Atanu Dey: “The fundamentals of economics is fun to learn. They are also somewhat counter-intuitive, until you internalize them and then it becomes part of your intuition. Friedrich von Hayek held that “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.” Social engineering and economic planning fails precisely when social scientists, instead of being students, presume to be able to intervene into things that are not amenable to design. The worst offenders in this regard are ignorant politicians. They push the country into needless poverty…Unfortunately for India, the politicians are incapable of learning. Their ignorance is matched by their hubris.”
Francisco Arceo writes about lessons from his failed startup: “Being a founder was a very humbling and painful experience, which made me a more empathetic and thoughtful person, and also a much better engineer. I now understand how truly hard it is to build something from scratch, which is why I’m much less likely to criticize founders who are trying to build things (though I’d say often the harsh feedback is the most constructive). If I’m to be honest, I probably would have preferred to stay at Goldman a little longer as I think I had more to learn there, but I’ve made my peace with it.”
WSJ: “Making alumni feel as if they are still part of the fold can lead to a host of benefits for companies, including rehires of top performers, brand advocacy, new business development, new-employee referrals and retained access to intellectual capital. But turning former employees into loyal alumni isn’t as simple as launching a job board, networking event or a Facebook/LinkedIn group. To reap the benefits of an alumni network, companies must build a culture where alumni are celebrated, relationships with them are encouraged, and departing workers are treated with respect and gratitude, not anger or ambivalence. An alumni network without a supporting culture can backfire, leading to fewer benefits for companies—perhaps even some harm. Here are some ways to build a healthy alumni network.”
Peter Boettke: “Not only does the price system economize on the information economic decision makers must process, but the entire market system generates a level of social intelligence that no one mind or group of minds could approximate.” [via CafeHayek]
