Morning everyone. Another installment of ‘What’s for Breakfast?’ I am going to be off for my internship but I thought it would be good to put up a few links for the day. Check it out!
1. Paying people more – Justin Fox [HBR]
Are wages set by the inexorable laws of market demand and supply? I remember continuously trying to model this and also learning of the problems that accrue from minimum wages (classical style), which after a while can almost seem like indoctrination. This is because you learn the same argument in nearly every class because it is considered economic law.
However, pay is not just set by the market as WalMart and McDonalds are learning. It is also set by social custom and other factors. I doubt Henry Ford was making a mistake by increasing the wages of its workers so that they could buy his goods and also be loyal to his cause.
2. Slowing Chinese economy and dubious statistics – Tom Orlik [WSJ]
China recently announced its Q2 GDP growth rate and it was right at the median. Interestingly, the Chinese Minister of Finance did seem to predict a lower number just a few days ago before 7.5% was announced… Was there a little bit of censorship?
Additionally, there are other factors to look at other than GDP. You could look at proxies such as ‘railway freight delivered’, ‘businesses started’ or other indexes that may convey certain information about the economy.
In the News:
1. In case you missed the earlier link… – G. Chang [Forbes]
If you missed the earlier link then check out this report on Forbes. Nothing too long but the author is very skeptical about the GDP data that has come out of China. There are a few reasons for this and some include blatant censorship. So, nothing is really proven but data tampering is supposed to be common knowledge and investigations are taking place in China to curb this problem.
The word ‘snake’ (among other words) has been used to describe politicians. However, it does take some skill and fast thinking to get out of difficult situations. Although, them getting out of difficult situations mean that they are not facing up to the tough problems that society faces.
In political debates we look for the best speaker; someone who can articulate their thoughts in the best manner possible and conjure up emotions within us to make us believe that the prescribed solution is the right one. Well, check out this link.
2. Why you should continue to have breakfast… And then read this blog – Mike Stobbe [Yahoo! News]
No, I am not forcing you to read this blog but I care for your health. So, eat a meal in the morning because researchers are concerned that people who miss breakfast eat much more later in the day and in a shorter period of time. All these things add up in the end and there is good research to back it up.
However, is it good to have a massive English breakfast in the morning (with all the works)? Not all the time…
Also, while you eat breakfast you can check out this cool blog ‘What’s for Breakfast’ for fun links and facts. Win-win if you ask me.
Need some Inspiration:
1. Moving an immovable object – CNN
You may think that there is a certain lack of humanity in a big city. People only worrying about themselves and getting on with their lives. The ‘hustle and bustle’ can sometimes be a little depressing…
However, this video should inspire you to get on with you day.
2. The Power of Myth – Deepak Chopra [Linkedin]
This is a fantastic article that shows the importance of myth in spurring your forward. This is basically a story of rebels and how they were not chained by society. These people went out of their comfort zone and changed the world at a time when no one wanted to do so.
Well, here is breakfast links and fun facts. I hope you have a fantastic day ladies and gentlemen!