Today marks an important milestone for AI. Remember where you were when you read this. A computer taught itself to play chess with no prior knowledge of the game other than the rules. It then beat the current world champion computer chess program. There is a story in the Guardian here. I remember when a computer program first beat Gary
Sometimes governments do the right things, even if for the wrong reasons When an Australian financial institution is Too Big Too Fail there is the implication that the federal government will step in to bail them out or facilitate a shotgun wedding (say, by indemnifying the acquiring bank) should they be at risk of collapse. This is the very definition
…or why assistance to home buyers (first or otherwise) is a bad idea. In a very civil facebook debate (they are rare, but possible) about housing affordability discussion turned to incentives for new home owners. “Surely this is the scalpel-like policy that we need?”, said my interlocutor. I argued this was a really dumb policy. The idea crops up so
The rise of businesses like Uber, Airtasker and numerous vertical market specialists has been heralded as the death of employment as we know it. Anybody on a wage is worried that this signals a race to the bottom. Will all workers in future be part of the “precariat” – dependent on short term contracts or assignments? Maybe, not so much.
You might have missed the memo, but in June 2016 the OECD committed itself “to redefine the growth narrative to put people’s well-being at the center of governments’ efforts”. The UN and OECD have undertaken much research on what makes people happy and have identified seven main factors found to support happiness: caring, freedom, generosity, honesty, health, income and good governance.
It doesn’t take an economist to work out that the reduction in Sunday penalty rates will cause an overall reduction in total wages paid even after allowing for increased employment. This will, in turn, most likely result in a net reduction in economic activity. Much has been written about the recent decision by the Fair Work Commission to reduce Sunday
As a financial analyst I am somewhat (that is, very) biased towards empiricism. I like empirical studies that prove or disprove hypotheses. Each one gives me a little bit of comfort as it removes an element of uncertainty from my universe. The Harvard Study of Adult Development is thought to be the longest study of adult life that’s ever been done. It
Are we at an inflection point in the way business is conducted? That is the premise of the Business Philosophy’s 21st Century Inflection Point. Sometimes it’s hard to imagine that the commercial world could be much different to the way it is now. Sure, maybe it could do with a little tweaking around the edges – but the foundation of
We recently had the opportunity to work with quite an impressive business. It was founded by two brothers. They have established their own manufacturing operation in china. Presently most of the sales are to Australia, but global sales are starting to take off. What we learnt was inspirational, as these two guys in their early 30s had achieved something greater
