Tag Archives: events

A view from abroad

Charleston massacre: The latest American mass killing

The regularity of mass killings breeds familiarity. [….] Those who live in America, or visit it, might do best to regard them the way one regards air pollution in China: an endemic local health hazard which, for deep-rooted cultural, social, economic and political reasons, the country is incapable of addressing. This may, however, be a bit unfair. China seems to be making progress on pollution.

The Common Thread

From Time for industry to end its war on regulation

The biggest oil spill ever. The biggest financial crisis since the Great Depression. The deadliest mine disaster in 25 years. One recall after another of toys from China, of vehicles from Toyota, of hamburgers from roach-infested processing plants. The whole Vioxx fiasco. And let’s not forget the biggest climate threat since the Ice Age.

Even if you’re not into conspiracy theories, it’s hard to ignore the common thread running through these recent crises: the glaring failure of government regulators to protect the public. Regulators who were cowed by industry or intimidated by politicians. Regulators who were compromised by favors or prospects of industry employment. Regulators who were better at calculating the costs of oversight than the benefits. And regulators who were blinded by their ideological bias against government interference and their faith that industries could police themselves.

Via osewalrus and mdlbear.

The fear of all sums

Subprime borrowing and innumeracy

….those who fell behind on their mortgages were noticeably less numerate than those who kept up with their payments in the same overall circumstances. The least numerate fell behind about 25% of the time. For those who did best on the test, the number of payments they missed was almost 12%. A fifth of the least numerate group had been in foreclosure, but only 7% of those who were more numerically adept had.