Successful innovators are conservative. They have to be. They are not ‘risk-focused’; they are ‘opportunity-focused. - Peter Drucker When Amazon reported a strong third-quarter revenue growth in year 2011, but indicated that they will spend more money to invest in continued growth, stock plummeted and traded lower at $181. Stocks was always bumpy when it came to Amazon in those years. It was due to the fact investors were derailed by short term results while company and its founder Jeff Bezos were playing long term game.
This is final part 5 of me documenting my journey into economics. In this I want to write about trade economics, generally called - Global Trade. Trade has grown so much in the past century, you can even define that it is an important development that has changed world. This integration of national economies has materialized into remarkable growth in trade between countries. World data from 2019 shows that trade openness (defined as country’s import-export as share of country’s GDP) has an average of 30% increased from 1950.
This is the part 4 of my economics journey series. You can read part 1, part 2, part 3. As I am summarizing my learning as a beginner here, I found growth theories more relatable than many before. This part covers the growth aspect of economics. So here we go with few definitions before we jump into theory. Key Glossaries Positive Economics - Branch of economics that uses fact-based approach to explain an economic model.
“Stability is unstable.” - HYMAN MINSKY Warning - This might be a boring part of economics in my opinion and it depends on how you see it. I personally love this part as it is the core in many respect. This is continuing from my Part1 and Part 2 of my journey into economics. Free Market Capitalism Understanding capitalism is key to understand many countries policies and growth. If you are working for a pay to maximize the profits for the owners, you are a part of capitalist system.
My Journey into Economics Part 2 - Classical Theories An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today. - Laurence J. Peter In Part 1, I laid out some key glossaries and here I want to write about some classical economic theories in a simple format. Obviously this is to offer a big picture to consume theory in less than a minute.
I have some basic idea of what economics is, mostly from reading news. Apart from that I don’t know much. I was asking to my ex-collegue on what is Stock and how to start investing. I googled a bit in parallel. He guided me into this journey. For me, stock is more of a practical way to learn the market. I learnt that I am not a theoritical person. You learn by doing is my way of learning a thing and read theory when you need.
“What you don’t know, you don’t miss” — Cecelia Ahern Do you say, “I don’t know”? We rarely say and if you observe it is mostly to our inner circle. It is the place you are not being judged. We feel confident when we are not constantly being judged. We all want to look good to others. Furthermore, we dress to impress and tune our body language to look confident.
I wrote something like this back in 2020 during the peak pandemic. I want to write something I collected from then and put it down here. Processes harden into routines. When company decides to do something new, employees try out different approaches. But once it is locked down we don’t try to change much as it increases productivity and predictability. But established process have life of their own.
To know why, we have to start the story from Ashoka and his edicts he installed all over India back then. Brahmi script is base for all Indian languages that is in use. Popularly known as Stick Figure script. This is an earliest writing system of South Asia, India after Indus Script. This script is adopted for Sanskrit, Prakrit, Tamil in its own way. The timeline of origin of this script is debated by scholars.
This is a guest post from my friend. I know this is first of many. I am excited that my friend decided to give a try in writing. He has chosen to remain anonymous. He lives in India with his wife and a daughter. Furthermore, he recently had a trip with friends. This article is his perspective and what he gained from the trip. By the way, this is his first time writing an article or post of any kind out in public.
It’s always, “All About People” The world we live in today often fails to recognize the value of human beings Month of June was rough for our family with back to back illness. We were down and tired. I assume most had their phases like these. But then I organized a small mini party for my daughter’s birthday. A close group of people. 4 families. Few I knew in last couple of years and few bit more than that.
Envy kills happiness. By comparing ourselves with others takes focus away from oneself. By complaining, we forget to fix ourselves first. In my native language Tamil, there is a work of ethics and way of living - Thirukural ( one of the best collection of work on ethics and morality). In fact, I made a website for my own reading - https://randomkural.herokuapp.com ஏதிலார் குற்றம்போல் தங்குற்றங் காண்கிற்பின் தீதுண்டோ மன்னும் உயிர்க்கு. (190)
I personally do not have a routine. But I am seeing every single productive pundit out there is recommending to have one. It helps reduce the decision fatigue. Agatha Christie’s (a popular English writer known for her mystery novels) hero - Hercule Poirot, a famous fictional detective, always insist on method and order. He will have his routines and process on how he approaches his murder cases. It helps him to have a mind which is like a still water.
I thought I should title this “How to make effective decisions ?”, but sounded like click bait. But rather true to the content of this article, I mentioned, “Decision Fatigue”. This is real and many don’t realize this. Do you know why Mark Zuckerberg wears a monotonous grey t-shirt, or why Steve Jobs used to keep his morning routines almost the same ? They are all trying to avoid making decisions when then can.
I use to quote in my workplace, “OLD is GOLD”. It doesnt mean I support all the old things, but we have to learn all the lessons we got from the past and use that to move forward. In similar vein older people have a radically different view point than the younger folks. Old people have seen life and again it doesnt we have to take everything but certainly if you talk to many old folks, you will see a pattern.