Declining Faith in Hard Work and Capitalism by Martin Hart-Landsberg, PhD, Aug 1, 2012, at 11:35 am Cross-posted at Reports from the Economic Front. The Pew Research Center recently published a report titled “Pervasive Gloom About the World Economy.” The following two charts come from Chapter 4 which is called “The Causalities: Faith in Hard Work and Capitalism.” The first suggests that the belief that hard work pays off remains strong in only a few countries: Pakistan (81%), the U.S. (77%), Tunisia (73%), Brazil (69%), India (67%) and Mexico (65%). The second chart highlights the fact that growing numbers of people are losing faith in free market capitalism. GlobeScan polled more than 12,000 adults across 23 countries about their attitudes towards economic inequality and, as the chart below reveals, the results were remarkably similar to those highlighted above. It certainly seems that large numbers of people in many different countries are open to new ways of organizing economic activity.
Connecting government — The Connected Company “We serve the people… If, in the interests of the people, we persist in doing what is right and correct what is wrong, our ranks will surely thrive. ~ Mao Zedong Government is a service. What is a service? A service is a kind of a process. But services are unique kinds of processes because they require the customer’s participation. Example: Customers do not walk onto a factory floor, but in a retail store, that’s exactly what they do. Example: I recently moved, and had to call my bank to change my address. The first person I spoke with could change the address for my business account. Compare this with a financial services company called Vanguard, who handles customer service completely differently. Developed economies are dominated by services. The global economy is increasingly dominated by services. As customers and citizens get access to more and more services, competition between service providers results in ever-increasing expectations for service quality. Example. Hacktivism.
Bounded rationality Bounded rationality is the idea that in decision-making, rationality of individuals is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision. It was proposed by Herbert A. Simon as an alternative basis for the mathematical modeling of decision making, as used in economics, political science and related disciplines; it complements rationality as optimization, which views decision-making as a fully rational process of finding an optimal choice given the information available. Another way to look at bounded rationality is that, because decision-makers lack the ability and resources to arrive at the optimal solution, they instead apply their rationality only after having greatly simplified the choices available. Some models of human behavior in the social sciences assume that humans can be reasonably approximated or described as "rational" entities (see for example rational choice theory). Origins
Society's Breakthrough! Cognitive bias Systematic pattern of deviation from norm or rationality in judgment Although it may seem like such misperceptions would be aberrations, biases can help humans find commonalities and shortcuts to assist in the navigation of common situations in life. Some cognitive biases are presumably adaptive. A continually evolving list of cognitive biases has been identified over the last six decades of research on human judgment and decision-making in cognitive science, social psychology, and behavioral economics. Overview The notion of cognitive biases was introduced by Amos Tversky and Daniel Kahneman in 1972 and grew out of their experience of people's innumeracy, or inability to reason intuitively with the greater orders of magnitude. For example, the representativeness heuristic is defined as “The tendency to judge the frequency or likelihood" of an occurrence by the extent of which the event "resembles the typical case". Types List of biases Reducing
How to Turn Republicans and Democrats Into Americans - Magazine Topos Graphics Angry and frustrated, American voters went to the polls in November 2010 to “take back” their country. Just as they had done in 2008. If we are truly a democracy—if voters get to size up candidates for a public office and choose the one they want—why don’t the elections seem to change anything? This is not an accident. Many Americans assume that’s just how democracy works, that this is how it’s always been, that it’s the system the Founders created. What we have today is not a legacy of 1789 but an outdated relic of the late 1800s and early 1900s, when Progressives pushed for the adoption of primary elections. I am not calling for a magical political “center”: many of the most important steps forward in our history have not come from the center at all, including women’s suffrage and the civil-rights movement, and even our founding rebellion against the British crown. Break the power of partisans to keep candidates off the general-election ballot.
List of cognitive biases Cognitive biases are tendencies to think in certain ways that can lead to systematic deviations from a standard of rationality or good judgment, and are often studied in psychology and behavioral economics. There are also controversies over some of these biases as to whether they count as useless or irrational, or whether they result in useful attitudes or behavior. For example, when getting to know others, people tend to ask leading questions which seem biased towards confirming their assumptions about the person. However, this kind of confirmation bias has also been argued to be an example of social skill: a way to establish a connection with the other person. Although this research overwhelmingly involves human subjects, some findings that demonstrate bias have been found in non-human animals as well. Decision-making, belief, and behavioral biases Many of these biases affect belief formation, business and economic decisions, and human behavior in general. Social biases
Office of Naval Research Home Page As Navy leaders gather this week at the 2014 Sea-Air-Space Expo in National Harbor, Md., engineers are making final adjustments to a laser weapon prototype that will be the first of its kind to deploy aboard a ship late this summer, fulfilling plans announced by the chief of naval operations a year ago at the expo. The prototype, an improved version of the Laser Weapon System (LaWS), will be installed on USS Ponce for at-sea testing in the Persian Gulf. At about $1 per shot, the laser offers Sailors an affordable and revolutionary way to counter a variety of threats, from unmanned aircraft to small attack boats. Navy League Sea Air Space (Details) Gaylord National Convention Center, National Harbor, Md. April 7-9, 2014 15th Annual Science and Engineering Technology Conference (Details) College Park Marriott Hotel and Conference Center College Park, Md. Navy Week Dallas/Fort Worth (Details) April 21-27, 2014 At far left, Chief of Naval Research Rear Adm.