Understanding 57 “The human mind tends to look for clear linear relationships, we like solutions that are close to the problem in time and space and make sense when we think about it quickly, unfortunately, those simple solutions are usually wrong and come from acting on a compl...
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… the same as Ben-Porath’s from birth to independence. All consumption and all work are invested, for modeling purposes, until schooling ends at full-time job entry. I model this transition at age 20. Pay, realized work, human depreciation and pure consumption all begin at that po...
might sound like a risk, human understanding comes with its own limits; engineering design is littered with what appeared to be good insights that have had bad consequences. Declarative design rests on all the advances in AI, plus the improving fidelity of simulations to virtuall...
…slide fast, and see if it has learned how to hold the ramp to make a block slide fast. 5. Reasoning e Deduction, from uncertain premises observed in the world — Example task: If Ben more often picks up red balls than blue balls, and Ben is given a choice of a red block or blue...
17 savings account, and more likely to bet the farm on a bad investment. But the bias also protects and inspires us: it keeps us moving forward rather than to the nearest high-rise ledge. Without optimism, our ancestors might never have ventured far from their tribes and we migh...
…e entire world was pulled into the fire. “In the autumn of 1919, in which I write, we are at the dead season of our fortunes,” the economist John Maynard Keynes wrote after the Paris Peace Conference settled The Great War, dimly aware that an even deader season lay somewhere in t...
…ates Airlines’ successful model has not led only to achieving an internationally recognition but also has induced the launch of other Arab airlines that followed the same model. Emirates has encouraged many established Arab airlines to enhance their fleets and upgrade their servi...
…a transformation that enables doctors working in war-torn areas or regions afflicted with a disease outbreak, to treat hundreds of suffering patients as if they were treating inert cars on an assembly line. Good doctors allow their compassion and empathy to return as their patien...
reading “pay less prior claims on pay equals earned pay equals gross realized work equals realized work plus realized (recovered) human depreciation”. Prior claims means outflow (transfer out), from sources other than the direct receiver of revenue, which are recovered in it an...
…nsumption as personal consumption expenditure (PCE) plus government consumption expenditure (GCE) per the national accounts. GCE includes government outlays, at all levels of government, on education and welfare. These are easily recognized as consumption. It also includes cost...
…rs of high theory”, in the 1920s through 1950s, without the concepts of human capital or market-valued capital. It is founded on the inaccurate Y = C + I equation and the concomitant belief that output equals pay plus profit. It recognizes ex ante — ex post distinctions only crud...
…l pain when excluded by Caucasian players than when excluded by Black players. When others suffer and we have the opportunity to help them, we are more likely to help those of the same race, and feel good about it as evidenced by activation of brain areas involved in reward. Our...
…the most powerful nation in human history, backed by hypersonic missiles, always-on radars, and endless jet fuel that found itself unable to stop a group of half-educated and promiscuously backwards terrorists. You had to ask: What was wrong? And did the failure suggest something...
who has a master's degree in human resource development from Palm Beach
we had ceased to see the human effects of 20 years of