A break from the financial news

Cato Unbound recently has a debate on education (a good break for me from the financial market news). In a nutshell, Murray argued that our university system is highly inefficient and inadequate, and most people would benefit from a different kind of education system and mindset. Carneiro thought the situation is not that bad. Bryan used signaling as a model to explain why we are stuck in this inefficient system, while Carey gave reasons why he likes the university system.

Murray’s argument goes back to the nature vs. nurture debate. Is IQ fixed, or can we improve it with deliberation as Flynn suggested. To what extent can we changed our inherent traits? And is early intervention the best way to do it as Heckman advocated. All fascinating topics for me to explore further.Here’s an excerpt from Flynn on how to become smarter, the whole essay is well worth reading.

These comments about interventions may seem to imply that no one can really hope to improve on his or her genetic endowment. This pessimism is no more in order than pessimism about whether people can improve on their physical endowment for running. To do so, you must either have good luck or make your own luck. Either a happy chain of circumstances will force you to train throughout your life or you can develop a love for running and train without compulsion. Training will not override genes entirely, of course. There are runners I cannot beat even when I train more than they do. But I can run rings around every couch potato within 20 years of my age.

There is one way in which individuals can make their own luck. Internalize the goal of seeking challenging cognitive environments — seek intellectual challenges all the way from choosing the right leisure activities to wanting to marry someone who is intellectually stimulating. The best chance of enjoying enhanced cognitive skills is to fall in love with ideas, or intelligent conversation, or intelligent books, or some intellectual pursuit. If I do that, I create within my own mind a stimulating mental environment that accompanies me wherever I go. Then I am relatively free of needing good luck to enjoy a rich cognitive environment. I have constant and instant access to a portable gymnasium that exercises the mind. Books and ideas and analyzing things are possessions easier to access than even the local gym.

PS for those interested in Economics: Bloomberg’s Tom Keene interviewed some of the best economists recently, among them Blanchard, Dixit, Levitt, Schelling, Sachs and DeLong (oops, back to the economy again).

Comments

2 responses to “A break from the financial news”

  1. Huibin Avatar
    Huibin

     
    "choosing the right leisure activities"…this might be challenged:how to define "right leisure activities"…
     

  2. KL Avatar
    KL

    Since the aim here is to be smarter, the activities\’d be something that\’s intellectually stimulating. It\’d be a standard rule bound game like playing chess to discussing ideas freely with friends. I don\’t think the specific activity matters much as long as we enjoy it and find it rewarding.

Leave a comment