Megan McArdle presents the unintended consequences of measurement and metrics. Doctors turn away very sick patients because chances of success are slim. Recovery statistics would look bad. How much we excel in confusing means and ends?!
Nobel Laureate Angus Deaton’s comprehensive piece on how inequality works is well written. Even though it reminded me of the piece by Jonathan Rothwell in New York Times on November 17, Angus Deaton’s piece is well written and did not claim exclusivity for his arguments.
Did not know that Professor Deaton had questioned India’s economic growth statistics after the revision. This is from October 2015. He has also had some rather useful observations on India’s official poverty statistics.
The Dutch teach their elderly how to avoid falling and how to fall if they have to! There is a feeling among some in India that Western societies lack the human touch.
A lovely article in Wall Street Journal about Amazon, the company. This line caught my attention:
Amazon famously adheres to the rule that any new business should be built by a team small enough to be fed with two pizzas. [Link]
The year everything went up – some eighteen charts from Wall Street Journal of all assets that went up in 2017. But, that said, do check out the image in this tweet by Jason Zweig. He writes about four things sure to happen in financial markets in 2018.
U.S suspends two billion dollars in security assistance to Pakistan. This is for real. Someone looks at the India angle to this developing story. Andrew Small’s nine tweets on this development are thoughtful. Link to the 9th tweet.