Who put Iran in a corner?

Notice how incredibly quiet Iran has been in this whole flotilla fiasco? Surprising, considering its history of rhetoric and hysterics towards Israel, no?

As far as popularity is concerned, Turkey has scored major points with its Muslim allies in the region, and is undoubtedly reasserting its presence in the region.

Iran is getting edged out for three reasons.  One, its domestic politics is no doubt still in turmoil from last year’s mess.

Two, it doesn’t have the economic resources nor power to compete with Turkey.

And three, its relations with its neighbours is nowhere as good as as Turkey’s, making it difficult to make demands on a rival that’s more or less tuned it out.

The flotilla incident and Turkey’s role have catapulted its status in the Muslim world as the defender of Muslim rights. This most probably includes members of Hamas, whom Iran has been spending millions on in an effort to buy their support and loyalty.

Which other Muslim country has enough credibility, power and self-confidence to do what Turkey did? It promised to dispatch the flotilla and it went through with its promise.

The icing on the cake came when prime minister Recep Tayyip Erdogan issued a very clear ultimatum to the Israeli government: free every single Turkish citizen, including those who assaulted your soldiers, otherwise our relations will suffer. Within three hours, Binyamin Netanyahu had accepted. Had this been an Arab country, including those that Israel has relations with, such as Jordan and Egypt, the Israelis would probably have stuck to their guns. The same for Iran.

But not Turkey. There is a new player in town and Israel takes it very seriously. Unlike Iran, Turkey has a powerful economy. Its GDP is the 18th largest in the world – one place above Iran. This is a major achievement for a country which is not a gas and oil exporter. It sits on the border of Europe and its relations with the EU and the US are astronomically better than those of its Iranian neighbour. Its power is expanding in the Caucasus, and relations are improving with its old foe and rival, Greece.

It’s the same in the Middle East, where Turkey, unlike Iran, enjoys good relations with Sunni-ruled countries such as Saudi Arabia, Jordan and Egypt, as well as among Iran’s friends Iraq and Syria. If current trends continue, Turkey could do what the Islamic Republic of Iran has been trying to do for the last 32 years: become the most powerful and credible political and military force in the Islamic world.

There’s a lot of political manipulation from Turkey here. The fact that the ship pressed on at all despite repeated calls to abandon course makes it a willful participant in this conflict.  But orchestrated or not, Turkey made the point it wanted to, based on many years of purposeful economic and political maneuvering.

Now it’s payoff time.

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Thinking our way through Utopia

Some philosophical musings for the weekend, on the idea of Utopia, and the mistakes we make fumbling towards the light.

Here is an example. A Chinese social critic in the 1930s might have observed tenant peasant farming in North China; he/she might have argued that the system was exploitative, unfair, and inefficient (three different social values); and he/she might have argued that the collective farm was a superior alternative, being more democratic, fair, and efficient.  The collective farm might have been offered as a utopian alternative to tenant farming.

So the collective farm is likely not to be a utopian solution to China’s rural problems in 1930.  And in fact, subsequent history confirms this conclusion; the Great Leap Forward famine was the consequence of many of these institutional failures.

And here lies the risk behind our overwhemling urge to do good, or better in the world.  Experiences have shown us the very word “utopia” signals something distinctly opposite most of the time – it gives us dystopia.

The idea of emancipatory agency: that it is possible for us humans to restructure our social institutions in a direction that fits our fundamental values better than the present institutions do.  And it is worth underlining how important, but also how risky, this effort is: important, because it gives a basis for thinking that we can create a better world; and risky, because many of the worst historical experiences of modern memory came from “utopian” efforts to redefine society.

So, Utopia, better ingested in small dosages, and slowly?

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Rearranging deck chairs on a sinking Titanic?

Kishore Mahbubani, Dean of Singapore’s Lee Kwan Yew School of International Affairs, has written a stern piece on how Europe just “does not get it” in three strategic areas.

The greatest strategic challenge to Europe is the Islamic one. It exists within the body politic of many European societies. And the fastest-rising Islamic demographic is on Europe’s doorstep. Europe should, therefore, see it in its long-term interest to defuse Islamic anger. Instead, it has shown moral cowardice on the Israel-Palestine issue, refusing even to admit that an unbalanced American policy will hurt European interests more than American interests. No major European leader has the moral courage to speak truth to power on this issue.

Europe’s second error is to ignore its No. 1 strategic opportunity: Asia. [Asians] do expect Europeans to treat them with respect, not cultural condescension. This is another thing Europeans do not get. The protests in European capitals before the Beijing Olympics, the efforts to dictate human-rights clauses in the India-E.U. cooperation agreement and the obsession with Burma show both a lack of sensitivity and of strategic thinking. If Europe does not act fast, it will miss the boat on Asia.

The third strategic error is to remain obsessed with the transatlantic relationship. It is difficult to capture in a few words the strange mix of European attitudes towards America: admiration and resentment of American hyperpower, respect and condescension towards U.S. culture, dependence on and discomfort with American leadership. At the core of this is a deep European belief that culture is destiny and that the common Judeo-Christian heritage and common Enlightenment values will ensure an eternal commonality of interests. America will always put Europe first because Europe, not Asia, exists in American hearts.

Over the long run, geography — when combined with economic shifts of power — determines destiny. America’s interests in Asia are rising while its interests in Europe are declining. A growing Hispanic population will make Latin America more important. This is why the time has come for Europeans to think the unthinkable: the “natural” transatlantic partnership may someday come to an end.

The question now begs, is the perceived decline in European power in the global geo-political sphere a result of actual power decline, or simply a lack of nuance and strategic foresight when it comes to soft power management?

As an example of our limited soft power, consider that when I ask people around the world, what ‘Europe’ means for them, I am always surprised how little they mention social democracy, or human rights, or even ‘the good life’. Overwhelmingly, the most common response is a memory of European colonial rule, and an abiding sense of our satisfied self-superiority. While Europeans mark history by 1918, 1945, and 1989, the rest of the world still remembers 1842, 1857, and 1884, and always will. Many opportunities have come and gone to draw a line under the past, yet many see Europe as a closed fortress offering few opportunities for integration or innovation.

Will it come to this?

Are we really faced with an inter-generational struggle in resources for the coming decades?

The politics of the next decade will be dominated by a battle over public spending and taxes between the generations. Young people will realise that different categories of public spending are in direct conflict — if they want more spending on schools, universities and environmental improvements they must vote for cuts in health and pensions.

Schools and universities are more important for a society’s future than pensions. Yet every democracy around the world has made the opposite judgment. While many politicians claim to be obsessed with education — recall Tony Blair’s three priorities were “education, education and education” — in reality they support health and pensions to the point of national bankruptcy, while squeezing universities. The same applies to the many fiscal benefits heaped on pensioners over the years. Is it, for example, better for society to offer free bus travel to wealthy 80-year olds rather than students or impoverished youngsters looking for their first job?

Or will it find some kind of resolution not unlike the compromise made between developed and emerging worlds?

Does the increasing first-world sense of austerity give the rest of the world room to grow into middle-class status? If so, we need to find a few Saudi Arabias worth of oil to fuel their ensuing energy needs, and that seems unlikely. Or will we all meet in the middle somewhere, with declining resource requirements increasingly hard-wired into our makeup, the way it is already. happening already in Europe and elsewhere?

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Brain drain along linguistic lines?

Evidence seems to show that the “brain drain” effect is strong along linguistic lines, so that the income distribution along the top income brackets for a few of the largest English-speaking countries move in tandem with each other.

I wonder if the same can be found for Spanish-speaking countries in Latin America?

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Pre-weekend links: Things politicians say

Europe must focus on what works
FT– Chris Patten weighs in on the future of knowledge economy, security policy and enlargement in Europe.
Euro exit is ludicrous idea for any country: Hannes Androsch
preview.bloomberg.com– We must be prepared to bite the bullet with regard to pensions and social services, something our governments have shown little appetite for to date, says Austria’s former finance minister.
Vladimir Putin, transaction cost economist
streetwiseprofessor.com– Putin is advocating a system in which the state plays an important role in setting and administering prices, and governing contractual relationships between big firms. Coolidge once said “the business of America is business.”  In this case, the politics of Russia is business.

Consumer adverts for pharmaceuticals: Impact on prices and sales
Voxeu– As a result of changes in regulation in the late 1990s, spending on direct-to-consumer advertising of pharmaceutical drugs in the US leapt from $150 million in 1993 to $4.24 billion in 2005.
Digital self-publishing shakes up traditional book industry
WSJ– Much as blogs have bitten into the news business and YouTube has challenged television, digital self-publishing is creating a powerful new niche in books that’s threatening the traditional industry.
How much the average American spends on entertainment
visualeconomics.com– On average, Americans devotes 5.6% of their budgets to entertainment. The biggest chunk? Audio and visual equipment and services.
The counter-revolution of development economics: Hayek vs. Duflo
aidwatchers.com– Experimentation, for Hayek as well as Duflo, is the chief instrument of social change. Making experimentation work for development requires institutional feedback mechanisms which can fit together newly-discovered ways of doing things in mutually reinforcing ways.

At the heart of the crash
nybooks.com– The current finance reform legislation before Congress may well turn out to be tame. The provisions passed will probably provide for only a minor breakup of the banks, and doesn’t adequately address the conflicts of interest and market-rigging that have discredited the ratings agencies.
The anglosphere and high-income concentration
worthwhile.typepad.com– Research shows strikingly similar patterns in high-end income concentration in five English-speaking countries. One story that suggests itself immediately is that of the ‘brain drain’.
The future of America’s working class
newgeography.com– The potential yobization of the American working class represents far more than a political issue. It threatens the very essence of what has made the U.S. unique and different from its mother country.
Should we retire later
crookedtimber.org– Leaving the pension age unchanged when life expectancy changes pushes people to work harder since their required savings increase. So, it makes sense for public policy to encourage later retirement, and discourage ultra-long working hours.

Morning links: What if we are all middle class?


The world goes middle class, vs. the case for less
Infectious Greed– Does the increasing first-world sense of austerity give the rest of the world room to grow into middle-class status? Or will we all meet in the middle somewhere, with declining resource requirements increasingly hard-wired into our makeup.
As governments borrow, many people save
New York Times– The association of more public dissaving with more private saving continues to be confirmed with data from recent quarters.
Misguided compassion hurts the poor
city-journal.org– The more impoverished the country, the greater the need for foreign aid; the greater the foreign aid, the more privileged the elite; the more privileged the elite, the greater the adherence to policies that resulted in poverty.

Spillonomics – Underestimating risk
NY Times– For all the criticism BP executives may deserve, they are far from the only people to struggle with such low-probability, high-cost events. Nearly everyone does.
World military spending soars in spite of recession
news.bbc.co.uk– Although military spending wasn’t usually a major part of the economic stimulus packages, it wasn’t cut either.
Switzerland ratchets up tax relief as rest of Europe fights hefty deficits
preview.bloomberg.com– Tax breaks under an “auxiliary company regime” have helped Geneva attract oil and commodity trading companies. One third of the world’s petroleum is traded through the city.

Why Europe is responding so timidly to its economic crisis
slate.com– A whiff of inflation and Americans think about Jimmy Carter. In Germany, when there’s a hint of a whiff of a trace of inflation, they think about Hitler.
Iran selling 45 billion euros of reserves for dollars
financialpost.com– Iran’s shift out of euros has been prompted by the single currency’s decline. Other central banks, including those of the Persian Gulf states, also are selling their euro.
When does large-scale public ownership work?
marginalrevolution.com– Very often governmental prestige stifles innovation and implies a series of more general insider, elitist, and sometimes authoritarian attitudes.
Why our poverty measure misleads
Real Clear Markets– People get richer but “poverty” stays stuck. The new “supplemental measure” raises questions about whether the statistic is tailored to favor a political agenda.

WikiLeaks and Julian Paul Assange
newyorker.com– WikiLeaks is not quite an organization; it is better described as a media insurgency.
How links hurt reading
cjr.org– Reading on the Web takes more self-discipline than it does offline. How many browser tabs do you have open right now?
Life in a glass house
tnr.com– Self-invasions of privacy on the Internet now compete with “bureaucracy with its documents” and “the press with its reporters” for a place on Kundera’s list of the institutionalization.
How butterfly wings can stop counterfeit currency
csmonitor.com– Scientists have reproduced the brilliant optical effect of tropical butterfly wings. The advance could lower bank fraud by leading to improved security in the printing of paper money.
Selling free food
reason.com– The sense of adventure and discovery that comes with trying to make weeds palatable spreads even to those working with more traditional ingredients. Producers feel empowered to innovate. Consumers offer direct financial support for even their most radical R&D efforts.

Shifting sands within Middle Eastern alliance system

A while ago, I wrote about the mood changes in the Middle East, specifically the re-emergence of Turkey as a regional power.  Now in face of drama between Gaza and Israel, Americans and Europeans woke up to an angry Turkey.  Both are taken aback, albeit in different ways.

Americans suddenly realized their strategic partnership with Turkey is rapidly eroded by a more self-serving, assertive, and ambitious Turkish state.  Amazing what can happen in less than a decade while you are busy digging yourself out of two messy wars, no?

It is hard to admit, but after six decades of strategic cooperation, Turkey and the United States are becoming strategic competitors — especially in the Middle East. This is the logical result of profound shifts in Turkish foreign and domestic politics and changes in the international system.

Monday’s events might prove a wake-up call for the U.S. foreign-policy establishment. Among the small group of Turkey watchers inside the Beltway, nostalgia rules the day. U.S. officialdom yearns to return to a brief moment in history when Washington and Ankara’s security interests were aligned, due to the shared threat posed by the Soviet Union. Returning to the halcyon days of the U.S.-Turkish relationship, however, is increasingly untenable.

The stark reality is that while Turkey and the United States are not enemies in the Middle East, they are fast becoming competitors. Whereas the United States seeks to remain the predominant power in the region and, as such, wants to maintain a political order that makes it easier for Washington to achieve its goals, Turkey clearly sees things differently. The Turks are willing to bend the regional rules of the game to serve Ankara’s own interests. If the resulting policies serve U.S. goals at the same time, good. If not, so be it.

Europe, on the other hand, has little in common with the America’s strategic concerns in the region when it comes to its Islamic cousin.  Its point of reference is driven solely by its own narrow experience with the somewhat backwards (real or perceived) Turkish diaspora in Europe, and memories of Turkey’s desperate attempt to enter the Eurozone a few years ago.

Thus, despite its own complete and utter distain for Israel’s human rights violations (as a side note, Sweden’s most successfully and living crime writer Henning Mankell was on that ship, and mused alarmingly on the possibility of an Israeli atomic bomb), Europe is nonetheless horrified by Turkey’s more, visceral, reaction.

Writing for a Brussels audience, though, another more immediate thought occurs to me. This is yet another piece of bad news for those (like this newspaper) who believe that the EU’s ambition should be the admission of Turkey to the EU. True, the EU consensus is critical of Israel’s actions. And so the EU consensus, logically, is not a million miles away from the angry reaction of the Turkish government to the killing of activists aboard the Gaza flotilla. But emotionally, as a gut instinct, I have a feeling that lots of Europeans woke this morning to pictures of Turkish demonstrators in the streets of Ankara and Istanbul, chanting “death to Israel” and “God is Great”, and thought: whoa, that really does not look like a European country.

Private savings and public dissavings

Are people saving more to make up for government budget shortfalls?  There’s evidence to support that hypothesis.

Data from the most savings-obsessed country also supports that. It would make sense if you think about it – if you expect the government to cut back on everything from mortgage subsidies and employment benefits, to raising retirement age, healthcare co-pays and your children’s tuition fees, it would make a lot of sense to save.

And yes, all the aforementioned points are in hot debate, in preparation for the election next week in clogs country.

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Criticism from inside the EU

Harsh criticisms over this non-optimal currency zone is now emerging from within the EU.

Here, president of the Czech Republic talks about the conflict that many Eastern European countries faced after the fall of communism: the need for closer integration with the west, in this case, western Europe, while shying away from the statist aspirations spear-headed by France and Germany that only reminded them days of Soviet rule.

People like me understood very early that the idea of a European single currency is a dangerous project which will either bring big problems or lead to the undemocratic centralization of Europe. My position was clear: With all my reservations, we had to apply for EU membership, but at the same time we had to fight against projects such as the euro.

His criticism separated the idea of European cooperation, from the euro project itself, which for all intents and purposes, has failed.  Klaus the economist says:

The huge amount of money that Greece will receive can be divided by the number of the euro-zone inhabitants, and each person can calculate his or her own “contribution.” However, the “opportunity” costs arising from the loss of a potentially higher growth rate, which is much more difficult for a non-economist to imagine, will be far more painful. I do not doubt that for political reasons this price will be paid and that the euro-zone inhabitants will never find out just how much the euro truly cost them.

Unsurprisingly, as the leader of a country that’s suffered dearly in the hands of communism, Klaus the politician minces no words in his critique of opaque bureaucracy centered in Brussels.

The recent dealings in EU headquarters in Brussels—literally behind closed doors—about the aid package for Greece demonstrated that there is no democracy there. The German-French tandem made the decision on behalf of the rest of the euro-zone countries, and I am afraid this will continue.

Not everyone heeds to this view, of course.  As late as March, many eastern and central European states still aspire to join the euro party, many already pegging their own small currencies to the euro.

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Morning links: Mixed blessing, beware of WC predictions, for love and money


Indian air safety: Mangalore crash shows systemic faults
time.com– Analysts have long warned that the sector’s phenomenal growth masks a laundry list of safety violations: inadequate infrastructure, poorly trained and overworked personnel, and insufficient disaster preparedness.
Wind power losing its punch
Dallas News– The high cost of building wind farms and transmitting their electricity to population centers coupled with a reduced price advantage has slowed the growth of the industry nationwide.
How Dell provides technical support through Twitter
labnol.org– Dell and Bank of America are using Service Cloud, a web-based application from Salesforce.com, that allows reps to answer Twitter based customer support requests in seconds.
Time to short Apple stock?
thedailybeast.com– Surely Jobs will one day tire of wielding his charismatic authority as CEO of Apple. And there is no woman or man alive who could fill that man’s turtleneck.
Balkanizing the web
mondaynote.com– The very absurdity of the global digital system is revealing itself. It created all the instruments for global access and, then, turned around and arbitrarily restricted its commercial use, paving the way for piracy.

The west re-examines the rat race
FT– While taking a more relaxed attitude towards the pursuit of wealth may make sense as a personal philosophy, it is an uncertain guide to public policy. Adjusting to a stagnant national income can be a painful process, as many European countries may soon discover.
Why the optimists are wrong about the eurozone
eurointelligence.com– Governments have chosen to chase speculators and to impress each other with austerity packages. They are only contributing further to the eurozone’s increasingly probable though still distant disintegration.
A mixed blessing
The Economist– The biggest worry for European business is not so much the decline of the euro itself but rather what it says about the European economy. The introduction of the single market and the single currency were supposed to spark a glorious period of innovation and productivity growth.

Beware Wall Street’s World Cup predictions
time.com– The migration of players and coaches since the 1990s has profoundly altered the global balance of power in the game.
Chile sees an opportunity to rise from the rubble and prevail
latimes.com– The country that last played the World Cup 12 years ago looks to Humberto Suazo, who led his team to victory hours after February’s earthquake. History hints that more triumphs could be on the horizon.
Fraudsters limber up for World Cup themed scams
news.hostexploit.com– FIFA lottery, prize draw or competition scams are likely to abound. All represent types of advanced fee fraud where fraudsters attempt to trick people into paying “administrative fees” supposedly needed to secure non-existent World Cup tickets or cash prizes.

Beijing’s underground city


Constructed by Chairman Mao in 1969, a second underground Beijing, should a nuclear war kick off.  Luckily nobody pushed the button, and “second city” nowadays lies in ruins.

More pictures here.

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Euro malaise continues: politician down, businesses worried, and rat race re-assessed

While Horst Köhler’s resignation cannot be directly attributed to the euro crisis, it certainly epitomizes the clash between the post-war political configuration in Europe and the increasingly impatient Germany.

In the past, Germany has always provided the passive sheet-anchor stability that allowed Europe to work. Occasionally a Schmidt or a Kohl would find partners and a surge of European integration would take place. But now Germany has no idea of what to do next. It will not admit that its economic weltanschauung, based on relentless exports and damped-down internal demand, is now part of the European and world crisis of capitalism.

The new Germany would like to behave as a normal nation and certainly has national security on its mind.  Both domestic and European-wide politics have yet to catch up with it, even when the question of military interest is framed within the scope of expanding and protecting its economic interest.

Köhler made the point that German military capability was relevant to German interests, including German economic interests. As the world’s second biggest exporter after China, Germany has a self-evident interest in keeping the world as open as possible for the free flow of trade and commerce, and to help defeat the growing scourge of piracy. This is so worrying Nato policymakers that an entire session at the Nato parliamentary assembly’s spring session this weekend in Riga was devoted to the question of how to ensure peace and free traffic on the high seas.

Some political and business leaders are quietly applauding the continual slide of the euro as one of the tools to stimulate exports in the region, others argue that a weak euro do more harm than good in eroding business confidence in the region, which may prove to be the worst legacy resulting from this ongoing fiasco.

The biggest worry for European business, however, is not so much the decline of the euro itself but rather what it says about the European economy. European governments will have to reduce public spending dramatically to allay the market’s fears. Spain has already announced that it is cutting public-sector wages by 7% and Greece by 16%. This will inevitably remove spending power from the European economy and so dent its short-term prospects.

… The introduction of the single market and the single currency were supposed to spark a glorious period of innovation and productivity growth. This has not happened. The European economy remains dependent on long-established corporate champions such as Daimler and on public-sector jobs. The old continent has dismally failed to create local equivalents of America’s Microsoft and Google.

The FT has an interesting piece that questions the impact of fiscal austerity on a continent that, for the past few decades, consistently prioritized lifestyle and the ubiquitous work-life balance ahead of economic growth.

Tuesday morning links: Digital virgins, lost generation, brains on endorsements

European Commission targets ‘digital virgins’
blogs.wsj.com– Europe’s broadband penetration rate is still only 25%, 30% of Europeans have never used the Web, and only 1% of Europeans have ever used a fiberoptic connection.
Why we shouldn’t subsidize construction
Reuters– The main way that Spaniards have become rich in recent years is by sitting back and watching the value of their real estate grow exponentially.
Gary Vanyerchuk’s wine and social-media empire
newyorker.com– A relationship with Gary V means an ironclad guarantee that he’ll reply to your e-mail within four months, with at least a “thnx” or a “mwaa!”
Luxury shopping is making a comeback
slate.com– Just in time for the premiere of Sex and the City 2, there are signs that the orgy of luxury shopping that made the latter years of the credit bubble so much fun are back.

The electoral consequences of large fiscal adjustments
Voxeu– It is possible for fiscally responsible governments to engage in large fiscal adjustments and survive politically.
Two million idle Italian youngsters run risk of becoming ‘lost generation’
The Guardian– On the day Rome launched a desperate package of cuts to trim its debt and avoid the meltdown suffered by neighbour Greece, figures showed that two million young Italians are now drifting, neither studying nor working.
Spain is trapped in a ‘perverse spiral’ as wage cuts deepen the crisis
telegraph.co.uk– Spain’s unemployment was already 20.5pc even before this latest dose of shock therapy. There are 4.6m people without work. Dole payments alone account for half the budget deficit.

Scientist infects himself with computer virus
news.cnet.com– A senior research fellow in the U.K. says he has become the first person in the world to be infected by a computer virus.
People with Asperger’s less likely to see purpose behind the events in their lives
scientificamerican.com– Why do we often attribute events in our lives to a higher power or supernatural force? Some psychologists believe this kind of thinking, called teleological thinking, is a byproduct of social cognition.
Who needs time zones?
tnr.com– One economic study on television schedules suggests that our sleeping patterns are affected far more by our need to synch up with other time zones than by when the sun rises and sets.
Celebrity product endorsements on the brain
miller-mccune.com– Brain-scan research suggests celebrity faces evoke specific happy memories, and those positive feelings rub off on the products they endorse.

Why England will win big before reverting to type and losing on penalties
football.fanhouse.co.uk– England will probably score first: in big games in World Cups they get almost all their goals in the first half, after which they typically recreate the retreat from Dunkirk.
foreignpolicy.com– How caged animals became a tool of statecraft.
Worker suicides have electronics maker uneasy in China
spiegel.de– Whether the sheer magnitude of the factory overwhelms the workers’ psyches is not a question Foxconn managers are prepared to answer. Size, after all, guarantees low overhead and high profits.

Morning links: Matters of the brain

The web shatters focus, rewires brains
Wired– Brain activity of the experienced surfers was far more extensive than that of the newbies, particularly in areas of the prefrontal cortex associated with problem-solving and decisionmaking.
Alzheimer’s prevention strategies remain an elusive challenge
scientificamerican.com– Research advances in Alzheimer’s has arrived not in the form of new drugs but in technologies that track the underlying biology of the disease before the first symptoms appear.
Scientists prove even the thought of money spoils enjoyment
physorg.com– Subjects who were wealthier had a self-assessed lower level of savoring ability, and this undermined the positive effects of money on their happiness, although they were overall slightly happier than the less well-off subjects.

Venture capitalists do it. Why shouldn’t philanthropists do it, too?
O’Reilly Radar– Entrepreneurs are most likely to help a field move forward if they build on the knowledge and the mistakes of the past rather than tripping down the well-trodden road.
Googling the book settlement
american.com– Clashes between competing visions of the good are more compelling than humdrum stories of good versus evil. This is no different.
The new investigators
cjr.org– Many of the new nonprofit centers are housed at universities, so the reporting could resonate and influence those most directly affected by the issue.
Music’s new entrepreneurs
forbes.com– From videogames to cookbooks, rockers are experimenting with ways to connect with their fans’ hearts and wallets.

Emigration up, birth rate down: Graying Germany contemplates demographic time bomb
spiegel.de– Unfavourable demographic shift is no news to Germans, although the net emigration trend cannot be too encouraging.
We’re all Swedes now
foreignpolicy.com– The Swedes themselves no longer believe in a Swedish model, or, when they do, it’s very different from the heavily regulated “people’s home” of myth.
Banks covertly financing Italy’s deficit
business.financialpost.com– Covert financing of the government’s deficit by Italian banks reinforces the solvency fears currently surrounding Italy, according to a new report from Lombard Street Research.
The economics of immigration are not what you think
ndn.org– Studies show that immigration has increased the average wage of Americans modestly in the short-run, and by more over the long-term as capital investment rises to take account of the larger number of workers.

“Nul points” from Germany for Greece in Eurovision song contest?
blogs.ft.com– Two predictions can safely be made about Saturday’s Eurovision Contest: 1) most of the music will be painfully sub-standard; 2) millions of Europeans will nonetheless pick up their mobile phones to vote for their favourite songs.
tnr.com– In Latin America, constitutions are changed with great frequency and unusual ease, as if they were Wikipedia pages.
Women and body image: a man’s perspective
telegraph.co.uk– There’s a solid pulse running through everything our culture aims at women – be beautiful, be beautiful, be beautiful.But being beautiful, it turns out, is a near-impossible task. It keeps getting harder and harder.

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