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Nobel prize winner George Akerlof described how the quality of goods is degraded due to information asymmetry between buyers and sellers, leaving only “lemons” behind. Lemon is a vehicle with several manufacturing defects that buyers don’t know while buying. The mechanism: Suppose buyers can’t distinguish between a “peach” (high-quality car) and a “lemon”. A dishonest seller can sell the “lemon” saying it as “peach” at a price that is the average value of lemon and peach. So, in the market of lemon and peach, selling lemon will continue and sellers holding peaches will start leaving the market (as buyers can’t distinguish between lemon and peach, and lemon will have a lower price than that of peach). It produces a positive feedback loop because, when enough sellers of peaches leave the market, willingness to pay for buyers will decrease (as the average quality of cars on market decreased) leading to even more sellers of peach to leave the market. Due to lemons, or predatory journals, n...

Coronavirus and social distancing can prepare us for a healthy economic model that can work for any period of time.  Pollution rates are going down, lakes are becoming clean, deers are coming to the roads. In other words, nature is taking over the world.  People are working from home and are getting more family time. All these are transcendent for human beings, which needs to be celebrated.   But many politicians are concerned that it will have a serious negative impact on the economy? But is it so? Or it's because of the present economy itself is in bad design. Social distancing promotes remote working: Here is why remote working is the best way of working. https://iambrainstorming.wordpress.com/2020/02/16/how-to-beat-the-worst-job-culture-of-india/ More autonomy, more productivity, more happiness as you are no more under the robotic control and surveillance of a boss to micromanage all your tasks. Take for example  https://gitcoin.co/  for remote working....

India is bringing the population control bill, but its no way going to save us from the apocalypse. To understand the intensity of danger, let us understand the population growth curves. Changes in Population Size: A population will increase in size with every birth and it will decrease in size with every death. Change in population Size = Births (B) - Deaths(D) Mathematical notation: Where N represents the population size, t represents time and ΔN is the change in population size and Δt is the time interval. r Δt is per capita change in population size If, for example, a population of 1,000 individuals increases by 15 individuals per year, then per capita change in population size is 15/1000 or 0.015. If we make the change at each instant in time, the formula changes to: r represents the per capita change in population size that occurs at each instant in time. Exponential Growth: When the population has abundant food and resources and are free to reproduce, they show exponential grow...

Productivity describes various measures of the efficiency of production. Most Indian bosses are obsessed with more working hours, but the paradox is the more working hours you have the less productive you become. The Relationship Between Hours Worked and Productivity https://cs.stanford.edu/people/eroberts/cs181/projects/crunchmode/econ-hours-productivity.html According to data provided by Ohio University, the average worker is productive for two hours and 53 minutes out of an 8-hour workday. https://onlinemasters.ohio.edu/blog/benefits-of-a-shorter-work-week/ But its not only about productivity but its also about income. In India, a newcomer researcher, programmer or engineer is exploited with long working hours by giving them as low as Rs. 5000 to 10000 per month. You have to pay room rent, transportation charges, electricity bill, for food and clothing as jobs are not available near your home.  The travelling time, which can take more than 4 hours per day due to heavy traffic an...

This is the dictionary definition of capitalism: an economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state Characteristics central to capitalism include private property, capital accumulation, wage labor, voluntary exchange, a price system and competitive markets --Wikipedia What is profit? Profit describes the financial benefit realized when the revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question. Definition of  socialism any of various economic and political theories advocating collective or governmental ownership and administration of the means of production and distribution of goods But do socialism works?  Here are some of the video, why socialism is much more worse than capitalism? https://www.youtube.com/watch?v=AkFZgZ5IjTU https://www.youtube.com/watch?v=Fdfru9NHGvE But what about capitalism. We have one-sided eco...

This is what RTI shows: In four years, Modi govt spent over Rs 4,300 crore on publicity. This is how much other opponents spend on advertisement. Kejriwal’s Delhi govt spent Rs 274 crore on ads since 2015 – four times more than Congress But if you look at the billionaire entrepreneurs like Ambani, and Mittal, they spend about Rs 50-300 crore per year depending on the market conditions.   This is how Advertising works. The Game theory of Advertising.  The payoff is high for both when both the competitor entrepreneurs don't advertise or they do advertise. But entrepreneurs sell products, and money comes from their profit. But what politicians are selling? As they are not selling anything, so the payoff will be the same when they all don't advertise or they do advertise. The effect that politicians are seeking through advertising will not change if there is a complete ban on paid advertisements.  Do you know where does the money on publicity come from? Yes, you have correctl...

Payoff table for modified Schelling Game, for more subjective judgement, when decision can’t be made, and the jury can ask for further evidence. Reference Decentralised Jury: https://kleros.io/assets/whitepaper.pdf Or Something like this, that incentivizes participation even if the answer to the question is subjective.

Citizenship Amendment Act, 2019 is providing a path to Indian citizenships to persecuted Hindu refugees. As a secular country, how it matters, one is Hindu, Muslim or any other religion. Can't we coin the draft something like this: Anyone who is prosecuted based on religion and has spent a minimum of 5 years in India can apply for citizenship. You can get your citizenship after the evaluation of the authenticity of your appeal. It's a suggestion, and can also be further improved. Policies are the mental models, it gives the guidance of how we think and operate, it should be precise and unambiguous without room for confusion, and should give an objective truth that doesn't change with time. Allowing citizenship based on religion generates wrong mental models, and creates uncertainty for other religions. The first principle is don't allow cruelty, it doesn't matter whether you are Muslim or Hindu. Now, Hindus are being prosecuted by some Muslim countries, you never kn...

Details of Fair democracy: https://iambrainstorming.wordpress.com/2019/01/09/from-hypocrisy-to-democracy-this-way-delegated-proof-of-stake-2/ Why will experts join the democracy network in the beginning? What are the Incentives?? 1) Professional Reputation Provide problems documentation of departments with evidence Provide solutions documentation of the departments with evidence Provide criticisms and solutions to the policies of departments Market the solutions in social media Even though its a replacement of present democracy, for now, it will be used to keep the present govt accountable if they are doing something wrong. Documentation will go through peer review, all the participants of the department can review it, with scientific professionalism. It's not like social media, you have to use every sound logic with providing references to your arguments. 2) Crowdfunding Department scientists and voters can crowdfund their solutions and gain incentives for solving problems through...

Books lack the depth, inquiry, reasoning and critical thinking, it is just about memorising names of persons and places, and dates through parroting the quizzes and questions. Students given to memorise names of famous artists Take for example: Book asks to name the national parks of India. What's the point in memorizing names of different national parks, if you don't know anything about ecology; if you can't see and feel the environment and lifestyle of exotic and endangered wildlife in that national park? In many entrances including B.Ed, GK in one of the subjects, and students end up parroting the names. It also takes a huge chunk of time in schools, what if it were used for more meaningful learning. Do the content help in transfer of learning? How questions and content needs to be designed? https://iambrainstorming.wordpress.com/2018/02/17/question-designing-should-be-brain-friendly-cue-based/ Features of great book: https://iambrainstorming.wordpress.com/2017/01/14/all...

In a usual physics book designed for IIT JEE preparation, each chapter contains an average of 50 complicated short cut formulas, and there are about 24 chapters, so in total there can be about 50*24 = 1200 formulas. An almost impossible challenge to be memorized by an average student, which makes the entrance so hard to crack. IIT JEE preparation is not about critical thinking, it's about remembering the formulas, and speed of executing the formulas. This is the 2018 solved paper: Not a single seems to have without formula. https://drive.google.com/file/d/16HkkgWtiOT7T4p0ajYhis9gTqBT2SPGo/view?usp=sharing Please go through the book: Paul Hewitt Conceptual Physics Each chapter contains not more than two to three important formulas, that's all required because all other short cut formulas are based on it. An example question from the book of Paul Hewitt, that helps you to understand conceptual understanding, not executing complicated formulas: An example sample of content that...

The most difficult concept for teaching programming to new students is looping. Students often fail to understand looping because they don't run the loop in their head , and don't think what will be the value of the variable in each loop. The following way of commenting on the loop will help students to understand the loop quickly. Ask them to run the loop in the head, and then comment on what the variables will be in each step of the loop. Remember to maintain the format while writing the comment, don't use short cuts, it will hinder the understanding. Loops with comments squares = [] for value in range(1,11): #loop1 -> value=1, #loop2 -> value=2, #loop3 -> value=3 square = value**2 #loop1 -> value=1, square=1, #loop2 -> value=2, square=4, #loop3 -> value=3, square=9 print(squares) #loop1 -> squares=[], #loop2 -> squares=[1], #loop3 -> squares=[1,4] squares.append(square) #loop1 -> square=1, squares=[1], #loop2 -> square=4, squares=[1,4...

Economics can't be one-sided, where you have some 100 sellers and billions of buyers. One's income is others' spending. #OneSidedEconomy https://youtu.be/PHe0bXAIuk0 How the Economic Machine Works by Ray Dalio Snapshot of Inequality: https://www.cnbc.com/2019/10/07/bloomberg-businessweek-wealth-number-ranking-shows-inequality.html?sf110844641=1

Center has declared Motor Vehicles (Amendment) Act, 2019 using which different states are charging a hefty amount of fines from the citizen for violating traffic rules. Death and Probability: Death in the roads is about probability or chance. There are many ways to decrease the death rates in roads. It includes wearing helmets, following the signals, roads without potholes, wider roads. To follow signals, one needs to know and learn different kinds of traffic signals, and if you are driving on roads, you need to know the driving. For the purpose of evaluating driving skill and the knowledge about traffic signals, RTOs are providing the driving license. All these processes are meant for decreasing the probability of dying on the roads. But in reality, the probability is context-dependent. Take of example, you are travelling a short distance, in narrow roads where traffic is usually high, you can't drive faster than a slow cycle. Whats probability of dying here? The main cause of dea...

What makes a good life? Lessons from the longest study on happiness https://www.youtube.com/watch?v=8KkKuTCFvzI So what have we learned? What are the lessons that come from the tens of thousands of pages of information that we've generated on these lives? Well, the lessons aren't about wealth or fame or working harder and harder. The clearest message that we get from this 75-year study is this: Good relationships keep us happier and healthier . Period. Robert Waldinger, Psychiatrist, psychoanalyst, Zen priest Emotional Safety: https://www.youtube.com/watch?v=1-RZYSTJAAo When we talk about discipline, a lot of time we are punitive because it's faster, restorative takes more time.  Using restorative measures is hard, because learning about emotions is hard, it requires lots of reading and research. Master most of the vocabularies of emotions. Study each of them in detail, learn about its definitions, compare and contrast the terms and find out subtle differences. Find out boo...

Right-wing politics hold that certain social orders and hierarchies are inevitable, natural, normal, or desirable. Some of the definition of social stratification: Social stratification is a kind of social differentiation whereby members of society are grouped into socioeconomic strata, based upon their occupation and income, wealth and social status, or derived power (social and political). As such, stratification is the relative social position of persons within a social group, category, geographic region, or social unit. In modern Western societies, social stratification is typically defined in terms of three social classes: (i) the upper class, (ii) the middle class, and (iii) the lower class; in turn, each class can be subdivided into strata, e.g. the upper-stratum, the middle-stratum, and the lower stratum. Moreover, a social stratum can be formed upon the bases of kinship, clan, tribe or caste, or all four. What Is a Hierarchical Society? https://www.reference.com/world-view/hi...