Category: Life

US Education: How We Got Where We Are Today

“A Nation at Risk,” commissioned by the Reagan administration in 1981, was a scathing appraisal of public education. Its authors – a federal commission of leaders from government, business, and education – spent two years examining American schools, and they were appalled at what they found. Standardized test and SAT scores were falling. The United States was dropping behind competitors such as Japan. The public education system was so bad that not only were US students unprepared to join an increasingly high-tech workforce, 23 million Americans were functionally illiterate. Worst of all, the report concluded, Americans were complacent as their schools crumbled, threatening the very “fabric of society.”

One of the most famous lines in the report said: “If an unfriendly foreign power had attempted to impose on America the mediocre educational performance that exists today, we might well have viewed it as an act of war.”

→ The Christian Science Monitor

The Economics of Pricelessness

As Exhibit A, I give you Apple during the reign of Steve Jobs at the top of the Apple reputation economy. That Apple at the time was primarily a reputation economy, and only secondarily a computing hardware market, is clear from the fact that there is a clear hierarchy in its market, with users at the bottom, genius-bar reps one level up, and an invisible secret church in the background with Jobs at the top. Now that he’s gone, the fate of the company depends on the ability of Tim Cook to play St. Peter well.

→ Ribbon Farm

The True Cost of a Burger

Last year, burger chains grossed about $70 billion in sales. So it’s not a stretch to say that the external costs of burgers may be as high as, or even outweigh, the “benefits” (if indeed there are any other than profits). If those externalities were borne by their producers rather than by consumers and society at large, the industry would be a highly unprofitable, even silly one. It would either cease to exist or be forced to raise its prices significantly.

→ The New York Times

No Money, No Time

We tend to assume that pressure makes us more efficient. I work fastest when I’m on deadline. I stretch my grocery budget the most when my funds are running low. But in reality, it’s not that you’re working better when you’re stressed. It’s that the opposite situation, overabundance, often makes us less efficient.

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The poor are under a deadline that never lifts, pressure that can’t be relieved. If I am poor, I work or I churn until decisions like buying lottery tickets begin to seem like attractive alternatives. I lack the time to calculate the odds and think of alternative uses for my money.

→ The New York Times