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On Being Smart

"What is the crucial quality important for succeeding in graduate school? I will provide a few examples that suggest that: i) The answer is not intelligence – a minimum of intelligence, such as what everyone reading this article has, is sufficient for succeeding in any graduate school, ii) it is ... hard work. I apologize for the disappointment."

Read the entire, short paper at http://kam.mff.cuni.cz/~matousek/mustafa-onbeingsmart.pdf.

Posted on Wednesday, May 31, 2017 at 11:13AM by Registered CommenterJames Drogan | CommentsPost a Comment

Three Main Takeaways from the SIC 2017

  1. Economic Power Shifts from West to East: India and China’s share of world GDP has increased six-fold since 1970. Meanwhile, the G7 nations share of global trade has declined from 50% to 30%. This shift in economic power presents one of the greatest investment opportunities in history… and also carries many risks.
  2. Demographics Are Destiny: Populations in the West are aging rapidly. In the US alone, 10,000 people turn 65 every day… and will do so for the next dozen years. An aging population means less economic activity, which has profound implications for your portfolio.
  3. The Coming Technological Revolution Will Change the World: Over one-third of US jobs are expected to be automated over the next decade. But automation and advances in technology aren’t just affecting manufacturing workers—they will impact your future investment success.

Source: Mauldin Economics

Posted on Monday, May 29, 2017 at 08:00AM by Registered CommenterJames Drogan | CommentsPost a Comment

Things That Make You Go Hhhhhmmmmm

“Look, here is what this cool program tells us your portfolio should look like. It’s all in the math, and that’s why you can trust it.”

Mauldin, J. (2017, May 27). The Great Reset, Part Two.

Posted on Monday, May 29, 2017 at 07:22AM by Registered CommenterJames Drogan | CommentsPost a Comment

Implications of the Emerging Data Economy

From The Emerging Data Economy:

All these data is enabling us to better understand the world’s physical, economic and social infrastructures, as well as to infuse information-based intelligence into every aspect of their operations.  It’s making it possible to not just better understand what’s happening in the present, but to also make more accurate predictions about what might happen in the future.  Beyond its use in improving the operational efficiency and financial performance of companies, the data can now be applied to significantly improve customer relationships, as well as to create whole new classes of smart products and services.

Who is "us?"  How evenly will the benefits of the emerging data economy be distributed amongst the socio-economic-political classes?

Posted on Wednesday, May 24, 2017 at 08:39AM by Registered CommenterJames Drogan | CommentsPost a Comment

"We have met the enemy and he is us." Pogo

"My own sense is that the answer to 'why has it taken so long' goes beyond technology. In the first decade of the 20th century, many firms in the physical economy were often focused on how to cut costs by outsourcing or setting up global production chains, The leading providers in industries like health care and education seem exceptionally set in their traditional ways, with practices are hard for either internal executives or external entrepreneurs to uproot."

Digital Forces and the Other 70% of the US Economy, CONVERSABLE ECONOMIST, Apr 28, 2017

Posted on Sunday, May 21, 2017 at 12:57PM by Registered CommenterJames Drogan | CommentsPost a Comment

From the Frontline

"Despite the fact that I loathe group work, this capstone pushes us to ensure that the team comes first. Our success or failure comes from our ability to make the team, beyond our selves,  the priority. As a unit we collaborate to ensure that the team has what is required to see the mission through to completion."

Posted on Sunday, March 26, 2017 at 09:26AM by Registered CommenterJames Drogan | CommentsPost a Comment

Energy and Productivity

Is it reasonable that “Most analysts think that global demand for energy will increase in the near future (When Renewables Replace Fossil Fuels. (n.d.). Retrieved March 25, 2017, from https://www.stratfor.com/image/when-renewables-replace-fossil-fuels) and that “...Haldane's broader perspective on global productivity growth, and on his intriguing argument that from a global perspective, most of the productivity slowdown can be attributed to a failure of innovation to diffuse across countries as rapidly as in the past” (Taylor, T. (2017, March 24). CONVERSABLE ECONOMIST: Global Productivity Growth: Diminishing Convergence. Retrieved from http://conversableeconomist.blogspot.com/2017/03/global-productivity-growth-diminishing.html) could be simultaneously true?
Posted on Saturday, March 25, 2017 at 07:08AM by Registered CommenterJames Drogan | CommentsPost a Comment

Another Hhhhhmmmmm

Posted on Sunday, March 19, 2017 at 02:38PM by Registered CommenterJames Drogan | CommentsPost a Comment

Technology and Work

From Mauldin, J. (2017, March 1). Tax Reform: The Good, the Bad, and the Really Ugly—Part Four.

"The problem is that at least 80% of manufacturing jobs were lost not to companies moving factories to China or Mexico but to increased automation. Some estimates run as high as 90%. Those jobs are never “coming back.” They are gone. And that trend is going to continue and accelerate. I fully understand that if we do get corporate tax reform, along with some other reforms, it is quite possible that Apple, for example, would move its iPhone 10 factory to the US. But iPhones are increasingly assembled by robots, and in a few years those and other such products will mostly be made on largely automated production lines, whether in China or the US.

That said, if Foxconn does set up a flat-screen display factory in the US, it would create 30,000+ jobs. Of course, they are asking for US government help and subsidies. Note that Apple has 766 suppliers, of which just 69 are in the US. Manufacturing iPhones in the US would be more about the logistics of getting just-in-time components from those other 700 suppliers, which are all over the world. The additional cost for US-based labor would not be all that much.

And that situation is playing out over hundreds of industries. Much of what we buy today is absolutely reliant on a complex, seamlessly functioning global supply chain. Did you know that an Apple iPhone contains about 75 elements, as in periodic table elements? There is iron, aluminum, carbon, and silicon, of course, but also a host of exotics. Most of those aren’t mined or refined in the United States."


Posted on Saturday, March 4, 2017 at 06:32AM by Registered CommenterJames Drogan | CommentsPost a Comment

Schools and universities will have to do more to educate students to be better consumers of information.

Shafik, M. (2017, March 1). Restoring Trust in Expertise. Retrieved March 1, 2017, from https://www.project-syndicate.org/commentary/restoring-trust-in-experts-by-minouche-shafik-2017-03
Posted on Wednesday, March 1, 2017 at 06:43AM by Registered CommenterJames Drogan | CommentsPost a Comment