In Brief: Graduation Season

May 27, 2009 § 3 Comments

May is the start of graduation season in the United States. I would like to extend my congratulations to the new college & high school graduates and their families. Best of luck in your future endeavors and remember to make good use of your talent and creativity.

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In Brief: Making Sense

May 25, 2009 § 6 Comments

One thing I have never been able to understand is the public burning of national flags. It is absolutely fine to be against a government or a country’s policies, but can people burn something else instead? A national flag is more than just a national symbol; it represents the blood and soul of those who died for their country. These people deserve our praise and not our scorn. Put the blame where they are due.

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Technology: Virtual Samurai

May 20, 2009 § 2 Comments

Watching this makes me wanting to chop some wood.

Credits: NintenDaan

Econ Sense: Equality vs. Efficiency, the Case of Universal Health Care

May 14, 2009 § 14 Comments

One of the common mistakes people often make is to equate equality to efficiency. While equality can certainly enhance social efficiency, it can also lead to greater inefficiency. Confused? Perhaps a few examples will help you understand this concept a little bit better.

The first example is a simple one. A box of chocolates is to be shared by two children. The box contains 10 milk chocolates; both children like milk chocolates. Each child is given 5 chocolates. Well, it doesn’t take a rocket scientist to realize that the allocation of the chocolates is both fair and efficient.

The second example is bit more complicated; the numbers in this example have been normalized for greater clarity. There was a fruit sale at the local farmers market; my sister was able to buy 8 bananas and 4 mangoes. The bananas cost $1 each and the mangoes cost $5 each. My sister has two daughters, Julie and Christine. Julie loves to eat mangoes, while Christine loves to eat bananas. My sister doesn’t eat fruits.

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