Thinks 170

The dangers of decision fatigue: from The Economist. “Taking a break can boost productivity…Mental activity can result in physical exhaustion, as anyone who has spent a day in successive meetings can attest. In the middle of a business trip, nothing can seem more enticing than the solitary silence of a hotel room, with no clients to amuse or placate in sight. Breaks can also boost creativity. It is easy for the brain to develop tunnel vision when it is working hard. There are times when the mind needs to roam free.”

Meritocracy, Not Democracy, Is the Golden Ticket to Growth: by . “The price of abandoning it will be less wealth and more poverty…The surest sign that a country will be economically successful is not the health of its democracy, as some liberals like to think, or the leanness of its government, as some free-marketers imagine, but its commitment to meritocracy. Singapore is a soft authoritarian power. But it has transformed itself in a few decades from a poverty-stricken swamp into one of the world’s most prosperous countries, with a higher standard of living and a longer life expectancy than its old colonial master, because it is perhaps the world’s leading practitioner of meritocracy. The Scandinavian countries have some of the world’s largest governments and most generous welfare states. But they retain their positions at the top of international league tables of prosperity and productivity in large part because they are committed to high-quality education, good government and, beneath their communitarian veneer, competition; in other words — meritocracy.”

James Otteson: “What markets enable, then, is extensive networks of cooperation. Indeed, the networks can become so vast that it might be literally impossible to know or trace them all. Adam Smith claimed – in the eighteenth century – that an attempt to trace out all the links in even a single chain of cooperation “exceeds all computation.”” [via CafeHayek]

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Rajesh Jain

An Entrepreneur based in Mumbai, India.