Smart Links 26 June 2012

Paul Summerville • June 25, 2012

Tags: Canada, Depression, Education, Investing, Yes

Commentary on the mania in negativity, followed by Krugman, Soros, Coughlin, mistake science, and pushing Canadian universities to the top of the heap.

Image from Dante's Inferno.

As an investment advisor friend said to me a few days ago about 50% of his job is keeping his clients from backing off the ledge 20 stories up. Time to lighten up?

Alhambra Partners – The Apocalypse Bubble
There is a lot to worry about these days and no shortage of individuals capitalizing on that fact.

Related.

New York Times – The Great Abdication
Among economists who know their history, the mere mention of certain years evokes shivers.

Related.

Financial Times -- How to shift Germany out of ‘can’t do’ mode
At the meeting in Rome last Thursday, the four heads of state agreed on steps towards a banking union and a modest stimulus package to complement the fiscal compact.

Related.

Telegraph -- Will Egypt become the new Iran?
Having argued consistently for the past year that the so-called Arab Spring would bring nothing but misery and disappointment, I take no great comfort from the outcome of Egypt's presidential elections.

The science of mistakes.

Charlie Fell – A Big Mistake
Mistakes are a frequent topic of discussion in our world.

Excellence in universities. Thanks to Rick of Toronto.

Globe and Mail -- Our research universities can leap ahead
In 2010, Congress asked a U.S. National Research Council committee for 10 measures to strengthen America’s top research universities, in order to secure the country’s prosperity and security.

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Twin Virtues: Inequality of Outcomes & Equality of Opportunity©

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Ultimately, the most successful societies find the balance between the twin virtues of inequality of outcomes and equality of opportunity.

The new politics must marry the twin virtues of unequal outcomes and equality of opportunity.

When too few get too much everybody ends up with less.

Can it be that striving for equality of opportunity however imperfect the process not only benefits the individual but also creates benefits for the society as a whole that are unintended but wonderful?

Economics must be a 'moral enterprise' as much as politics claims to be. Economic outcomes need to be framed in terms of right and wrong not just efficiency if only because these often align in surprising ways.

My vision of Canada is that any Canadian child from a family of limited circumstance can expect to have a chance at lifetime of unlimited opportunities.

Tax policy should be founded on the principle of generating steady tax revenues sufficient to maximise environmentally sustainable economic growth in order to fund fair government.

Public policy should be designed to decrease inequality before the law and increase equality of opportunity.

Capitalism is not the problem; the problem is what we do with capitalism.

Content is always more difficult to argue than conspiracy.

Let the state regulate and the market operate (most things).

Welfare strategies are best designed as a hand up not as a hand out.

Political debate should not be fact free fighting.

Explanation lasts longer than eloquence.

Always favour empowerment over dependency.

The most enduring public figures are embraced for the causes they fought for and not the concept of themselves they hoped others would remember them by.

Find your voice and don't be the echo of somebody else.