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#25 Prediction Machines: The Simple Economics Of Artificial Intelligence

During World War II, Allied engineers studied returning bomber planes to determine how to improve their protection. Their initial calculations assumed that reinforcing the areas with the most bullet holes would be most effective. However, statistician Abraham Wald offered a counterintuitive solution: reinforce the areas with no bullet holes. Wald's insight was based on the understanding that the bullet holes on these planes represented areas that did not result in fatal damage. The missing data—the planes that did not return—likely had bullet holes in critical areas that led to their destruction. His insight, which combined human intuition with an understanding of the data generation process, resulted in a significant reduction in casualties. This story demonstrates the importance of human judgment, alongside mathematical models, in making informed decisions. This is the central theme of "Prediction Machines." Throughout the book, the authors—Ajay Agrawal, Avi...
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#24 Justice: What's The Right Thing To Do?

Why does rape generate stronger reactions and awaken a nation's conscience more often than other heinous crimes? Is it perhaps because it inflicts immense pain on the victim and their family? One might argue that this is also true for murder. Is it the fact that offenders derive pleasure from the victim's suffering that contributes to this disparity? Does this justify the death penalty? Should the validity of criminal laws be determined by public morality rather than constitutional morality? First of all, what is justice? These were some of the questions that had occupied my thoughts recently. Michael J. Sandel delves into the philosophical debate surrounding justice, highlighting three key concepts: maximizing welfare, respecting freedom, and promoting virtue. He contrasts ancient views, which tie justice to virtue and the best way of life, with modern perspectives that emphasize individual freedom and neutrality regarding moral values. Ultimately, Sandel suggests ...

#23 How To Win An Indian Election: What Political Parties Don't Want You To Know

"How To Win An Indian Election" offers a candid exposé of the intricate mechanisms that underpin electoral victories in India. The perspective presented resonates with insights from the article "Finding the Right Job for Your Product," which I studied during one of my courses at IIMU (though I cannot recall which one at the moment). That article argues that traditional methods of product positioning can often lead to a focus on inessential attributes and unnecessary customer demographics, rather than addressing the underlying "jobs" that consumers are trying to accomplish using a product. This narrow focus can trap companies into a fruitless pursuit of adding features that customers do not value and which competitors can easily replicate, leading to diminished profits and a failure to differentiate. Similarly, Shivam Shankar Singh's central argument contends that Indian elections are less about governance and policy discussions and more abo...

#22 Numbers Don't Lie: 71 Things You Need To Know About The World

Vaclav Smil's "Numbers Don't Lie" is a collection of essays that explores various global trends, from demographic shifts and economic indicators to technological advancements and humanity's impact on the environment. Smil highlights how reliable data and statistics can illuminate complex issues and provides insight into the forces shaping our world. Among the critical factors influencing our future is the dramatic shift in global fertility rates. Smil argues that the role of the Total Fertility Rate (TFR) in global dynamics is pivotal. Historically, societies flourished with high fertility rates as they needed larger families to address high infant mortality, labor demands, and old-age security. As living standards improved, industrialization advanced, and women’s roles evolved, the focus shifted from the quantity of children to enhancing the quality of life. This transition, characterized by a reduction in TFR, has been driven by greater access to edu...

#21 AI Superpowers: China, Silicon Valley, And The New World Order

The recent ascension of chipmaker Nvidia to the world's most valuable company underscores the surging economic significance of Artificial Intelligence (AI), a topic that frequently dominates the global news headlines. To delve deeper into the multifaceted impact of AI beyond its immediate financial implications (and to ensure we steer clear of any Skynet scenarios!), I have embarked on an exploration of AI-related books, starting with this insightful read. Kai-Fu Lee's "AI Superpowers" delves into the global race for AI dominance, with China and the United States at the forefront. The book emphasizes the necessity of adopting a human-centric approach to address the ethical, economic, and social implications presented by AI. Lee highlights China's potential to surpass the US in AI, even though the Western world spearheaded the initial development of deep learning. China's strength lies in its capacity to effectively implement existing AI technologie...

#20 The Argumentative Indian: Writings On Indian Culture, History And Identity

How do we define Indian identity? What is 'Indianness'? What aspects of us makes India unique from the rest of the world? These questions have been the subject of much discussion, debate, and argument among scholars. Amartya Sen eloquently points out that it is this deeply ingrained dialectical aspect of Indian culture since ancient times unites us as Indians, if not making us entirely unique. Sen's exploration begins with a reflection on ancient Indian epics like the Ramayana and Mahabharata, highlighting the prevalence of debate and questioning within these foundational narratives. He breaks down how these debates extended beyond philosophical realms, with historical examples showcasing inclusive participation across gender and caste lines. This emphasis on argumentation, Sen argues, laid the groundwork for India's vibrant democracy and its unique form of secularism, where diverse voices are encouraged to engage in public discourse. While India's histo...