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Morality of Markets

I’ve previously introduced Michael Sandel’s lectures on Justice in Harvard. I haven’t finished the series despite great interest in it but I recently watched another of his lectures, one at Chautauqua where he talks about the Morality of Markets. In some sense, I was particularly interested in this issue and believe that all those trained in Economics should be made to study it. After all, Adam Smith was a Moral Philosopher. The philosophical element of Economics is becoming lost in our study of it today.

Markets Corrupts?

That is what makes this particular Michael Sandel lecture extremely insightful. He starts with the idea that we’re now plagued by market triumphalism and he tries to question what is wrong with that. As often in his lectures, he poses a scenario either hypothetical or based on actual proposals in the real world and then solicits opinions from the audience. He eventually surfaces his points and ideas from the responses of the audience and does a brilliant summary of the issue.

He gives a good and important point in his conclusion of this lecture that explains why we should not allow markets to expand indefinitely in our lives. In other words, there are areas where markets can, indeed serve the best interests of the societies especially when we all can agree that the market system gives an accurate and fair valuation of the good or service involved. Unfortunately there are values out of the consideration of the market that we might cherish and therefore we should not allow particular goods or services to become commodities to be traded and transacted. The danger of the markets is that it leaves its mark on the commodities that are traded; the values that we cherish becomes diluted, corrupted by the market system.

The example of paying a child to read is important in illustrating this. We should cherish reading not because of the monetary gains but the intrinsic value derived from joy of reading and learning. Therefore when we start paying children to read, it sends out the wrong messages and distorts the valuation of reading. The trick then, perhaps is a solution around this limitation of the market, to be able to remove that mark that market leaves on the thing traded. Unfortunately there’s no easy solution and possibly none. This is a strong argument against markets and while it is applied to a small group of tricky issues, they are worth pondering over.

Michael Sandel makes Political Philosophy and Moral Philosophy not only accessible to the public and ordinary, non-philosophy students but also makes extremely relevant connections between traditional Western Philosophy and the issues plaguing us in the modern world. It’s really fortunate that we are able to access his lectures even though we are not studying in Harvard or in America. There are other videos of his public lectures available on FORA.tv.

Search and Research

It has been a long time since I wrote something about handling school work and such. I’ve been working on a couple of articles for some external parties and doing quite a lot of research and writing. The experience can be frustrating and tiring as I plow through loads of data, informative material and readings and then get lost in bits of thoughts here and there, never settling down to write. Such is research, you ask a few simple questions that you expect could be answered with a sentence or two but end up having loads of related answers and information that leads you to the fact that answers you’re looking for is way more complex. Then you realise you have got to put together evidence for each of your claims and explanations. People were asking me how I manage all that stuff, I told them that you’ve got to work out a plan somehow.

So in this article, I’d be discussing my method of planning writing and research. It’s by no means a definitive answer to managing your research or school projects but it might be an option you’d like to choose. I’m writing very generally about the kind of information research that leads to writing a paper/article; the sort that doesn’t require you to don on a lab coat and hold up test-tubes.

I recommend that before you start using Google, lay out some fundamental questions your paper/article would answer or specific information it will provide. It can be as general as an overview to a topic, or as specific as the number of petrol kiosk in a particular town. After listing them out, mark out the more specific questions and then hunt for the data first. These are usually the data sets you are going to use to introduce a particular claim or to support your theories. If there’s no such data available then you can find other proxy indicators or try and switch the type of evidence. It is important that you start off checking for the availability of the data you need or whatever you’re going to write would be groundless anyways.

After gathering the data you need, hunt for general articles on the topic that you are working on. These are the articles that refer to other more specific sources for information, or sites like Answers.com and Wikipedia. They serve as a directory for the topic and also to alert you or anything about the issue/topic that you might have overlooked. Often, these can also be blog entries that link up articles of related topic, much like the ones on ERPZ. When you’re clear you have a general idea of the topic and know briefly the issues involved, start planning your writing, listing the arguments, the progression of arguments and the sequence you present information to make your case. Often, some information you will need to provide are things you are not necessarily aware of, perhaps the revenue of a particular firm, the market share in an industry, or the response of a CEO to a recent affair. These are the stuff you didn’t initially set out to include but subsequently find rather significant.

Armed with the plan, start searching specifically for the information you need and formulate/sharpen your arguments according to these information. Unknowingly, you have actually slashed down the amount of content that you’ve read. By using general articles as signposts for your planning, you have drawn up the parameters of your research, something difficult when you’ve not read up anything or done any research. This explains the preliminary research into key and essential data you need as well as the general articles to get you started. The rest of your writing would build around these anchors that you’ve found in the beginning.

Then, follow through your plan as you write. This works for any volume of research, those that takes days to weeks and possibly months. For the ones where data sets have to be built from scratch either through ripping apart official statistics or carrying out your own surveys, the process would be placed between preliminary research and the ultimate planning. So happy searching and re-searching!

Con-nect-working

Social networks have been rising for some time now. And while they initially started out as mere toys for youngsters, there have been talks of higher degrees of commercialization, how these networks will change the lifestyle of people, and so on. Now that the change has taken place somewhat, it makes sense for The Economist to tabulate some of the impacts these networks have brought in.

To begin, these networks have definitely became an important way people communicate; however mundane or skimpy each little piece of content may be, they are viewed by many people within your network and it broadcasts bits of information about you that couldn’t have been captured in the yesteryears. This is true for the comments you cast, the status messages you post, the photos and videos you uploaded and all the social games that you play. Although online social networks remain essentially much like a bulletin board (except viewership ability of contents are more strictly controlled and with richer content) and thus does little to enrich people’s ability to do real networking, it does a wonderful job at augmenting our real relationships.

This strong link with the real world is a great strength for online social networks. Websites are viewed as corporate facades that give little information about the reality of the companies. On the other hand, the pages for these firms on social networking sites are viewed as better avenues for firms to communicates with their customers. Likewise, a corporate site announcement of a promotion the company is offering does less to boost sales compared to a tweet which might have much more followers.

That is the free advertising service that sites like Twitter and Facebook might offer, which brings us to the question of how money is being made on such networks. A peach of an opportunity, an article in The Economist special report on social networks gives us an idea what are the businesses that taps into the plumbing of social network connections and thriving. For all the talk about connecting with friends, being entertained by your online pets, or having a good laugh from the video your friend has shared, businesses might be the greatest benefactor of this trend.

Culture & Phones

Trapped on our little island of Singapore, we hardly wonder what our handphones are capable of; here in Singapore we typically use it to text, call, surf, as a phone book to retrieve contact details of people, a personal organizer and even a camera. Singaporeans makes extensive use of their phones and our preferences are varied, a reflection of our melting pot of diversity. And as the briefing in the latest issue of The Economist shows, mobile phones are indeed a great reflection of the culture of the people using them.

The article mentioned a couple of interesting quirks about people using mobile phones around the world:

Japanese use their phones to text and surf intensively because using phones to make or receive calls on board trains and some other public places are thought to be extremely rude.

Spaniards reject voicemail because they think it’s rude not to receive calls from others when they call, even when the receiver is busy with matters.

Chinese will interrupt conversations to receive calls because they are afraid to that they’d miss a business deal; at the same time they use knock-offs handphones that often have extensive functions, even capable of using two SIM cards.

Americans are willing to endure limited cellular coverage; perhaps fearing the hassle involved in changing operators.

Italians, Greeks and Finns would switch operators if they find their coverage limited and yet are fearful of the effects of electro-magnetic radiation, which probably is more ubiquitous than in America.

Indians use mobile phones as torchlights.

Africans usually use ‘beeping’ (ie. give the person a ring) to contact people and signal them to call back when they’re low on pre-paid credits.

Indeed, mobile phones are changing everyone’s lives everywhere; one just needs to know the name given to these devices in different societies and cultures to understand their importance. In fact, Iraqis thought more highly of the proliferation of mobile phones as a result of the American invasion than their supposed liberation.