life is a series of tests anyway -- what a load of nonsense

The New York Times, this time in an article by Elisabeth Rosenthal, their former Beijing bureau chief, has waved the pro-testing flag once again. She describes the constant testing of her children when they attended school in China, and notes that while it was stressful, years later they don't recall it as having been awful. Perhaps this was due to the fact they were learning a different culture and language and remember that much more interesting learning experience more?

Nevertheless she reiterates the New York Times party line by saying:

"But let’s face it, life is filled with all kinds of tests — some you ace and some you flunk — so at some point you have to get used to it."

I beg to differ. Life is full of all kinds of situations that test you. Life is not full of multiple choice memorization tests at all.

She quotes experts who argue how testing is killing our children, but somehow, amazingly, decides testing is good. The real question is why the New York Times is constantly beating the testing drum. There is lots of money to be made in textbook publishing and testing and those who make big money on that are always in favor of testing and have been the ones pushing No Child Left Behind. Time to come clean, New York Times. How much money are you making on testing?

23 Things they don’t tell you about Capitalism

The table of contents from a book coming out in the US in January (available now in the UK). I haven't read it, but I thought this was a pretty interesting conversation starter by itself, perhaps useful for courses. Via real-world economics blog

23 Things they don’t tell you about Capitalism

Thing One. There is really no such thing as a free market.

Thing Two. Companies should not be run in the interest of their owners.

Thing Three. Most people in rich countries get paid more than they should.

Thing Four. The washing machine has changed the world more than the internet.

Thing Five. Assume the worst about people, and you get the worst.

Thing Six. Greater macroeconomic stability has not made the world economy more stable.

Thing Seven. Free-market policies rarely make poor countries richer.

Thing Eight. Capital has a nationality.

Thing Nine. We do not live in a post-industrial age.

Thing Ten. The US does not have the highest living standard in the world.

Thing Eleven. Africa is not destined for under-development.

Thing Twelve. Government can pick winners.

Thing Thirteen. Making rich people richer doesn’t make the rest of us richer.

Thing Fourteen. US managers are over-priced.

Thing Fifteen. People in poor countries are more entrepreneurial than people in rich countries.

Thing Sixteen. We are not smart enough to leave things to the market.

Thing Seventeen. More education in itself is not going to make a country richer.

Thing Eighteen. What is good for the General Motors is not necessarily good for the United States.

Thing Nineteen. Despite the fall of Communism, we are still living in planned economies.

Thing Twenty. Equality of opportunities is unequal.

Thing Twenty-one. Big government makes people more, not less, open to changes.

Thing Twenty-two. Financial markets need to become less, not more, efficient.

Thing Twenty-three. Good economic policy does not require good economists.