What’s for Breakfast?

Morning Newspaper at Breakfast

Economics:

1. Globalization… There is still much to understand – D. Rodrik

I was very much the student that was always under the impression that free trade and hyperglobalization is always the best thing for the economy. But, after you read Harvard’s Dani Rodik you understand that there are many things we should keep in mind before eradicating all trade barriers.

I don’t wish to bring in neo-mercantilism, but hyperglobalization is something we have to think about because there are many problems that can result from globalizing for its own sake.

My earlier post spoke about economist Becker’s criticism of Import Substitution Industrialization (ISI) and in this paper Rodrik defends it. He breaks down the causes to government failures to how they handle social conflicts.

Notable Quote: ‘For the main message that I take from the kind of evidence that I have presented here is that it is not whether you globalize that matters, it is how you globalize.’

2. [Video] Globalization and its benefits – Jagdish Bhagwati

Jagdish Bhagwati is a noted economist and a stalwart in the study of international trade and globalization. He is known for being a strong advocate of globalization. Check out his book.

But, while Rodrik and Bhagwati do have some big differences when it comes to globalization. If you have time read Bhagwati’s book ‘In Defense of Globalization‘ and Rodrik’s ‘The Globalization Paradox‘.

Interesting:

1. Children and their sense of fairness – Boston University

I have two younger brothers and I used to take care of them and babysit so my parents could get a well-deserved night out. Yup, children, at least I thought, were a little more selfish when it came to toys or anything they fancy. This study proves (as many studies do) that I am wrong or haven’t thought about it long enough. It could also be that I don’t have Phd in psychology… But still!

College of Arts and Science Professor Peter Blake does two experiments to find out children’s perceptions of fairness. The results were surprising and it seems that children do have a sense of what is fair. But, they only act upon it after the age of 7. Surprisingly, the results differ by culture as well.

Notable Quote: ‘Blake says the results of the two games indicate that children’s “self-interested bias diminishes over time” and may have something to do with “becoming a responsible individual in the culture,”’

2. Can Superman really hit you into space? – Wired

Many budding physicists may scoff at my inability to properly understand the equations used here, but I got it on the whole. AS level physics were a while back… But, this is a very interesting post and I assure you that you will be surprised by the results. It isn’t that such and such may or may not happen, but there are other factors to look at as well.

Trailer:

1. Diana – Youtube

Princess Diana was an icon. She had the support of the people and was adored by everyone. Sadly, the tragic accident took her away from us too soon.

I am looking forward to this movie and hoping for a good performance by Neomi Watts. I do remember seeing another movie of an icon that really was a disappointment and that was ‘The Iron Lady’. The buildup to the movie was great and the performance by Meryll Streep was outstanding. However, it was a disappointing movie to say the least.

I am very intrigued for this movie.

Anyways, I hope you enjoyed this. Take care everyone.

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