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This Day in Econ History
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As Nassim Taleb instructed, we should not be fooled by randomness. If you see six red results in a row at a roulette table, do not conclude the game is rigged. If you flip a coin, and it is tails six consecutive times, the contest is not necessarily rigged.
Head of Global Currency Strategy at Brown Brothers Harriman. |
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Australia has vastly more material resources than its Pacific neighbours. It represents 94.5 percent of the region’s GDP, 98 percent of defence and security spending and contributes 60 percent of total development assistance. Based on a simple comparison of size and material resources, it has been claimed that Australia has ‘a natural right to lead’ in the Pacific and is effectively a ‘great power’ or a ‘regional
hegemon’.
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Recently, technical and operational specifications of the Scorpene class submarine that India is buying from DCNS — a naval shipbuilder two-thirds owned by the French government — were leaked to The Australian newspaper. The incident follows the Modi administration’s launch of an AU$150 billion (US$113 billion) program to modernise the armed forces. It is a timely reminder of a basic flaw in India’s weapons acquisition
and digitisation: a lack of expertise in cyber security and data encryption.
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The recently concluded 28th and 29th ASEAN Summits in Vientiane, Laos again saw ASEAN give a muted response to the more contentious issues facing member states. This is largely a result of conflicting national interests between members in the absence of a cohesive framework to deal with such issues. Read More
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| Who knows what
technology will emerge in the next five years, let alone 20. Yet the education we provide our children now is supposed to last for decades. We cannot train them for jobs that do not even exist yet, but we can provide them with the minds and tools they'll need to adapt to our ever-changing set of circumstances. - Jim Hunt | |
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