1. MR points to some facts about rich people:
In the first Forbes 400 , oil was the source of 22.8 percent of the fortunes, manufacturing 15.3 percent, finance 9 percent, and technology 3 percent. By 2006 oil had fallen to 8.5 percent and manufacturing to 8.5 percent. Technology, however, had risen to 11.75 percent and finance to an extraordinary 24.5 percent.
The average net worth in 2006 of Forbes 400 members without a college degree was $5.96 billion; those with a degree averaged $3.14 billion. Four of the five richest Americans — Bill Gates, casino owner Sheldon Adelson, Oracle’s Larry Ellison, and Microsoft cofounder Paul Allen…– are college dropouts.
2. MR also points to Google’s interview questions. For instance, imagine you apply for software development and the question you are asked is this:
How many piano tuners are there in the entire world?
3. WSJ Blog points to Bernanke’s views on Great Depression.
4. Rodrik asks one economics or two?
6. Rajeev Malik says Cowboy approachshould be avoided in India. I agree.
7. BS has a nice interview of V. Thulasidas, the chairman of the merged Air India and Indian Airlines. He says:
Given the vastly higher salaries, and levels of freedom to mould organisations, I ask if Thulasidas would opt for an MBA, were he to be venturing out into the world all over again.
“No,” he says, without even blinking. For two reasons, he says. First, no other service, apart from the IAS, offers the same opportunity to work with different people in completely different work environment.
The second reason, I think, is quite ironic — Thulasidas says the limitations under which a public sector manager has to function make the job a lot more challenging.