Tag: economics

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Latest read: What the Dog Saw

I have been a fan of Malcolm Gladwell’s writing.  Joining The Tipping Point: How Little Things Can Make a Big Difference, Blink: The Power of Thinking Without Thinking and Outliers: The Story of Success comes his latest work What the Dog Saw: And Other Adventures which is a collection of his writings with the New Yorker.  I have enjoyed all of his books and this new release is no exception.

And to prove life again is all about timing the NYTimes has it’s book review hitting tomorrow’s Sunday paper.  The book’s title is from his writing about Cesar Millan, the noted animal trainer with the hit cable show The Dog Whisperer with Cesar Millan.

Gladwell breaks the book into three parts: Minor Geniuses, Theories – or ways of organizing experience and Predictions we make about people.  From these points Gladwell shares those articles that have stuck with him long after the New Yorker articles were published.

I was pretty amused in reading What the Dog Saw right after finishing SuperFreakonomics: Global Cooling, Patriotic Prostitutes, and Why Suicide Bombers Should Buy Life Insurance

To say the data and stories by Gladwell and Dubner & Levitt may overlap, it was nevertheless a lesson in looking beyond the regular story to take the opportunity to learn hidden lessons.

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Latest read: Superfreakonomics

Steven Levitt and Stephen Dubner have released SuperFreakonomics: Global Cooling, Patriotic Prostitutes, and Why Suicide Bombers Should Buy Life Insurance a long awaited follow up to their hit Freakonomics: A Rogue Economist Explores the Hidden Side of Everything.
If you enjoyed Freakonomics (my review here) or even Sudir Venkatesh‘s Gang Leader for a Day: A Rogue Sociologist Takes to the Streets, the runaway hit from chapter three, then you will enjoy SuperFreakonomics.

I recall learning the book would be released in late 2009 but as soon as I saw it on the shelf I picked up a copy and began reading that night.  They have done another great job exploring new datasets.  Most readers will enjoy reading the data underlying a murder in New York of a woman in-front of 38 witnesses. Nobody called the police for help.  They explore what this says about society.  The book is more of the same: exploring the hidden side of everything.

From comparing street prostitution to a department store Santa to why suicide bombers should buy life insurance, Levitt and Dubner succeed in sharing unique datasets and telling a compelling story.  How did television empower women in India?  On the surface it may sound strange until you consider how they tell the story.

They provide inspiration as well. Their segment ‘The garden hose to the sky’ about global warming sounds funny on the surface until they share the idea is from Microsoft’s former technology director.  He is the principal owner in a scientific research firm that is developing tools to cool the earth.  It gets more interesting when you learn Bill Gates is an investor in the company.

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Latest read: China Shakes the world

I found myself fascinated by China Shakes the World: A Titan’s Rise and Troubled Future – and the Challenge for America by James Kynge. Yet most of the time I was also infuriated over how America has fallen asleep regarding China’s threat to our economy.  Kynge has written an excellent book that should be read by every school teacher, mayor and businessman.

It was my goal to finish this book before the end of the summer Olympic games.  But I needed time to finish Randy Pauch‘s one of a king book The Last Lecture (review is here) so this week was plenty of time to complete this book.

Infuriating?  Yes Kynge shares a startling story about how the Chinese almost secured the assets to the American company that produces stealth coating to the B-2 bomber.  Yes THAT Stealth Bomber.  Now are you interested in what Hynge has to say?  It was Financial Time’s Book of the Year.

So how does America’s secret stealth technology (a skin made with highly specialized thermoplastics and composites which are radar-absorbent) come within arms reach of the communist Chinese?  Did they try to steal it?   No, they almost purchased the technology outright.

What about pirating and corporate espionage? China plays this game very well too.  And based upon the communist’s approach to banking, well lets just say their idea of business as usual includes very loose, corrupt accounting…kinda reminds me of Enron.

If you are frustrated with the RIAA’s music lawsuits against college kids encourage the RIAA to go to source in this matter: China.  The Chinese have truly become the world’s leading Pirate Nation. A word of note to the music and movie industry: Do you really believe your lawsuits against college kids is making a dent in your attempt to stop pirating?  Go to China.

The Chinese impact
It’s not on the gold medal stand in women’s gymnastics.  As the saying goes … if your not cheating, your not winning.  Regardless, it was the American gymnast Sacromone who fell of the beam and floor exercise that cost the team gold medal.  I know the Olympics bring out national pride. We all feel good about cheering for our athletes during the 16 days of competition.  But what about the other 349 days of 2008?

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Latest read: Making Globalization Work

If you were first introduced to globalization via Tom Friedman‘s The World Is Flat, you may be interested to learn more about this wave of economics. Many point to the recent book by Joseph Stiglitz called Making Globalization Work. This is a follow-up to his 2003 book Globalization and Its Discontents.

Stiglitz is professor of economics at Columbia. He served as Chairman of President Clinton’s Council of Economic Advisers from 1995-97. He followed that appointment by serving as Chief Economist and Senior VP of the World Bank from 1997-2000. Stiglitz was one of three to receive the 2001 Noble Prize in economics.

He accurately addresses areas of economic globalization that continue to fail across the globe in shaping market opportunities of underdeveloped nations. Needless to say the real golden rule applies: He who has the Gold makes the rules.

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Latest read: Freakonomics

Well I’m not sure what took so long to read Steven Levitt‘s Freakonomics: A Rogue Economist Explores the Hidden Side of Everything. It was enjoyable, fun and interesting to read the hidden side of everything.
So I finally pushed it to the front of my pile of books after crossing an article on the NYTimes and found the book is now part of their blogs. When was the last time the NYTimes took over a book’s blog? Yea, its that good!

I was very impressed with Chapter 3 “Why do drug dealers still live with their Mothers?” since I was working in Chicago for Apple and know the area where his research occurred: the Robert Taylor Homes.

I remember getting advice from fellow engineers at the downtown loop office to literally drive through red lights, stop signs and anything else if I ever found myself anywhere around Cabrini-Green or the Robert Taylor Homes.

Sure enough I recall driving at night in the loop lost and finding myself looking at a sign similar to the one in this photo…drove without stopping until I was north east of the area. Nice welcome to the city…

So I was living in Chicago and still remember the violent deaths reported at that time during the gang wars. Wow Levit does not display the details of the violent incidents that occurred during this crack war.

And the research actually proves gangs organized by a business model very close to McDonalds. What is most amazing was his ability to access the financial records of the gangs. While gang foot soldiers were making $3.00/hour the research showed that if you survived long enough to be on the “board of directors” of a gang you could earn $400,000/year.

But with a 25% chance of being killed working as a foot solider, its no wonder drug dealers still live with their mothers. And that is just one chapter of his amazing book. If you have passed on this book you should really pick it up and give it a read. Its easy and will amaze you.

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