Excerpt: "For the last several years, [Gujarat's Chief Minister] Modi has been successful in projecting his
"vibrant Gujarat" as a role model of economic growth and himself as
''Vikas Purush". Though one must give due credit to Modi for his
effective skills in making projections, one must also critically analyse
this "growth story of Gujarat" based on facts and figures"
Excerpt: " In 1968, University of Chicago economist Gary Becker solved the problem that had plagued law enforcement officers, politicians, and city planners since, well, the dawn of civilization: How do we stop criminals from committing crimes, and is stopping crime even desirable? Becker’s paper, “Crim"
Just saw this great chart from McKinsey (click to enlarge):
I didn't know Singapore's median age was into the 40s! Nor that America's median age was well above China's. It's not obvious to me from casual observation. As a friend once asked me, "Why do people say that Singapore has an aging population? I see plenty of children on the street with their parents." In comparison, one rarely sees children in Japan. But the numbers tell a different story from the perception.
One other interesting point to note is the way the authors have classified the countries. Most countries are classified by their levels of education and age of population. India and China, though, get their own independent categories! That speaks for itself. Another way to do it would have been to separate out urban India and urban China, and lump them in with other parts of the world with similar characteristics. Urban China and India are older and wealthier than the rest of each country, so this could substantially alter the picture.
This chart is from a longer McKinsey report called The World at Work, which is available for free download.
Another great source of this sort of data, visualised just as nicely as this, is the absolutely spectacular website Gapminder. If you're reading this blog, you're probably aware of this website already.
For some reason, my little ifttt hack didn't work and the articles I bookmarked onto my radar over the past several days didn't actually make it to the blog. No matter. I emailed them. I'm sure they'll reply with a fix.
Meanwhile, here are some of the things I posted to my radar since my last blog post. If you get my email newsletter, you've already seen most of these. I'll disable the double-posts once the ifttt problem is fixed.
This is one of those few times I've actually sat down and looked at the kinds of stuff I post on the radar. Quite a hodge-podge. Plus there's stuff I read but don't post. Wonder how much my radar overlaps with other people's.
Really? So says an op-ed in the NYT. The writer presents some strong arguments to bolster his case, including:
The fallacy of the “lost decades” story is apparent to American visitors the moment they set foot in the country. Typically starting their journeys at such potent symbols of American infrastructural decay as Kennedy or Dulles airports, they land at Japanese airports that have been extensively expanded and modernized in recent years.
America’s growth in recent decades has been overstated by as much as 2 percentage points a year. ... This factor alone may put the United States behind Japan in per-capita performance.
The Japanese are consistently among the world’s earliest adopters [of expensive, new high-tech items]. If anything, it is Americans who have been lagging.
The number of old aunties and uncles I see trying to draw cash at the ATM room next to the casino at RWS is shocking.
RWS is Resorts World Sentosa, one of Singapore's two new casino-cum-entertainment complexes.
Several people posted comments expressing shock and concern. Someone suggested increasing the entrance fee levied on Singaporeans and Singapore Permanent Residents to dissuade them from entering. This is currently about $100 AFAIK. Someone else suggested barring them entirely and only allowing tourists in.
My friend said in response to the commenter who suggested increasing the fee:
Then the aunties will just want to make back more of their "sunk" cost. Gambling, if you haven't already noticed, is price inelastic.
...and in response to the barring suggestion:
Barring Singaporeans is not a good option because it opens other cans (of worms). It could imply that Singaporeans aren't able to control themselves (in some cases true) and changes the casinos' status to that of some foreign enclave. The cruise ship model was still the best - less access of the actual and not contracted sort, but then no revenue to gahmen. :)
Did they look well off? If they want to gamble with their money, isn't it their choice?
Also, if the objection is to their age, would you rather they were young people just getting started on their careers, parenthood, first home, etc? Or middle-aged ones with growing children soon to enter expensive universities and with older parents to support?
One simple way to discourage gambling is to have the levy be a percentage of the amount wagered. That immediately brings down the odds of success. Gamblers, especially big ones, would understand this.
The percentage idea I'm talking about doesn't have to be a small single-digit percentage. It could even be 100% or more of the amount wagered. But, similar to what my friend said, this could end up discouraging gambling so well that government revenues (from Singaporean gamblers) actually go down in absolute dollars.
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