Why black graduates of the USC Marshall School of Business may start finding it hard to get international jobs

Back in January 2016 Victor Mair, professor of Chinese at the University of Pennsylvania, started an interesting discussion in the blog “Language Log” about a common Chinese word that sounds like a racial insult in English. Professor Mair wrote, As soon as I read “a phrase that sounds uncannily like the N-word” in the first paragraph, I knew exactly what my colleague’s friend was talking about.

Source: Why black graduates of the USC Marshall School of Business may start finding it hard to get international jobs

The World Is Doing Better Than Ever. Here’s Why You Never Hear About It.

“A huge amount of progress has taken place that a lot of people just don’t take into account, especially smart people who are attending to the real problems of the world,” says Ronald Bailey, Reason ‘s science correspondent and the coauthor, with Marian Tupy of HumanProgress.org , of Ten Global Trends Every Smart Person Should Know: And Many Others You Will Find Interesting .

Source: The World Is Doing Better Than Ever. Here’s Why You Never Hear About It.

Why Socialism Failed

The failure of socialism in countries around the world can be traced to one critical defect: it is a system that ignores incentives.

In a capitalist economy, incentives are of the utmost importance. Market prices, the profit-and-loss system of accounting, and private property rights provide an efficient, interrelated system of incentives to guide and direct economic behavior. Capitalism is based on the theory that incentives matter!

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The strength of capitalism can be attributed to an incentive structure based upon the three Ps: (1) prices determined by market forces, (2) a profit-and-loss system of accounting and (3) private property rights. The failure of socialism can be traced to its neglect of these three incentive-enhancing components.

FEE.org

The price system in a market economy guides economic activity so flawlessly that most people don’t appreciate its importance. Market prices transmit information about relative scarcity and then efficiently coordinate economic activity. The economic content of prices provides incentives that promote economic efficiency.

Socialism also collapsed because of its failure to operate under a competitive, profit-and-loss system of accounting. A profit system is an effective monitoring mechanism which continually evaluates the economic performance of every business enterprise. The firms that are the most efficient and most successful at serving the public interest are rewarded with profits. Firms that operate inefficiently and fail to serve the public interest are penalized with losses.

A third fatal defect of socialism is its blatant disregard for the role of private property rights in creating incentives that foster economic growth and development. The failure of socialism around the world is a “tragedy of commons” on a global scale.

ROOM TEMPERATURE STARS: Citizen Scientists discover bizarre new brown dwarfs near our Sun. “Althou…

ROOM TEMPERATURE STARS: Citizen Scientists discover bizarre new brown dwarfs near our Sun. “Although the discovery of brown dwarfs is not a new phenomenon, the ones discovered in the recent study have a weird property — they are colder than the boiling point of water.

Source: ROOM TEMPERATURE STARS: Citizen Scientists discover bizarre new brown dwarfs near our Sun. “Althou…

Theory vs History

Yesterday, Mike Huemer and I had a debate with two anarcho-communists on the topic of left libertarianism vs right libertarianism. It can be viewed on YouTube . One thing that struck me as interesting was a difference in how we supported our positions.

Source: Theory vs History

This is Not Fine

Why is California burning? The experts all know the answer–CA was made to burn and if you don’t do controlled burns, CA will burn uncontrolled. Here’s ProPublica in an article titled They Know How to Prevent Megafires. Why Won’t Anybody Listen?

Source: This is Not Fine