Washington Post, one Trump confidant called him “the two-minute man” with “patience for a half page.”
  • Over time it has become clear to me that security decisions in the Trump administration follow a certain pattern. Discussion seems to start with a presidential statement or tweet. Then follows a large-scale effort to inform the president, to impress upon him the complexity of an issue, to review the relevant history, to surface more factors bearing on the problem, to raise second- and third-order consequences and to explore subsequent moves.
  • He insists on five-page or shorter intelligence briefs, rather than the 60 pages we typically gave previous presidents. There is something inherently disturbing in that. There are some problems that cannot be simplified.
  • Intelligence becomes a feeble academic exercise if it is not relevant and useful
  • History — and the next president — will judge American intelligence, and if it is found to have been too accommodating to this or any other president, it will be disastrous for the community.
  • These are truly uncharted waters for the country. We have in the past argued over the values to be applied to objective reality, or occasionally over what constituted objective reality, but never the existence or relevance of objective reality itself.
  • In this post-truth world, intelligence agencies are in the bunker with some unlikely mates: journalism, academia, the courts, law enforcement and science — all of which, like intelligence gathering, are evidence-based.
  • Intelligence shares a broader duty with these other truth-tellers to preserve the commitment and ability of our society to base important decisions on our best judgment of what constitutes objective reality.
  • The historian Timothy Snyder stresses the importance of reality and truth in his cautionary pamphlet, “On Tyranny.” “To abandon facts,” he writes, “is to abandon freedom. If nothing is true, then no one can criticize power because there is no basis upon which to do so.” He then chillingly observes, “Post-truth is pre-fascism.”
  • we traditionally rely on their truth-telling to protect us from our enemies. Now we need it to save us from ourselves.
Javier E

What Is Wrong with the West's Economies? by Edmund S. Phelps | The New York Review of B... - 1 views

  • What is wrong with the economies of the West—and with economics?
  • With little or no effective policy initiative giving a lift to the less advantaged, the jarring market forces of the past four decades—mainly the slowdowns in productivity that have spread over the West and, of course, globalization, which has moved much low-wage manufacturing to Asia—have proceeded, unopposed, to drag down both employment and wage rates at the low end. The setback has cost the less advantaged not only a loss of income but also a loss of what economists call inclusion—access to jobs offering work and pay that provide self-respect.
  • The classical idea of political economy has been to let wage rates sink to whatever level the market takes them, and then provide everyone with the “safety net” of a “negative income tax,” unemployment insurance, and free food, shelter, clothing, and medical care
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  • This failing in the West’s economies is also a failing of economics
  • many people have long felt the desire to do something with their lives besides consuming goods and having leisure. They desire to participate in a community in which they can interact and develop.
  • Our prevailing political economy is blind to the very concept of inclusion; it does not map out any remedy for the deficiency
  • injustice of another sort. Workers in decent jobs view the economy as unjust if they or their children have virtually no chance of climbing to a higher rung in the socioeconomic ladder
  • “Money is like blood. You need it to live but it isn’t the point of life.”4
  • justice is not everything that people need from their economy. They need an economy that is good as well as just. And for some decades, the Western economies have fallen short of any conception of a “good economy”—an economy offering a “good life,” or a life of “richness,” as some humanists call it
  • The good life as it is popularly conceived typically involves acquiring mastery in one’s work, thus gaining for oneself better terms—or means to rewards, whether material, like wealth, or nonmaterial—an experience we may call “prospering.”
  • As humanists and philosophers have conceived it, the good life involves using one’s imagination, exercising one’s creativity, taking fascinating journeys into the unknown, and acting on the world—an experience I call “flourishing.”
  • prospering and flourishing became prevalent in the nineteenth century when, in Europe and America, economies emerged with the dynamism to generate their own innovation.
  • What is the mechanism of the slowdown in productivity
  • prospering
  • In nineteenth-century Britain and America, and later Germany and France, a culture of exploration, experimentation, and ultimately innovation grew out of the individualism of the Renaissance, the vitalism of the Baroque era, and the expressionism of the Romantic period.
  • What made innovating so powerful in these economies was that it was not limited to elites. It permeated society from the less advantaged parts of the population on up.
  • High-enough wages, low-enough unemployment, and wide-enough access to engaging work are necessary for a “good-enough” economy—though far from sufficient. The material possibilities of the economy must be adequate for the nonmaterial possibilities to be widespread—the satisfactions of prospering and of flourishing through adventurous, creative, and even imaginative work.
  • today’s standard economics. This economics, despite its sophistication in some respects, makes no room for economies in which people are imagining new products and using their creativity to build them. What is most fundamentally “wrong with economics” is that it takes such an economy to be the norm—to be “as good as it gets.”
  • ince around 1970, or earlier in some cases, most of the continental Western European economies have come to resemble more completely the mechanical model of standard economics. Most companies are highly efficient. Households, apart from the very low-paid or unemployed, have gone on saving
  • In most of Western Europe, economic dynamism is now at lows not seen, I would judge, since the advent of dynamism in the nineteenth century. Imagining and creating new products has almost disappeared from the continent
  • The bleak levels of both unemployment and job satisfaction in Europe are testimony to its dreary economies.
  • a recent survey of household attitudes found that, in “happiness,” the median scores in Spain (54), France (51), Italy (48), and Greece (37) are all below those in the upper half of the nations labeled “emerging”—Mexico (79), Venezuela (74), Brazil (73), Argentina (66), Vietnam (64), Colombia (64), China (59), Indonesia (58), Chile (58), and Malaysia (56)
  • The US economy is not much better. Two economists, Stanley Fischer and Assar Lindbeck, wrote of a “Great Productivity Slowdown,” which they saw as beginning in the late 1960s.11 The slowdown in the growth of capital and labor combined—what is called “total factor productivity”—is star
  • though the injustices in the West’s economies are egregious, they ought not to be seen as a major cause of the productivity slowdowns and globalization. (For one thing, a slowdown of productivity started in the US in the mid-1960s and the sharp loss of manufacturing jobs to poorer countries occurred much later—from the late 1970s to the early 1990s.) Deeper causes must be at work.
  • The plausible explanation of the syndrome in America—the productivity slowdown and the decline of job satisfaction, among other things—is a critical loss of indigenous innovation in the established industries like traditional manufacturing and services that was not nearly offset by the innovation that flowered in a few new industries
  • hat then caused this narrowing of innovation? No single explanation is persuasive. Yet two classes of explanations have the ring of truth. One points to suppression of innovation by vested interests
  • some professions, such as those in education and medicine, have instituted regulation and licensing to curb experimentation and change, thus dampening innovation
  • established corporations—their owners and stakeholders—and entire industries, using their lobbyists, have obtained regulations and patents that make it harder for new firms to gain entry into the market and to compete with incumbents.
  • The second explanation points to a new repression of potential innovators by families and schools. As the corporatist values of control, solidarity, and protection are invoked to prohibit innovation, traditional values of conservatism and materialism are often invoked to inhibit a young person from undertaking an innovation.
  • ow might Western nations gain—or regain—widespread prospering and flourishing? Taking concrete actions will not help much without fresh thinking: people must first grasp that standard economics is not a guide to flourishing—it is a tool only for efficiency.
  • Widespread flourishing in a nation requires an economy energized by its own homegrown innovation from the grassroots on up. For such innovation a nation must possess the dynamism to imagine and create the new—economic freedoms are not sufficient. And dynamism needs to be nourished with strong human values.
  • a reform of education stands out. The problem here is not a perceived mismatch between skills taught and skills in demand
  • The problem is that young people are not taught to see the economy as a place where participants may imagine new things, where entrepreneurs may want to build them and investors may venture to back some of them. It is essential to educate young people to this image of the economy.
  • It will also be essential that high schools and colleges expose students to the human values expressed in the masterpieces of Western literature, so that young people will want to seek economies offering imaginative and creative careers. Education systems must put students in touch with the humanities in order to fuel the human desire to conceive the new and perchance to achieve innovations
  • This reorientation of general education will have to be supported by a similar reorientation of economic education.
caelengrubb

Free Market - Econlib - 0 views

  • Free market” is a summary term for an array of exchanges that take place in society.
  • Each exchange is undertaken as a voluntary agreement between two people or between groups of people represented by agents. These two individuals (or agents) exchange two economic goods, either tangible commodities or nontangible services
  • Both parties undertake the exchange because each expects to gain from it. Also, each will repeat the exchange next time (or refuse to) because his expectation has proved correct (or incorrect) in the recent past.
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  • Trade, or exchange, is engaged in precisely because both parties benefit; if they did not expect to gain, they would not agree to the exchange.
  • This simple reasoning refutes the argument against free trade typical of the “mercantilist” period of sixteenth- to eighteenth-century Europe and classically expounded by the famed sixteenth-century French essayist Montaigne.
  • The mercantilists argued that in any trade, one party can benefit only at the expense of the other—that in every transaction there is a winner and a loser, an “exploiter” and an “exploited.”
  • We can immediately see the fallacy in this still-popular viewpoint: the willingness and even eagerness to trade means that both parties benefit. In modern game-theory jargon, trade is a win-win situation, a “positive-sum” rather than a “zero-sum” or “negative-sum” game.
  • Each one values the two goods or services differently, and these differences set the scene for an exchange.
  • Two factors determine the terms of any agreement: how much each participant values each good in question, and each participant’s bargaining skills.
  • the market in relation to how favorably buyers evaluate these goods—in shorthand, by the interaction of their supply with the demand for them.
  • On the other hand, given the buyers’ evaluation, or demand, for a good, if the supply increases, each unit of supply—each baseball card or loaf of bread—will fall in value, and therefore the price of the good will fall. The reverse occurs if the supply of the good decreases.
  • The market, then, is not simply an array; it is a highly complex, interacting latticework of exchanges.
  • Production begins with natural resources, and then various forms of machines and capital goods, until finally, goods are sold to the consumer.
  • At each stage of production from natural resource to consumer good, money is voluntarily exchanged for capital goods, labor services, and land resources. At each step of the way, terms of exchanges, or prices, are determined by the voluntary interactions of suppliers and demanders. This market is “free” because choices, at each step, are made freely and voluntarily.
  • The free market and the free price system make goods from around the world available to consumers.
  • Saving and investment can then develop capital goods and increase the productivity and wages of workers, thereby increasing their standard of living.
  • The free competitive market also rewards and stimulates technological innovation that allows the innovator to get a head start in satisfying consumer wants in new and creative ways.
  • Government, in every society, is the only lawful system of coercion. Taxation is a coerced exchange, and the heavier the burden of taxation on production, the more likely it is that economic growth will falter and decline
  • The ultimate in government coercion is socialism.
  • Under socialist central planning the socialist planning board lacks a price system for land or capital goods.
  • Market socialism is, in fact, a contradiction in terms.
  • The fashionable discussion of market socialism often overlooks one crucial aspect of the market: When two goods are exchanged, what is really exchanged is the property titles in those goods.
  • This means that the key to the existence and flourishing of the free market is a society in which the rights and titles of private property are respected, defended, and kept secure.
  • The key to socialism, on the other hand, is government ownership of the means of production, land, and capital goods.
  • Under socialism, therefore, there can be no market in land or capital goods worthy of the name.
  • ome critics of the free market argue that property rights are in conflict with “human” rights. But the critics fail to realize that in a free-market system, every person has a property right over his own person and his own labor and can make free contracts for those services.
  • A common charge against the free-market society is that it institutes “the law of the jungle,” of “dog eat dog,” that it spurns human cooperation for competition and exalts material success as opposed to spiritual values, philosophy, or leisure activities.
  • It is the coercive countries with little or no market activity—the notable examples in the last half of the twentieth century were the communist countries—where the grind of daily existence not only impoverishes people materially but also deadens their spirit.
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