What’s next in public transportation? Urban gondolas? The most expensive textbook ever. Osama Bin Laden on InTrade: you could have made a fortune. Maybe. Someone actually yelled “Stop the Presses” in 2011. The real reason machines and the internet won’t replace secretaries. Space shuttle launch delay has a big price tag.
Thanks to recent, hugely popular books about the development of expertise, the term deliberate practice is coming into common usage as the kind of practice that produces expertise.
Deliberate practice requires careful reflection on what worked and what didn’t work. A budding concert pianist may practice a particularly troublesome passage listening for places where his fingers do not flow smoothly. A chess student may spend hours analyzing one move of a world-championship chess match trying to see what the grandmasters saw. This kind of practice demands time for reflection and intense concentration, so intense that it is difficult to sustain for longer than 3 hours per day.
As I have learned more about deliberate practice, I often think about its lessons for the educational system. And they are not happy ones.
Today nearly every company and organization has a website—there are by some counts nearly half a billion of them (and a Google estimate suggested one trillion unique URLs). Yet if you search for the website of the most important law firm in Hollywood, Ziffren Brittenham, you won’t find it. (Disclosure: Ken Ziffren is a colleague and trustee at UCLA Law School).
Similarly, even a casual fan of TV and film knows that the Creative Artists Agency, or CAA, is one of the biggest power centers in Hollywood. CAA does have a website. But it doesn’t tell you anything beyond the addresses of the firm’s various offices.
Have these major Hollywood players not heard of the internet? Or do they have some other strategy?
I bought a round-trip ticket for a short train trip in the Netherlands, paying full price. Later I asked a colleague if there are discounts of any kind. Yes, she said, as long as you travel after 9 a.m. I assume this illustrates peak-load pricing, so I asked about traveling in the evening rush hour. It turns out the discount is good any time after 9 a.m.—there is no peak-load pricing for evening rush.
Two months ago, we migrated this blog away from nytimes.com, where it had lived for three-plus years. The migration was generally a success, but not totally. There were some early technical difficulties (servers issues, caching issues, and other things you don’t care about), but those were fixed relatively quickly. The bigger problem was that we weren’t crazy about our redesign — and, you, dear readers, were even less crazy about it than we were. It was too grid-dependent, photo-dependent, not readable enough, etc. So we’ve spent the past several weeks re-doing our re-do, and you can see the result as of today.
A new study of capital sentences handed down in first degree murder cases finds evidence of racial bias against minority defendants who killed white victims. The study (abstract here; pdf here) was conducted by Harvard economist Alberto Alesina and Eliana La Ferrara of Universita’ Bocconi. It finds that for sentences handed down to minority defendants convicted of killing white victims were as much as 9 percent more likely to be reversed than in cases involving a minority defendant killing a minority victim. The study examined the race of the defendant and of the victim(s) for all capital appeals that be came final in the U.S. between 1973 and 1995.
I’m back to inviting readers to submit quotations whose origins they want me to try to trace, using my book, The Yale Book of Quotations, and my more recent researches. Hugo asked: “Better to remain silent and be thought a fool than to speak out and remove all doubt.” – Abe Lincoln. The Yale Book of Quotations has the following entry.
“Giving to Charity” is another myth we fervently uphold as part of the Great American Religion — just like “own a home” or “send your kids to college.” It’s time we stop blindly believing in mythology. I’m not saying don’t give. I’m not saying don’t be spiritual or don’t be good. But do it with thoughtfulness, with true spirit, with a true desire to help. More harm than good is done when you blindly throw money at most charities.
When the first version of this article came out (“How to Be a Superhero…or Why I Would Never Donate to a Major Charity”), I got a lot of criticism. So I’m going to answer some of the criticisms/questions that arose and I look forward to any comments or further suggestions.
We’ve written about prostitution more than a few times on this blog, and in SuperFreakonomics, we devoted an entire chapter to the economics of prostitution. Now comes an interesting bit of new academic research from India that draws similar conclusions: once you put aside your moral views, it’s not hard to see that entry into the profession is driven by salary and career options.
Former heavyweight champ Mike Tyson is famous for a lot of things, including biting off Evander Holyfield’s ear in a fight. A few years later he got this unusual tattoo on his face, also now famous.
Last week, Victor Whitmill, the tattoo artist who inked Tyson, filed suit against Warner Brothers, claiming they had infringed his copyright in Tyson’s tattoo. Which raises an interesting question: Can you copyright a tattoo?
There’s a growing sentiment among economists that GDP is a poor measure of a country’s well-being. (See our recent podcast on the topic; also, the research of Joseph Stiglitz.) The latest fad among European governments seeking to separate the overall health of citizens from sluggish economic data is to ask them if they’re happy. The results aren’t exactly encouraging. Less than half of British adults feel they are thriving. And France now ranks as the world’s most pessimistic country, with only 15 percent saying they expect things to get better in 2011.
Think back to high school. The quarterback on the football team had a legendary game over the weekend, and made everyone associated with the school so proud they could split their pants. On Monday, he’s treated like a hero.
But, interestingly, people find themselves thinking better of him not only for his athletic exploits. Suddenly, everything about him seems a cut above.
The price of gasoline is currently outrageous in the Netherlands, about €1.60/liter (about $8.80 per U.S. gallon). What do residents do? They arbitrage, so that if they’re headed south they plan to drive through and fill up in Luxembourg, where the price is “only” about €1/liter. This is a bad idea, unless your trip would take you near there anyway. Also, because there are often long lines of liked-minded arbitrageurs waiting to fill up, this is a bad idea if your time is valuable.
A new Census report finds that for the first time, more women in the workforce have bachelor’s degrees than men (37 percent vs. 35). Women are gaining on the education front in general: for ages 25 to 29, 36 percent of women had a bachelor’s or advanced degree versus 28 percent for men. Women were also slightly more likely to have a high school diploma than men: for age 25 and above, it’s 87.6 percent versus 86.6 percent.
Remember Round 1? Here now, the two economics heavyweights square off again, in spectacular rap-ified fashion: You can find more related material here. It is the co-creation of Russ Roberts, who you may remember making some provocative arguments in our “What Would the World Look Like If Economists Were in Charge?” podcast. And here‘s a Q&A with Roberts about the . . .
Photo: Nokia Connect A new report from the consultants at McKinsey touts the impact that a new generation of HTML code will have on the world’s smartphones. HTML is the programming standard that’s the backbone of the Internet. The latest version, HTML5, will essentially allow mobile programs to run through a Web browser rather than a specific operating system. That . . .
We’ve written a lot about the economics of drugs, both legal and illegal. There’s an interesting article in Popular Science about Pyrex bake ware, crack cocaine, and the unintended consequences of reducing a product’s quality.
This is a cross-post from James Altucher‘s blog Altucher Confidential. His previous appearances on the Freakonomics blog can be found here. If you Google “entrepreneur” you get a lot of mindless cliches like “Think Big!” For me, being an “entrepreneur” doesn’t mean starting the next Facebook, or even starting any business at all. It means finding the challenges you have . . .
Children in Armenia are now required to learn chess at school. For New York taxi drivers, economics is always on the mind. Cost benefit analysis of actions from the movie Star Wars. Royal wedding to add £1 billion to UK economy. 120 years later, an uncensored version of Oscar Wilde’s The Picture of Dorian Gray is published. Professor Charles De . . .
One of my biggest thrills as a kid in the 1950s when we visited New York City was to go to the Horn & Hardart Automat. The last one closed in 1991—and I haven’t seen anything similar in the U.S. since. But: Walking around Eindhoven, Netherlands, there was the automat concept visible in the doorway of an eatery. Why here in the Netherlands, but not in the U.S.?
We’ve written a lot about gender on this blog, and the preference for boys over girls has been a hallmark of Asian societies for centuries. This has led to large gender imbalances across much of Asia, particularly in China and India. In China, there are 119 boys born for every 100 girls. According to India’s recently completed census, among children six and under, there are only 914 girls counted for every 1,000 boys.
Here now is the second in a series of guest posts from Charles Fishman, whose new book is called The Big Thirst: The Secret Life and Turbulent Future of Water. (Fishman’s last book is The Wal-Mart Effect.) In The Big Thirst, Fishman tackles the debate around water as an increasingly precious resource while reminding us that water can’t actually be . . .
According to a study published in the Journal of Human Capital, marriages among movie stars may help unravel the mystery behind why people tend to marry partners of similar education levels. It’s a question that’s been puzzling social scientists for years. Some reason that it is mostly due to monetary reasons: a partner with similar education should have similar salary . . .
I like this question: If you keep a folder of important/embarrassing material on your computer’s desktop (or I guess a real desktop, even) and want to make sure that no one ever opens it, what’s the best name to give the folder? “Actuarial Test Prep” maybe? Suggestions, please. Also, does anyone know the name for this dilemma? ADDENDUM: Thanks . . .
A new report from the OECD paints a fascinating picture of how citizens from different countries stack up on an assortment of metrics: from who works the longest hours, who shops the most, to who is most trusting of others. The annual report, titled “Society at a Glance 2011 – OECD Social Indicators,” is chock-full with interesting data on all kinds of social behaviors.
As I type these words, the biggest insider-trading trial in years, that of Raj Rajaratnam, has just gone to the jury. I haven’t followed the trial too closely, but the gist is evident: the line between “insider trading” and the legitimate, if sharp-elbowed, acquisition of useful trading information is extremely blurry. This is hardly the only insider case at the moment. Preet Bharara, U.S. Attorney for the Southern District of New York, famously said last fall that “illegal insider trading is rampant and may even be on the rise.” So it seemed a good time to put together a Freakonomics Quorum and ask a couple of straightforward questions.
Not long ago, Levitt solicited your questions for the economist Gary Becker. Dubner interviewed Becker for a new project called Expert Insight (see BusinessWeek writeup here), whereby various “experts” — in economics, poker, golf, etc. — can be booked for web-chats. Becker is, as always, fascinating and far-ranging, covering everything from immigration policy and organ transplantation to (at the suggestion . . .
Dean Karlan of Yale, and Jacob Appel of Innovations for Poverty Action answer reader questions on how to tackle global poverty.
Automobile ownership proceeds at a pace that depends on the absolute level of a nation’s economic development. Driven by growth in China and India, the number of people who own cars is expected to reach 2 billion by 2030.
Selecting a player in the NFL draft is essentially trying to predict the future, and human beings are simply not very good at it. Things get even harder when trying to pick the most important position in all of sports: the quarterback.