True Wisdom - Researched Characteristics

Referenced an article by Stephen S.Hall entitled "Wisdom comes with age? Not True" published in The Straits Times on 8 May 2007.

True wisdom it seems is associated by academic literature with the following attributes:

• A clear-eyed view of human nature
• Emotional resilience
• Ability to cope in the face of adversity
• Forgiveness
• Humility
• Knack of learning from lifetime of experiences

Formal studies on wisdom can be traced back to a young girl named Vivian Clayton. Apparently, She had observed that her father and maternal grandmother were different from other people she know. Despite their limited education, they had possessed an uncanny ability to remain in the midst of crisis and make good decision . She proceeded to tell the story of his father and his dying grandmother during World War Two, after the bombs had completely been dropped, she would just just say "Now we can have a cup of tea" nonchalantly.

Clayton, went to do her dissertation during the 1970s and 1980s, publishing groundbreaking papers on wisdom. She identified three general aspects of human activity that were central to wisdom

• Acquisition of Knowledge (Cognitive)
• Analysis of that Information (Reflective)
• Filtered through the emotions (affective)

I tried searching for her papers in Google Scholar but found only abstracts of them.

Anyway, moving along, there was another Berlin Wisdom Project that started research on wisdom. The "Berlin Paradigm" defined wisdom as an expert knowledge system concerning the fundamental pragmatics of life". In essence, it is the following:

• Expert knowledge of both "facts" of human nature
• "How" to deal with decisions and dilemmas
• An appreciation of one's historical, cultural and biological circumstances during an arc of lifespan
• An understanding of the "relativism" of values and priorities; and acknowledgement, at the level of both thought and action, of uncertainty.

The study by the Berlin group was on expertise and performance and not on inherent personality traits.

Now, another scientist, Laura Carstensen also identified the following:

• Ability to focus on emotional control is tightly linked to a persons sense of time
• Older people in general seem to have a better feel for keeping their emotions in balance.

My post does not do justice to Hall's article, but what I have done is to actually highlight the key points in bullets by the various researchers mentioned.

So, in summary, Hall ended by saying the following:

"Where does wisdom come from, and how does one acquire it? Surprisingly, a good deal of evidence suggests that the seeds of wisdom are planted earlier than old age, often earlier than middle age and possibly even earlier than young adulthood. And there are strong hints that wisdom is associated with an earlier exposure to adversity or failure. That certainly seems to be the case with emotional regulation and is consistent with Carstensen's ideas about shifting time horizons."

Interestingly, this means that we would need to have setbacks early in life to be able to become a wise man in the future. Of course, the person must be resilient enough to overcome these obstacles in their lives in order to move on.

Great article, deep in meaning and should be used by all as guidelines to true wisdom.

Knowledge comes, but wisdom lingers.
Alfred Lord Tennyson English poet (1809 - 1892)

"How" to ponder the improbable for Average Joes.

A follow-up on some of the ideas that I had proposed on the possibilities of the open source communities and prediction markets to enable common people with the ability to "how to" ponder the improbable.

I had been thinking of an overall framework which mashup the models/concepts explained in Wikinomics and Wisdom of the Crowds.

1) Open source communities like Sourceforge can startup a new project; perhaps entitled "WikiPredict". This software (preferably an online tool) will be along the lines of DIANE. I would probably specify that it should include the following features:

• Search engines; in sourceforge I can see there already TrackerDog, SearchSaver, Carrot2 and many others. ( I did not evaluate the suitability of use, but just citing some examples.)


• Wikis or Content Management software; again in sourceforge there current projects like ProWiki, NI Wiki and so forth.


• Data mining and Analytical software along the lines of Google Analytics with nice reporting charts there can be used to break down data ; in sourceforge, Decision Studio Professional looks promising through its description.

Basically, this WikiPredict system would require the 3 components to be fully integrated, tightly coupled with each other and to allow participants to have an effective and efficient manner of searching, collating, analyzing and sharing the information across the community.

Now, with the technology/tools settled, and we can now move on to the framework on how to run this WikiPredict system.

2) A WikiCommunity of people sharing the same interests in areas of politics, economics, cultural, medical or social aspects can form together to use the WikiPredict system. Of course, the particular WikiCommunity must define its purpose and mission. I would term this group of participants as "peer research analysts" producing high quality peer-analysis of world events.

3) Once an event has been so called "predicted", the active participants would then create a prediction market in the same website for the rest of the community (the 80-90% of people). Of course, it should be open to wider network if possible inviting participants from other area of interests as well. This is to encourage diversity too.

From then on, the success of these WikiPredict, WikiCommunity and Crash Prediction Market would be dependent on the quality of the participants. Knowledge can be shared, tools are open-sourced. Perhaps the community can even use Cognitive Edge Methods or other suitable frameworks that are open-sourced thus making it a more robust and accurate system.

Hopefully, if such a mass collobarative effort does materialise, Mr. Average Joes may just be able see through the invisible, connect the dots and therefore would be able to act upon the information given thus avoiding the stock market bubbles, property crashes, resource shocks and other disastrous events.

It may be argued that even with the best intelligence or information at hand, most people may not even have the capacity or courage to act upon it. However, the main purpose of this post is not to debate on that, but rather it is about how to allow the average person to have the ability to ponder the improbable.

Unknown Unknowns Part 2 - Impact on Average Joe

I remembered an article was published in the Straits Times regarding "unknown unknowns" and I went to find the newspaper clippings that I normally keep if I find them interesting.

On May 24 2007, Barry Desker, the Dean of S.Rajaratnam School of International Studies, Nanyang Technological University actually published a great book review of Seeing the Invisible: National Security Intelligence In an Uncertain Age.

Basically I intend to look for this book and read it myself. The basic take-away is that that asymmetric threats like terrorism (9/11) , disease pandemics (SARS) and natural resource shocks (Opec Crisis 1973) is a disruptive events that can bring about severe impact to not only the countries affected but in fact can become a transnational problem with severe consequences.

Anyway, my thoughts on this is in that such uncertain times, it seems that governments, corporations and big institutions are the only entities that have the resources and financial muscle to build systems or programs like RAHS, Scenario Planning or prediction markets. Prediction markets was mentioned in the book Wisdom of the Crowds by James Surowiecki. HP, Google and Microsoft are some of the companies that are using prediction markets to help them. However mostly, the applications has been on areas of national security or business planning purposes.

But, how about the common people? The man on the street who invests his life savings on stocks, bonds, property, unit trusts and other financial instruments. Also, not to mention the small business entrepreneur whose company who would probably not survive such severe shocks.

What can the common people do to help ensure that they can actually see the invisible threats to their lifetime of work or savings? Right now, I would say the there is nothing that they can possibly do. In the article by Barry Desker, he titled it "Why we must ponder the improbable". In my mind, I think for the average person, it should be titled "How can we (the common people) ponder the improbable?".

During the Asian Financial Crisis of 1997, there were numerous newspaper reports of rich multi-millionaires falling victim to the meltdown of the markets. I cannot remember reading about housewives, working professionals or retirees that got severely burnt or possibly bankrupt through their own follies. But definitely, I would think the numbers are substantial throughout Asia and the rest of the world. Subsequently, I would think the bursting of the dot.com bubble in 2000 produced many more of such personal disasters.

Alan Greenspan would called this phenomena irrational exuberance in 1996 for the dot.com bubbles and the stock market slumps. But what gave him the insight or ability to see this would be probably he had all the resources that Federal Reserve Bank can provide and not to mention his own unique abilities.

But what can average Mr. Joe do?

Of course, to be able to appreciate such improbable scenarios, Joe would need to be fairly well-educated to understand the complexities and challenges. He would certainly also need to be reasonably well-read, able to collate, analyze, interpret various sources of information and make a conscious decision on what to do.

The problem lies on the fact that the Joe lack the necessary tools and knowledge (software, formal methods or techniques) to overcome the "how to ponder the improbable" question.

I think the way to go is through the use of open source software for prediction markets or the mass collaboration between like-minded individuals interested in such matters forming themselves into forums, online communities, wikis, and practically sharing of good knowledge. In another words, applying the concepts that are being proposed by the book Wikinomics.

Also, I think the Cognitive Edge methods which the company had released under Creative Commons license is open for all is a great resource although I must admit I had not given enough time or effort to understand the material there. Dave Snowden also gently reminded me in my previous post that Cognitive Edge now offers the use of the Sensemaker suite of software tools for employment of their methods.

I had glimpse of what DIANE by the Arlington Institute looks like and I would definitely love to evaluate a demo copy of the Sensemaker software, but I am not sure whether Dave or Cognitive Edge will release them under such terms.

So, I checked from its website that cites "while methods are open sourced, revenue generated to support the network through the development of software and the sale of software licenses and services". Maybe, I would need to be an accredited practitioner. Or maybe it will great to just let everyone see some screenshots of its capabilities.

Back to the solution to the question I posed earlier. In all true sense, it will take some ingenuity and commitment on the part of the community to able to muster enough resources and capability to be able to ponder the improbable unknown unknowns.

We will probably will never know how successful systems like RAHS or prediction markets run by corporations as they remain classified and confidential; which is why I made the statement of "That is still an unknown unknown and only when we know what can be known, therefore we cannot possibly know" in my previous post.

I do not think any government of the day or any corporation would release such information as it may impact them in certain ways. Let's say terrorists or competitors got wind of how their systems or programs are working; they would probably be able to circumvent the loopholes and probably succeed in their actions.

Maybe someday it will become a reality that Joe would be able to connect the dots possibly using the above mentioned solutions and be less impacted by the 9/11s, Oil Shocks, SARS, Financial Crisises and Stock Market Crashes that have plagued him and his family for far too long. Let's see.

Standing on the Shoulder of Giants

I saw Google Scholar's motto "Standing on the Shoulder of Giants" and wondered what does it mean. Apparently, it was famously used by Issac Newton in his letter to Robert Hooke, February 5, 1675 attributing his dependency on Galileo’s and Kepler’s work in physics and astronomy.

He said "If I have seen further [than certain other men] it is by standing upon the shoulders of giants."

Nevertheless, it also means to say Newton was able to produce and contribute immensely to human stock of knowledge because of prior knowledge that was already discovered by earlier men(women).

Well, it seems that every generation would somehow benefit from the work of the previous. Which is why we are enjoying the longer lifespans, being healthier, more leisure options and other positive benefits that are incalculable in every conceivable field of human endeavour.

Unknown Unknowns

Today, in Singapore's Straits Times, its Second Minister for Finance, Tharman Shanmugaratnam was quoted the term "unknown unknowns". He is quoted to be have said "the unknown unknowns that come along every few years, and it could be a pretty vicious unknown unknown with an unwinding that's unpredictable in global financial markets."

Ah... this term is not new actually, another notable person first came out with this concept some five years ago but based on a national security context. I remembered it distinctly as I think it has many relevances in the current environment of our globalized world.

I quote from Donald Rumsfeld, ex-Secretary of Defense of United States:

The Unknown
As we know,
There are known knowns.
There are things we know we know.
We also know
There are known unknowns.
That is to say
We know there are some things
We do not know.
But there are also unknown unknowns,
The ones we don't know
We don't know.
—Feb. 12, 2002, Department of Defense news briefing

For more of his poetry, you can get from here where the above was extracted too.

So, what is the solution to this unknown unknown problem. Scenario planning is one traditional tool that many governments and organizations has been using but with so many potential variables in different contexts, I think it can be useful to only a certain extent. Shell is one global business that uses it.

However recently, Cognitive-Edge and the Arlington Institute has assisted as two principle consultants to RAHS (Risk Assessment and Horizon Scanning System) in Singapore.

"Some of the latest technology employed in the RAHS system allow for model-building, monitoring, weak signal detection and pattern analysis. Integrating traditional scenario planning frameworks with innovative thought models like the Cynefin concepts pioneered by Cognitive Edge ensures that the system is robust and able to handle a diverse spectrum of threats"

NEWS RELEASE 1 February 2007 Singapore to showcase innovative Risk Assessment and Horizon Scanning (RAHS) system

So, in integrating with new thought models offered by Cognitive Edge and tools developed by The Arlington Institute, Singapore is pioneering ahead in this field of solving the "unknown unknowns" problem. I am not sure whether it is being used as part of the economic and financial defence of Singapore, although it seems the the main application of the system is against terroism and health-related threats like SARS.

Nevertheless, it should provide a shield of some sorts and hopefully it does what it promises to do. That is still an unknown unknown and only when we know what can be known, therefore we cannot possibly know.

More Alternative Media

While continuing my reading of Wikinomics, I found some material in it that has the latest theme that I have been researching: Alternative Media.

In the chapter, The Prosumers, the authors cited Youtube, Slashdot, Digg and the Rabble. All part of the new age of Web2.0 or according to them its the "Democratizing of the Media". Digg's news items are voted by the readers and would be published accordingly by their popularity. Sounds great, as it is allowing participation by people.

I just wonder all these alternative sources of media would be the way to go where all content are actually produced by the consumers themselves whilst there is an erosion of the traditional media. Singapore's Straits Times actually is making use of this class of citizen reporters with their website Stomp with certain degree of success.

Then I found another good alternative website called Tom Paine. There is good article which is dated 20 June Bloggers And Heathers Go 15 Rounds that talks about mainstream media and blogosphere (alternative media).

Necessary illusions to manufacture consent

Watched an earlier film by Mark Achbar which won several awards sometime back. Manufacturing Consent: Noam Chomsky and the Media shows Noam Chomsky at his best making speeches, interviews and generally explaining his opinions and viewpoints. It was loosely based on his book Manufacturing_Consent:_The_Political_Economy_of_the_Mass_Media with Edward S. Herman. Cited in the film is also Chomsky's book Necessary Illusions.

His assertion that the media's role is to serve the private interests of special groups and not the people is constantly repeated throughout the film. In fact, he mentions that it is the role of the media to create "necessary illusions" for the people so as to "manufacture consent". Chomsky cites this catchphrase by Walter Lippman's in the book and Achbar's film.

His intellectual arguments are so powerful and strong that most of people that engaged him were in my opinion no match at all. He is so often described as a leading intellectual alive today, but I do not argue with that. Chomsky's contributions to the world in the field of linguistics and as a social activist has been nothing short of incredible. In the film, I particularly find his quote about sports quite amusing:

"Now there are other media too whose basic social role is quite different: it's diversion. There's the real mass media-the kinds that are aimed at, you know, Joe Six Pack -- that kind. The purpose of those media is just to dull people's brains.

This is an oversimplification, but for the eighty percent or whatever they are, the main thing is to divert them. To get them to watch National Football League. And to worry about "Mother With Child With Six Heads," or whatever you pick up on the supermarket stands and so on. Or look at astrology. Or get involved in fundamentalist stuff or something or other. Just get them away. Get them away from things that matter. And for that it's important to reduce their capacity to think.

Take, say, sports -- that's another crucial example of the indoctrination system, in my view. For one thing because it -- you know, it offers people something to pay attention to that's of no importance. [audience laughs] That keeps them from worrying about -- [applause] keeps them from worrying about things that matter to their lives that they might have some idea of doing something about. And in fact it's striking to see the intelligence that's used by ordinary people in [discussions of] sports [as opposed to political and social issues]. I mean, you listen to radio stations where people call in -- they have the most exotic information [more laughter] and understanding about all kind of arcane issues. And the press undoubtedly does a lot with this

You know, I remember in high school, already I was pretty old. I suddenly asked myself at one point, why do I care if my high school team wins the football game? [laugbter] I mean, I don't know anybody on the team, you know? [audience roars] I mean, they have nothing to do with me, I mean, why I am cheering for my team? It doesn't mean any -- it doesn't make sense. But the point is, it does make sense: it's a way of building up irrational attitudes of submission to authority, and group cohesion behind leadership elements -- in fact, it's training in irrational jingoism. That's also a feature of competitive sports. I think if you look closely at these things, I think, typically, they do have functions, and that's why energy is devoted to supporting them and creating a basis for them and advertisers are willing to pay for them and so on."

Source of the above was from Manufacturing Consent, but I pulled it out from here

I did some research on Chomsky in the Internet and found he has a website that features all his article and he contributes to a blog by Z Magazine (one of the independent magazines interviewed in the film). I find his suggestions for people to try to obtain access alternative media to be coming true in the Web 2.0 era of the Internet.

Blogs, Wikis and other forms of collaborative content by peer communities in this phase of the Internet is in my opinion a source of alternative media that he had advocated. I wonder what he thinks of this considering he made his comments on the film in 1992, some fifteen years ago.

I even found a Wiki called Wiki News; that has readers contributing to its articles. However, I see that some of the sources cited by the contributors are still from the mainstream media like The New York Times and other syndicated news feeds like Reuters. Does not sound convincing, but as with all free and open collaboration initiatives, it will continue to grow and evolve its way.

Then later, I also found from google an Activism.net website that cites several links to alternative media. I was abit surprised to find BBC News in the list. Z Magazine also recommends links here.

Well, so hopefully, after watching this film, or reading the books, the "stupid" people would be able to see through the illusions and make an informed consent on the important issues that affects their lives.

21st Century Personal Productivity

I have always been looking to increase my personal productivity but it is really difficult. Been trying to find a solution/products or way to manage all my information and knowledge assets. The best that I could come up with is Microsoft's OneNote so far which in the end I also seldom use. In the past, I used a mixture of spreadsheets, Palm PDA, traditional notebook, then O2 mini PDA phone and then back to the notebook again . But really, the system I am using is not what I am entirely proud of.

So, Ihave been looking around in the internet and found some simple but elegant solutions which I intend to try out:

The PocketMod

An simple alternative to our modern PDAs. Just a tool to turn our A4 size piece of paper into a useful pocket booklet where you can store all kinds of information. I will probably try using this; or otherwise buy a moleskines (thought I saw it being sold in Borders). Easy and portable which can fit into my backpocket, easily accessible whenever I want to use. So far, OneNote sits inside my computer notebook and the traditional notebook is too cumbersome for me to carry around most of the time. So, I am hoping either the PocketMod or Moleskine will be my breakthrough solution which will enable me to keep tabs on everything.

It seems I keep finding links to the GTD (Getting Things Done) by David Allen. Think I will look and find out what the hype is about his way of personal productivity. Then I found blogs that extols the virtues of various applications that will make our lives much more easier and efficient.
1) Kinkless

2) Life Hacks

The blogs provided lots of suggestions and I found links to download two applications: a mindmapping software: Freemind (supposedly helps in our thinking process through pictures and illustrations) and a GTD tool called Thinking Rock. So far, looks good to me; but the real test is still whether I will fully utilise them as part of my daily routine of scheduling, prioritizing and acting on the to-do lists.

KT and Mckinsey Way

Remember the scene in the movie Apollo 13 where the NASA engineers were figuring out what was the problem with spacecraft? What the movie did not show was that they were using Kepner-Tregoes Analytical Troubleshooting Techniques.

I had the fortune to attend two of their workshops nearly ten years ago. To this day, I still remember the principles behind ATS (Analytic Troubleshooting) and PSDM (Problem Solving and Decision Making). It actually formed the cornerstone of my technical troubleshooting skills. The book, The New Rational Manager by Charles Kepner and Benjamin Tregoe is highly recommended by me.

Over the years, I gradually adapted it into hybrid system with other principles whom I felt comfortable with.

Basically, I took the principles of the "low hanging fruit" and "hypothesis", MECE (mutually exclusive, collectively exhaustive) from two books, The Mckinsey Mind and The Mckinsey Way by Ethan M Rasiel. Even for ATS and PSDM, there are some differences in their process methodology.

PSDM:
1) Situation Appraisal;
2) Problem Analysis;
3) Decision Analysis;
4) Potential Problem Analysis;
5) Potential Opportunity Analysis

ATS:
1) Recognize a Problem;
2) Find True Cause;
3) Select a Fix;
4) Avoid Future Problems

Application of use between the two are similar but PSDM is much more cross-disciplinary whilst ATS is more technical oriented.

I do not always use the above KT process methodology faithfully in most of problem solving situations, but I had seen that when consciously applying some of the above principles with the ones from Mckinsey; I managed to successfully solve some difficult work problems I had.

Ten years on, I still keep the ATS reminder cards that were given out in the workshops; can't find the PSDM ones, think I may lost them.

It does have its limitations though as KT do not cater to the human element touch which a rational logical process cannot possibly cover. However, as mentioned, Mckinsey's other principles as detailed in their books can help to bridge the gaps.

Wikinomics and MIT OpenCourseWare

Been reading the book Wikinomics - How Mass collaboration Changes Everything when I saw that MIT is offering its course materials in the internet termed as OpenCourseWare.

I thought Wow!... this is quite impossible. Just now, went to its link and find that this is totally true. It has everything from Anthropology, Economics, Writing to Business Management. All for free.

Anything that you want to learn is in there. Great resource to goto if you need some intellectual stimulation.

Back to the book; I had just started but its authors Don Tapscott and Anthony Williams is actually relating some good ideas on how a new business models in the current Web 2.0 internet age can be applied in the economic sense. It is real interesting on how the concept of openess, peering, sharing and acting globally can in the current econonic context thrive when the basic tenets of generating wealth through knowledge in our existing business models means keen protection of intellectual property through copyrights and patents.

Interesting read and I hope to finish it soon enough.

Boyd's Process for Vacant Car Park Lots

Here in Singapore, car parks in popular shopping malls, places where a high volume of people congregate during the weekends is probably the most competitive activity there is for drivers looking for the free lot.

Tens and tens of cars patrol the alleyways looking and scanning for the free lot that does not seem exist at all. It is like a sea of cars sitting on bums, just refusing to budge until the occasional shopper decides he wants to visit another place outside this shopping mall.

For me, this is a problem that I thought hard on how to solve. One, is to totally avoid the crowd by going to other places where lesser or no-one wants to go. But however, this is not the solution to the problem at hand.

So, I remembered that I read about John Boyd and his OODA loop process. Although it may seem ridiculous to associate this elite Vietnam War fighter pilot with a Singaporean driver in a shopping mall, but I do find the situations quite similar.

In the skys over Vietnam, where it is vast emptiness of blue with only white clouds only acting as the only cover, Boyd subconsciously applied his OODA loop process to successfully engage in numerous dogfights of which he has never lost a single one.

In a quite a different context, the shopping mall car park is dimly lit, filled with a mass of cars, while competing with other adversaries for the free lot that is made available only when the departing shoppers decide to leave the mall.

So, in a nutshell, I applied this process consciously twice and managed to find a lot within five to ten minutes on a busy weekend noontime at two different shopping malls. I present the process as below:

1) Observation: the collection of data by means of the senses (through sight and see whether there are departing shopping patrons in your vicinity).

2) Orientation: the analysis and synthesis of data to form one's current mental perspective. (Determine whether the shopper is heading which direction where his car is parked).

3) Decision: the determination of a course of action based on one's current mental perspective (Decide whether you want to intercept this shopper to the car park lot that you think is where he had parked his car).

4) Action: the physical playing-out of decisions. (Drive your car immediately once your decision is made to the soon to be vacant lot).

Read the concepts that is explained by Boyd in above the links, and try it out. It worked for me!

When you are on your deathbed....

Recently, I received an SMS from a friend that reads "Hate working life man.. the work's ok but the people's full of shit.. u can quote me in your blog". Hahaaa.

I thought to myself, seems so apt that I had recently posted wisdom of the cabs, and replied him to read it and he would understand. His reply was people like them work to live, while most of us live to work. Hmmmn....

Sounds so familiar again and I remember the a similar question "Do we eat to live or live to eat?".

I would argue that we should eat to live and not live to eat. And similarly, I would accept the wisdom of the aussie cab driver on work to live and not live to work. It will be a very depressing thought for me that our lives that would be just focused on work alone and not on other good things in life, like family, love, enjoyable hobbies and attaining of the fruits of knowledge (which in turn helps to improve our lives).

Likewise do we eat to live to enable us to function as a human so that we can pursue the above pursuits in life that I mentioned? Of course, food connoisseurs would argue that the purpose of life on earth is to eat the fine foods while we are able to. But, ah.... be warned that too much fine and great tasting foods would result in great health risks and thus shorten the very life that is so precious.

Well, does it sound crude to put Work and Eating together in these terms? Maybe not after all, because the reason why people work is of course to be able to monetarily provide the means to support themselves; for food, clothing and shelter which has been the basic needs that humans has been striving to attain for millenias.

I remembered I read a masterful piece by Joanne B. Cillua on The Working Life: The Promise and Betrayal of Modern Work . Again, reading this book helps me to understand the great dissatisfaction of why people have on work. Read the review and you shall know what I mean.

So, the question we should ourselves as quoted in the book is actually:

"When you are on your deathbed, will you wish you had spent more time at the office?"

St. Bernard still has the book I think.....

Again, we all have a choice. Basically, in my opinion we have three choices:

1) Do good work and accept the people politics as part and parcel of the environment.

2) Do a lousy job or cruise along and start playing politics to ensure your survival.

3) Leave for other pastures and start anew.

For me, 1) will be my primary choice irregardless. Last resort would be option 3). Doing option 2) is just too exhausting and meaningless and does not add value for the organization or to ourselves. This is what the incompetent and incapable are good at. We always hear that if you can't beat them, you might as well join them! Well, think about it... you will be like joining a rock band that sing not for the pleasure of their fans but only for themselves; which in the long run, this rock band will surely fail.

Self-interested individuals in a complex environments do not survive long without help; the basic foundation block of human societies has been cooperation, realtionship-building and communities. This is how we humans has lept from being a caveman to the modern homo-sapiens we are today.

So, journeyman.... read the my tagline in blue....

Dead Economists and Pricing

I have always enjoyed reading economics, although it has has been described as a dismal science before. Recently, read two books which are are very well written.

The first, New Ideas from Dead Economists: An Introduction to Modern Economic Thought brought to life what I studied in my economics class many years. I remembered I scored an A then, and surprisingly so, since I had no grounding in this discipline. This book tells the story of Adam Smith, Karl Marx, David Ricardo, Keynes and all the long gone dead economists that still to this day heavily influenced the way our governments run our economies.

There are some injection of humour and its gives me great pleasure to read this book, providing me a firm understandingof how our markets work. Although the different ideas and theories seem contradictory with each economist firmly entrenched in their positions, they have their own logical reasons for them. One notable economist I remembered from the film "The Corporation" is also cited in this book, Milton Friedman. I won't bore you with the details, but truly an enjoyable book.

The second, The art of pricing by Rafi Mohammed. This book show how to really price any product or service. He uses great day to day examples of how he uses his principles. It seems we should price any product based on the perceived value of the product or service. Everyone places different values on the same product. Again, go read his website or the book and you will fair idea how companies set prices for consumers like us.