Archive for August, 2009
August 24, 2009 at 4:07 am
· Filed under Worth reading ·Tagged hot stove effect, innovation, James G march, learning
One form of the hot-stove effect is the competency trap, where learning encourages people to stick to and improve skills they have already honed to a fine degree rather than spend time gaining new ones. Some of my grandchildren say to me, “We’re not very good at mathematics, so we’re not going to take any more mathematics.” I say, “Wait a minute. Mathematics is a practice sport. If you’re not very good at it, you take more of it.” That’s counterintuitive, and it goes against the main logic of experiential learning, not to mention grandchildren’s sentiments about control over their own lives. It has also been demonstrated that the hot-stove effect leads experiential learners to be risk averse. It is possible to limit the hot-stove effect by slowing learning so that you increase the sample of alternatives that have poor results. That obviously has the cost of incurring short run losses and consequently is hard for an adaptive system to do. …
Part of foolishness, or what looks like foolishness, is stealing ideas from a different domain. Someone in economics, for example, may borrow ideas from evolutionary biology, imagining that the ideas might be relevant to evolutionary economics. A scholar who does so will often get the ideas wrong; he may twist and strain them in applying them to his own discipline. But this kind of cross-disciplinary stealing can be very rich and productive. It’s a tricky thing, because foolishness is usually that—foolishness. It can push you to be very creative, but uselessly creative. The chance that someone who knows no physics will be usefully creative in physics must be so close to zero as to be indistinguishable from it. Yet big jumps are likely to come in the form of foolishness that, against long odds, turns out to be valuable. So there’s a nice tension between how much foolishness is good for knowledge and how much knowledge is good for foolishness.
Source: Ideas as Art: A Conversation with James G. March
The hot stove effect first observed by Mark Twain. He observed that if a cat happens to jump on a hot stove, he will never jump on a hot stove again. This of course is a good thing. However, not so good is the fact that he will not jump on a cold stove either, or perhaps anything the bears the slightest resemblance to a stove. This effect have many implication in area of leanring and experimentaal innivation.
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August 23, 2009 at 3:04 am
· Filed under Uncategorized ·Tagged desire, dhrama, hunger, verse, wealth
arthathuranam na gurur na bandhu
kSudhAthuranam na ruciki na pakvam
vidyathurANAm, na sukham, na nidhrA
kamathuranam na bhayam na lajja
One who pursues wealth knows no guru or relations.One who is hungry knows not taste or if the food was cooked well.One who pursues knowledge knows neither comfort nor sleep.One who has desires knows no fear or shame.
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August 14, 2009 at 4:01 am
· Filed under Uncategorized ·Tagged India, Ramachandra Guha, superpower, governance, issue
“There was a young man who sold solar-powered lamps in Chitradurga that solved the lighting problems of small market places. An entrepreneur had developed a mobile phone that provided information to farmers about mandi prices of commodities. There was an IT professional from Silicon Valley who had returned home to computerise land records in Karnataka. They were all people who were doing unusual, challenging work, but were exasperated. And the source of their exasperation was the same — the government of India.”
Source: India cannot become a superpower
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August 3, 2009 at 4:39 am
· Filed under idea ·Tagged ecomonics, equillibrium, George Dyson, history, replication
The unlimited replication of information is generally a public good (however strongly music publishers, software developers, and other pockets of resistance disagree). The problem starts, as the current crisis demonstrates, when unregulated replication is applied to money itself. Highly complex computer-generated financial instruments (known as derivatives) are being produced, not from natural factors of production or other goods, but purely from other financial instruments. When the Exchequer splits the tally stick in two, the King keeps the gold and silver, and you keep one half of the stick. Derivatives are the equivalent of splitting off (and selling) further copies of the same stick—or the “clipping” and debasing of coinage that led Isaac Newton to spend the later part of his life reforming the financial system as Master of the Mint.
The result is a game of musical chairs that follows von Neumann’s model of an expanding economic equilibrium—until the music stops, or we bring in Isaac Newton, whichever comes first.
Source: ECONOMIC DIS-EQUILIBRIUM
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