Mockat CAT Prep
Reading Link for the Day - https://scroll.in/article/1042756/whats-the-difference-between-freebies-for-the-poor-and-business-incentives-for-the-rich
There is a lot of debate about welfare schemes and freebies, with some believing that these are populist and hurt everyone by increasing costs. The author evaluates freebies to assess if the benefits are greater than the issues (costs, making people lazy), arguing that
1) Income support for farmers help them with social protection and enhance consumption even if they may not improve the system/provide structural benefits
2) While merit-based subsidies (health, education) tend to have long-term benefits, non-merit subsidies (freebies such as cycles or sanitary napkins for school children) can also play a major role in incentivising children, especially girls, to stay in schools and should be continued.
3) Freebies such as free water, electricity are considered to make people’ lazy’ and reduce the workforce, but these should be a basic right. Additionally, freebies such as free public transport ensures safety, mobility and employment (especially for women).
4) Funds for welfare measures can come from the money earmarked for incentives such as tax cuts for the rich or corporates.
Conclusion - welfare measures cannot be considered only on the basis of their costs or efficiency, as these are basic rights which should be available to everyone.
1) Income support for farmers help them with social protection and enhance consumption even if they may not improve the system/provide structural benefits
2) While merit-based subsidies (health, education) tend to have long-term benefits, non-merit subsidies (freebies such as cycles or sanitary napkins for school children) can also play a major role in incentivising children, especially girls, to stay in schools and should be continued.
3) Freebies such as free water, electricity are considered to make people’ lazy’ and reduce the workforce, but these should be a basic right. Additionally, freebies such as free public transport ensures safety, mobility and employment (especially for women).
4) Funds for welfare measures can come from the money earmarked for incentives such as tax cuts for the rich or corporates.
Conclusion - welfare measures cannot be considered only on the basis of their costs or efficiency, as these are basic rights which should be available to everyone.
Reading Link for the Day -
https://www.washingtonpost.com/science/2022/09/25/music-taste-personality-traits/
https://www.washingtonpost.com/science/2022/09/25/music-taste-personality-traits/
News of the Day -
https://www.bbc.com/news/world-us-canada-65073812
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https://www.bbc.com/news/world-us-canada-65073812
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BBC News
Gordon Moore, Intel co-founder and creator of Moore's Law, dies aged 94
Mr Moore famously predicted that computer processing power would double every two years.
Mockat CAT Prep
Reading Link for the Day - https://www.washingtonpost.com/science/2022/09/25/music-taste-personality-traits/
There are many reasons why we prefer certain songs or genres, including our personality and the music that we listen to in our adolescent years. Other factors include
1) Musical attributes such as arousal (energy and intensity in the music), valence (spectrum of emotions) and depth (emotional and intellectual complexity)
2) Personality of the artist and its similarity to ours
3) Cognitive styles (systemic thinkers prefer intellectual or technical depth while empathetic thinkers prefer emotional depth)
Other factors include time (relaxing/energetic music), age, gender, cultural factors etc. It is also important to note that a change in musical preference does not indicate a change in our personality.
1) Musical attributes such as arousal (energy and intensity in the music), valence (spectrum of emotions) and depth (emotional and intellectual complexity)
2) Personality of the artist and its similarity to ours
3) Cognitive styles (systemic thinkers prefer intellectual or technical depth while empathetic thinkers prefer emotional depth)
Other factors include time (relaxing/energetic music), age, gender, cultural factors etc. It is also important to note that a change in musical preference does not indicate a change in our personality.
Reading Link for the Day -
https://www.bbc.com/travel/article/20230222-nalanda-the-university-that-changed-the-world
https://www.bbc.com/travel/article/20230222-nalanda-the-university-that-changed-the-world
Bbc
Nalanda: The university that changed the world
More than 500 years before Oxford University was founded, India's Nalanda University was home to nine million books and attracted 10,000 students from around the world.
News of the Day -
https://www.thehindu.com/business/Economy/explained-understanding-imf-bailouts/article66665548.ece
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https://www.thehindu.com/business/Economy/explained-understanding-imf-bailouts/article66665548.ece
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The Hindu
Explained | Understanding IMF bailouts
explains IMF bailouts, why and how they happen, how Pakistan and Sri Lanka are facing economic crisis. It also talks about the conditions imposed by the IMF for a loan
Mockat CAT Prep
Reading Link for the Day - https://www.bbc.com/travel/article/20230222-nalanda-the-university-that-changed-the-world
Reading Link for the Day -
The author describes India’s ancient Nalanda university, which was the world’s oldest known residential university. Students studied medicine (Ayurveda), logic, maths, philosophy of which maths and astronomy were the most developed (Aryabhatta, the ancient mathematician who came up with the concept of zero was supposed to have visited Nalanda). Buddhist principles were also taught in the university, under the patronage of the Hindu Gupta empire who were accepting of Buddhism. It was competitive and difficult to secure entrance.
Students and teachers from the university went across India and other Asian countries to propagate learning or Buddhism (similar to exchange programs in modern universities), and the university had a significant influence in learning across South Asia.
The university was attacked by the Huns, and the Turkish-Afghan Bakhtiyar Khilji (who saw it as competition for Islam). Today, it is a UNESCO World Heritage site.
The author describes India’s ancient Nalanda university, which was the world’s oldest known residential university. Students studied medicine (Ayurveda), logic, maths, philosophy of which maths and astronomy were the most developed (Aryabhatta, the ancient mathematician who came up with the concept of zero was supposed to have visited Nalanda). Buddhist principles were also taught in the university, under the patronage of the Hindu Gupta empire who were accepting of Buddhism. It was competitive and difficult to secure entrance.
Students and teachers from the university went across India and other Asian countries to propagate learning or Buddhism (similar to exchange programs in modern universities), and the university had a significant influence in learning across South Asia.
The university was attacked by the Huns, and the Turkish-Afghan Bakhtiyar Khilji (who saw it as competition for Islam). Today, it is a UNESCO World Heritage site.
News of the Day -
https://www.ft.com/content/9b2cb53f-e6f0-479e-bb94-a2e0c8680e88
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https://www.ft.com/content/9b2cb53f-e6f0-479e-bb94-a2e0c8680e88
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Ft
China grants billions in bailouts as Belt and Road Initiative falters
New study attempts to capture total rescue loans from world’s biggest bilateral creditor
Mockat CAT Prep
Reading Link for the Day - https://www.wired.com/story/tiktok-teenage-look-ageism/
The author quotes TikTok users who feel that Tiktokkers are openly ageist and afraid of growing old, based on
1) People consider a 29-year old TikTokker to be old
2) Filters that make us look like our teenaged self are extremely popular
3) People on Tiktok refer to those a few years older than them almost as if they are senior citizens
Reasons: Youth is valorised by most cultures, and ageism is made to sound natural and inevitable. In addition, the internet allows us to be openly harsh or hostile. Showcasing ageism as a problem is also helping companies sell consumer products.
Solutions: older people should be open about their life on TikTok, people can understand more about ageing so as not to be terrified of it.
1) People consider a 29-year old TikTokker to be old
2) Filters that make us look like our teenaged self are extremely popular
3) People on Tiktok refer to those a few years older than them almost as if they are senior citizens
Reasons: Youth is valorised by most cultures, and ageism is made to sound natural and inevitable. In addition, the internet allows us to be openly harsh or hostile. Showcasing ageism as a problem is also helping companies sell consumer products.
Solutions: older people should be open about their life on TikTok, people can understand more about ageing so as not to be terrified of it.
Reading Link for the Day -
https://fs.blog/ayn-rand-philosophy-matters/
https://fs.blog/ayn-rand-philosophy-matters/
Farnam Street
Ayn Rand on Why Philosophy Matters
Nearly four decades after her death, the writings of Ayn Rand remain controversial and divide people into two camps: love them or hate them. Her book on philosophy is stands out as balanced, and provides timeless insights. Here are her thoughts on the value…
News of the Day -
https://economictimes.indiatimes.com/news/economy/foreign-trade/indian-exports-crossed-record-750-bn-mark-piyush-goyal/articleshow/99063914.cms
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https://economictimes.indiatimes.com/news/economy/foreign-trade/indian-exports-crossed-record-750-bn-mark-piyush-goyal/articleshow/99063914.cms
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The Economic Times
Indian exports crossed record $750 bn-mark: Piyush Goyal
Indian goods and services exports have crossed the USD 750 bn-mark for the first time, news agency ANI reported Union Commerce & Industry Minister Piyush Goyal as saying at an event on Tuesday. “Theres obviously much faster growth in services, but growth…
Mockat CAT Prep
Reading Link for the Day - https://fs.blog/ayn-rand-philosophy-matters/
While Ayn Rand’s work is controversial and polemic (people either love or hate her writing), the author recommends her philosophical work which is about metaphysics (the nature of reality). The key takeaways are:
1. Everyone needs philosophy to help develop our values and avoid manipulation - defining it by a logical process of thought instead of subconsciously accumulating a lot of ideas from around us which will lead to self-doubt. She recommends thinking by first principles to be certain of everything.
2. Reflection (thinking before action) is a responsibility, instead of letting our emotions dictate how we respond. She also states that we need an active mind to validate ideas critically instead of accepting others’ opinions.
The author does feel that her philosophy does not live up to her own ideals.
1. Everyone needs philosophy to help develop our values and avoid manipulation - defining it by a logical process of thought instead of subconsciously accumulating a lot of ideas from around us which will lead to self-doubt. She recommends thinking by first principles to be certain of everything.
2. Reflection (thinking before action) is a responsibility, instead of letting our emotions dictate how we respond. She also states that we need an active mind to validate ideas critically instead of accepting others’ opinions.
The author does feel that her philosophy does not live up to her own ideals.
Reading Link for the Day -
https://www.prospectmagazine.co.uk/magazine/hydrogen-investment-net-zero-energy
https://www.prospectmagazine.co.uk/magazine/hydrogen-investment-net-zero-energy
Prospect Magazine
How justified is the hydrogen hype? What investors need to know - Prospect Magazine
Shares in companies developing hydrogen technologies have taken off recently, due to zero-carbon ambitions. But producing the clean fuel can be tricky and inefficient
News of the Day -
https://economictimes.indiatimes.com/news/india/break-up-indias-biggest-firms-says-former-rbi-deputy-governor-viral-acharya/articleshow/99104787.cms
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https://economictimes.indiatimes.com/news/india/break-up-indias-biggest-firms-says-former-rbi-deputy-governor-viral-acharya/articleshow/99104787.cms
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The Economic Times
Break up India’s biggest conglomerate firms, says former RBI deputy governor Viral Acharya
The “Big 5” consisting of Reliance Group, Tata Group, Aditya Birla Group, Adani Group and Bharti Telecom have grown at the expense of smaller local firms, said Viral Acharya who was Reserve Bank of India deputy governor between 2017 and 2019. At the same…
Mockat CAT Prep
Reading Link for the Day - https://www.prospectmagazine.co.uk/magazine/hydrogen-investment-net-zero-energy
Hydrogen is one of the most popular investments as the world seeks to get to zero carbon, as it is a clean fuel (no CO2 emitted) and can also be used as fuel for heavy vehicles, trains and ships (which cannot use batteries as they would be too heavy).
From a 30,000 feet view (overall big picture), it is a very attractive investment, but there may be practical challenges in extracting pure hydrogen to use as fuel (it requires a lot of electricity to split water into hydrogen and oxygen; and the process is inefficient as a lot of hydrogen is lost; it is small and may leak out of current pipes). However, the author feels that if political will and money are present, science can triumph. Hydrogen, therefore, is not as good or as impractical as people state.
From a 30,000 feet view (overall big picture), it is a very attractive investment, but there may be practical challenges in extracting pure hydrogen to use as fuel (it requires a lot of electricity to split water into hydrogen and oxygen; and the process is inefficient as a lot of hydrogen is lost; it is small and may leak out of current pipes). However, the author feels that if political will and money are present, science can triumph. Hydrogen, therefore, is not as good or as impractical as people state.
Mockat CAT Prep
Reading Link for the Day - https://theconversation.com/biases-in-algorithms-hurt-those-looking-for-information-on-health-140616
Health video recommendations on popular online platforms like Youtube and social media can serve to increase pre-existing disparities in health literacy (most people are unable to understand health issues, prescriptions, hospital documents).
Tech algorithms focus on engagement and popularity. As a result, videos with more valid sources get recommended to users with higher health literacy and videos with questionable content get recommended to users with lower literacy (these are simpler and easier to understand but may not be medically valid). This could especially negatively affect minority communities and make the gap more severe for those without proper education and resources for chronic care. People may end up getting recommendations of myths or conspiracy theories.
Solution: Recommendation algorithm coders should find ways to reduce algorithmic biases by incorporating critical input from health professionals, patients and users. This has been successfully done in other areas (eg facial recognition software reduced gender and skin type disparities once it was pointed out).
Tech algorithms focus on engagement and popularity. As a result, videos with more valid sources get recommended to users with higher health literacy and videos with questionable content get recommended to users with lower literacy (these are simpler and easier to understand but may not be medically valid). This could especially negatively affect minority communities and make the gap more severe for those without proper education and resources for chronic care. People may end up getting recommendations of myths or conspiracy theories.
Solution: Recommendation algorithm coders should find ways to reduce algorithmic biases by incorporating critical input from health professionals, patients and users. This has been successfully done in other areas (eg facial recognition software reduced gender and skin type disparities once it was pointed out).
News of the Day -
https://economictimes.indiatimes.com/nri/latest-updates/indian-origin-software-and-robotics-engineer-amit-kshatriya-to-head-nasas-moon-to-mars-programme/articleshow/99141698.cms
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https://economictimes.indiatimes.com/nri/latest-updates/indian-origin-software-and-robotics-engineer-amit-kshatriya-to-head-nasas-moon-to-mars-programme/articleshow/99141698.cms
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The Economic Times
Indian-origin software and robotics engineer Amit Kshatriya to head NASA's Moon to Mars Programme
NASA has appointed Amit Kshatriya, an Indian-American software and robotics engineer, as the head of its newly-established Moon to Mars Programme. Kshatriya will be responsible for programme planning and implementation for human missions to the Moon and Mars…
Reading Link for the Day -
https://www.theatlantic.com/newsletters/archive/2022/10/uk-economy-disaster-degrowth-brexit/671847/
https://www.theatlantic.com/newsletters/archive/2022/10/uk-economy-disaster-degrowth-brexit/671847/
The Atlantic
How the U.K. Became One of the Poorest Countries in Western Europe
Britain chose finance over industry, austerity over investment, and a closed economy over openness to the world.