An external debt crisis occurs when a government defaults on its external debt obligations. Typically, but not always, this loan is denominated in a foreign currency, and held mostly by foreign creditors. The largest default on record is held by Argentina. In 2001, it defaulted on more than $95 billion in external debt. Domestic debt … Read more
Joshua Waitzkin is an American chess player, martial arts competitor, and author of The Art of Learning. He was recognized as a prodigy, and won the U.S. Junior Chess championship in 1993 and 1994 before becoming a world champion in Tai Chi. This book is his explanation of the principles underlying his learning process. The Process … Read more
A competitor needs to be process-oriented, always looking for stronger opponents to spur growth, but it is also important to keep winning enough to maintain confidence. We have to release our current ideas to soak in new material, but not so much that we lose touch with our unique natural talents. Vibrant, creative idealism needs … Read more
“The man of knowledge of our time is bowed down under a burden he never imaged he would ever have: the overproduction of truth that cannot be consumed.” The Denial of Death by Ernest Becker is a great book that set the foundation for terror management theory. Becker’s controversial premise is that man’s original repression is the … Read more
Man and his Symbols is Jung’s introduction to the unconscious. Initially, Freud saw the unconscious as the place that holds repressed memories or unwanted desires. Many of the best ideas by artists, philosophers, scientists are sudden manifestations of the unconscious. But Jung sees the psyche as representative of the Self as well. The unconscious is … Read more
What Jung does when he compares primitive man with civilized man, is he gives a historical perspective of the situation of all of mankind in the current moment. This is opposed to taking a snapshot in time and comparing different groups of people together, such as different races or sexes. Jung describes to us a … Read more
Regarding IQ tests, there are three important questions that are asked. 1) Do IQ tests predict success? 2) Are IQ tests indicators of intelligence? 3) Are IQ tests biased towards certain groups of people? The first question is debatable. Some argue that IQ tests can only predict one thing – how well people do on … Read more
Debates can be illuminating, or they can be a waste of time. When is a debate illuminating? When there is a mutual attempt to explore the truth. The form that professional debates take, whether presidential or academic, are rarely an exploration of the truth. And the form that casual debates take, like the one your … Read more
A meme is a collection of ideas that spreads through people. But it does not spread indiscriminately, it relies on skillful narration and delivery on the part of the person propagating it. A talented orator and a highly connected medium are the perfect vehicles for a meme to survive. A successful meme is invariably copied and transferred … Read more
Alfred Adler was an Austrian psychologist, famous for discovering the “inferiority/superiority complex” and the effect of birth order on personality. But most importantly, Adler differed from his contemporaries, Freud, and Jung, by focusing on the present rather than on the past. Adler’s idea was that the past did not determine an individual’s destiny, there was … Read more