Posts tagged with: Business/Finance

The largest initiative to combat poverty by funding public schools has occurred in Camden, New Jersey, the poorest small city in America. New Jersey spends about 60 percent more on education per pupil than the national average according to 2012 census figures, or about $19,000 in 2013. In Camden, per pupil spending was more than $25,000 in 2013, making it one of the highest spending districts in the nation.

But as Reason.com notes, all that extra money hasn’t changed the fact that Camden’s public schools are among in the worst in the nation, notorious for their abysmal test scores, the frequent occurrence of in-school violence, dilapidated buildings, and an on-time graduation rate of just 61 percent.

As Bridget Cusato-Rosa, Principal of Freedom Prep Charter School, says in the mini-documentary about the effort,

A lack of resources is not our problem. I actually despise that argument. I think it’s a scapegoat. ‘We need more money. If we had more money, we could do this, or do this.’ It’s just a Band-Aid for the problem. Why not address the real issue, which is what’s broken right in front of you?

government-regulation-in-business-red-tapeWhat is the annual cost of regulations for America?

The short answer is that no one knows for sure. The officially reported regulatory costs as reported by the Office of Management and Budget (OMB) total up to $128.7 billion. But the real costs of regulation is impossible since, as the Nobel-winning economist James Buchanan said, “Cost cannot be measured by someone other than the decision-maker because there is no way that subjective experience can be directly observed.”

Still, we can attempt to estimate the costs based on factors that can be measured. Clyde Wayne Crews Jr. of the Competitive Enterprise Institute provides an example of such an estimate. His findings:
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china-christiansFor the past three decades China has been the world’s fastest-growing major economy, with growth rates averaging 10 percent a year for 30 years. As Brian J. Grim, founder and president of the Religious Freedom & Business Foundation, notes, there are many reasons for the growth, such as market mechanisms, modern technology and Western management practices. But one factor that is often overlooked is the role of Christianity:
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Friedrich Hayek once called intellectuals “professional secondhand dealers in ideas.” And the Preacher proclaimed, “There is nothing new under the sun.” So perhaps it shouldn’t be surprising when ideas, memes, and other cultural phenomena pop up again and again.

There is, however, a notable correspondence between an Acton Commentary that I wrote earlier this month, “The Worst Christmas Song Ever,” and a piece that appeared weeks earlier at The Federalist. In “‘Do They Know It’s Christmas’ Is The Worst Christmas Song Ever,” Leslie Loftis takes down this miserable tune in devastating fashion. Loftis points out that the song “has a little of everything to loathe. Condescension. Inane inaccuracies. Smugness. Mullets.”

Whether or not you have read my commentary, you should go check out her case against the song now.

I first noticed the song, which heretofore had been background Christmas muzak, when we screened the new documentary Poverty, Inc. earlier this year at the Acton Institute offices. That film includes a section discussing “Do They Know It’s Christmas?”

Matthea Brandenburg helpfully points out some further commentary by Magatte Wade and others about the song over at the PovertyCure blog.

When Christmas rolled around, I had the idea to write something about the song, and connected it with William Easterly’s analysis of the differing perspectives on development offered by Gunnar Myrdal and Hayek. But I now think that even though I hadn’t read Loftis’ piece, I had seen the title before I wrote my piece. In fact, I checked Ben Domenech’s excellent email newsletter The Transom, to which you should subscribe, and there on December 3 is the following: ‘“Do They Know It’s Christmas” is the worst Christmas song ever. http://vlt.tc/1qf7

No doubt I saw the link, and got the idea for calling it the “worst ever” into my head. Then some days later I connected it to the Poverty, Inc. clip and wrote my piece. So the idea for calling this the worst Christmas song ever must be credited to Loftis and The Federalist. I’m sorry that I didn’t realize that Loftis’ piece had already appeared, or I would have pointed to it earlier, and given credit for the idea straight away. So in the interests of disclosure, I certainly haven’t been the only one to criticize this song or even to call it the “worst Christmas song ever.” I guess I’ve got egg(nog) on my face. The variety of voices that find the song problematic, however, should be a indication that there’s something rotten in “Do They Know It’s Christmas?” It is, after all, a song that includes a toast like this: “Here’s to them underneath that burning sun.”

“Do They Know It’s Christmas?” is like a bad earworm that won’t go away. And now I really, really hate that song!

lemonade-stand-illegal-425ds072709Entrepreneurs – those people among us who seek to serve others through business – are an optimistic bunch. So says the 2014 Amway Global Entrepreneurship Report, published annually by Amway Corporation, the world’s largest direct sales company. It’s a good thing entrepreneurs are optimistic; they have a lot of work to do. According to Amway Chairman Steve Van Andel:

Entrepreneurs play an important role in growing economies. They create jobs, encourage competition and help communities grow and flourish. As the business environment has changed through the years, so have the reasons people decide to venture out on their own.”

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beatlesOne would think that the road to success for entrepreneurs would start with a business major. After all, you have to know marketing and business strategies and accounting and all that stuff, right?

Panos Panay gives some thoughtful rebuttal to that idea. He is a successful entrepreneur, having created Sonicbids, a platform where musicians and bands can book gigs, promote themselves and basically act as their own managers. He is also the founding manager of Berklee Institute for Creative Entrepreneurship. He believes he’s been a successful entrepreneur not in spite of his music background, but because of it. (more…)

Blog author: jcarter
Friday, October 31, 2014
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man_thinking_numbersIs the murder rate in the U.S. increasing or decreasing? What percentage of teen girls will give birth this year? What percentage of Americans are Christian or Muslim? What percentage are immigrants?

If you guess wrong, you’re not alone. A new global survey, building on work in the UK last year for the Royal Statistical Society, finds that most people in the countries surveyed were wildly wrong. For instance, Americans guess wrong on each of the following questions:

• What Percentage of Girls Age 15-19 Give Birth Each Year? (Avg. guess: 24 percent; Actual: 3 percent)

• What Percentage of People Are Muslim? (Avg. guess: 15 percent; Actual: 1 percent)

• What Percentage of People Are Christian? (Avg. guess: 56 percent; Actual: 78 percent)

• What Percentage of People Are Immigrants? (Avg. guess: 32 percent; Actual: 13 percent)

• What Percentage of People Voted in the Last Major Election? (Avg. guess: 57 percent; Actual: 67 percent)

• What Percentage of People Are Unemployed and Looking For Work? (Avg. guess: 32 percent; Actual: 6 percent)

While these examples may seem relatively trivial, they highlight that when it comes to numbers that shape policy and politics, many Americans are extremely confused. Ideally, before making a decision about how to vote or stressing about the latest health threat, we’d research the numbers to develop an informed decision. But the number of issues we face each day often prevents us from doing more than making a “best guess.”

Fortunately, there are ways we can hone our skills at guessing and estimation — guesstimation — that will help us minimize our innumeracy. Here are a few tips for making better guesses about numbers related to politics, policy, and demographics:
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