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Archive for the ‘Books’ Category

New habits I like: blogging; Thai boxing; swimming

Travel to over 20 cities. The more memorable ones are places where I get to know new people, learn/try something new, or catch-up with existing friends.  

Highlights: property tour in Chengdu, Chongqing, and Sanya; business trip in Columbo, Mumbai, and Delhi; vacation in Rome and Florence; backpacking in Kunming, Lijiang, and Dali; guy trip to macau; catching up with friends in Singapore, Shanghai, and London; attending my best friend’s wedding in Maldives.

Reflect more on books I read. My favorites (in no particular order):

Other activities I enjoy: windsurfing, squid fishing, watch live soccer and rugby games (my takeaway: trying thing for the first time is often enjoyable, especially activities that involve learning new skills or something about yourself); hiking; snorkeling; basketball; coming up with names 

Relationship goes well. Traveling to another city just to catch up with good friends is definitely worth it; steady and peaceful family life with plenty of home cooked food and a nice Christmas dinner.

Finance also goes well. I like Jacob’s Early Retirement Extreme philosophy. Todd’s How Much Money Do I Need to Retire? is a good short guide on retirement planning.

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Wisdom from cartoonists

How to Fail at Almost Everything and Still Win Big: Kind of the Story of My Life – part memoir, part self-help, the creator of Dilbert shares his stories and advice in this book. I like the system approach in thinking about things. Instead of focusing on some end goals, it’s more important to focus on the process. I also like the view that reality is overrated, and we’d make use of our illusion and imagination to improve our energy and motivations (reminds me of a post I wrote many years ago). 

Other personal takeaways: think of side projects/hobbies that I’d like to pursue next year, exercise more (perhaps increase to about 5 times a week with more variety), experiment with coffee and maybe consider picking up golf at some point (probably later in life). I’d also develop a system that’d allow me to experiment and fail more often, and systematically learning from the failures. Here‘s Tim Hartford on why we should make more mistakes. 

Goal-oriented people exist in a state of continuous presuccess failure at best, and permanent failure at worst if things never work out. Systems people succeed every time they apply their systems, in the sense that they did what they intended to do……goal is a specific objective that you either achieve or don’t sometime in the future. A system is something you do on a regular basis that increases your odds of happiness in the long run.

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If you want success, figure out the price, then pay it…Successful people don’t wish for success; they decide to pursue it. And to pursue it effectively, they need a system. Success always has a price, but the reality is that the price is negotiable. If you pick the right system, the price will be a lot nearer what you’re willing to pay.

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Reality is overrated and impossible to understand with any degree of certainty…some ways of looking at the world work better than others. Pick the way that works, even if you don’t know why.

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Happiness has more to do with where you’re heading than where you are…The directional nature of happiness is one reason it’s a good idea to have a sport or hobby that leaves you plenty of room to improve every year.

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Happiness formula: Eat right, exercise; get enough sleep; imagine an incredible future; work toward a flexible schedule; do things you can steadily improve at; help others; reduce daily decisions to routine.

Some thoughts on the real world by one who glimpsed it and fled – good commencement address by Bill Watterson. I plan to get the complete Calvin and Hobbes. Here‘s an interview with Bill Watterson.

We’re not really taught how to recreate constructively. We need to do more than find diversions; we need to restore and expand ourselves. Our idea of relaxing is all too often to plop down in front of the television set and let its pandering idiocy liquefy our brains. Shutting off the thought process is not rejuvenating; the mind is like a car battery-it recharges by running.

You may be surprised to find how quickly daily routine and the demands of “just getting by: absorb your waking hours. You may be surprised matters of habit rather than thought and inquiry. You may be surprised to find how quickly you start to see your life in terms of other people’s expectations rather than issues. You may be surprised to find out how quickly reading a good book sounds like a luxury.

Anyway, after a few months at this job, I was starved for some life of the mind that, during my lunch break, I used to read those poli sci books that I’d somehow never quite finished when I was here. Some of those books were actually kind of interesting. It was a rude shock to see just how empty and robotic life can be when you don’t care about what you’re doing, and the only reason you’re there is to pay the bills.
Thoreau said,

“the mass of men lead lives of quiet desperation.”

That’s one of those dumb cocktail quotations that will strike fear in your heart as you get older. Actually, I was leading a life of loud desperation.

……

I tell you all this because it’s worth recognizing that there is no such thing as an overnight success. You will do well to cultivate the resources in yourself that bring you happiness outside of success or failure. The truth is, most of us discover where we are headed when we arrive. At that time, we turn around and say, yes, this is obviously where I was going all along. It’s a good idea to try to enjoy the scenery on the detours, because you’ll probably take a few.

I still haven’t drawn the strip as long as it took me to get the job. To endure five years of rejection to get a job requires either a faith in oneself that borders on delusion, or a love of the work. I loved the work.

Drawing comic strips for five years without pay drove home the point that the fun of cartooning wasn’t in the money; it was in the work. This turned out to be an important realization when my break finally came.

Like many people, I found that what I was chasing wasn’t what I caught.

……

You will find your own ethical dilemmas in all parts of your lives, both personal and professional. We all have different desires and needs, but if we don’t discover what we want from ourselves and what we stand for, we will live passively and unfulfilled. Sooner or later, we are all asked to compromise ourselves and the things we care about. We define ourselves by our actions. With each decision, we tell ourselves and the world who we are. Think about what you want out of this life, and recognize that there are many kinds of success.

Creating a life that reflects your values and satisfies your soul is a rare achievement. In a culture that relentlessly promotes avarice and excess as the good life, a person happy doing his own work is usually considered an eccentric, if not a subversive. Ambition is only understood if it’s to rise to the top of some imaginary ladder of success. Someone who takes an undemanding job because it affords him the time to pursue other interests and activities is considered a flake. A person who abandons a career in order to stay home and raise children is considered not to be living up to his potential-as if a job title and salary are the sole measure of human worth.

You’ll be told in a hundred ways, some subtle and some not, to keep climbing, and never be satisfied with where you are, who you are, and what you’re doing. There are a million ways to sell yourself out, and I guarantee you’ll hear about them.

To invent your own life’s meaning is not easy, but it’s still allowed, and I think you’ll be happier for the trouble.

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What I’ve been reading

Scarcity: Why Having Too Little Means So Much. The main claim of the book is that scarcity changes how we think and behave. Scarcity helps us manage our pressing needs but neglect other possibly more important concerns. For example, the authors noted that being poor reduces a person’s cognitive capacity more than going one full night without sleep. The findings seem plausible. If true, it suggests we should be more empathetic towards the decisions made by the poor. Personally I find having a different mindset (abundant/scarce) does make a difference in how I behave.

Epigraph from Calvin and Hobbes:

HOBBES: Do you have an idea for your story yet?

CALVIN: You can’t just turn on creativity like a faucet. You have to be in the right mood.

HOBBES: What mood would that be?

CALVIN: Last-minute panic.

The Why Axis: Hidden Motives and the Undiscovered Economics of Everyday Life. A fun read about using experiments to understand how incentives affect people’s behaviors. People who like Freakonomics should like this book. There are plenty of sensible advice from the book. A main takeaway is I should do more experiments in my daily life.

The Great Escape: Health, Wealth, and the Origins of Inequality. The author said the book is about “the endless dance between progress and inequality.” Angus Deaton knows the data he used well and interprets them in a thoughtful manner. It’s a good book, but I find it a bit long and at times repetitive. The section on health reminds me of another book “100 Plus: How the Coming Age of Longevity Will Change Everything, From Careers and Relationships to Family and Faith,” which basically argues that we should get ready for a long life.

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I just finished Michael Pettis’ new book on China recommended by Tyler. He uses a neat framework to think about China’s growth and how it fits in the global system. I’m probably more optimistic about China’s long-term growth outlook than Michael Pettis, although we might be thinking in a different time horizon.

Things I agree:

1) Continue rising debt to GDP is not sustainable, and at some point debt will be rising faster than debt-servicing capacity.

2) The structure of the economy (implicit government guarantee, distorted price signal, etc.) makes it vulnerable to capital misallocation, and the surge in credit and investment to GDP ratios suggest there are lots of wasteful investments.

3) Economists are bad at predicting turning points and adjusting their expectations during major turns in growth cycle.

Things I don’t necessarily agree:

1) The assumption that China must rebalance toward a greater reliance on consumption. I don’t think consumption is inherently better than investment from a growth prospective (it matters for income distribution and social welfare, but that’s a different question). A debt-fueled consumption boom is probably worse than a debt-fueled investment boom. Michael Pettis noted that wasting money is always value destroying, but consumption is about spending money with no monetary return, while bad investment might still earn some returns. In general the classification between consumption and investment is not well-defined (housing, education, types of investments, etc.).

One could argue that investment is more likely to be debt-financed relative to consumption and hence less sustainable, or that stronger consumption could encourage investments in the service-producing sectors that are likely less capital intensive. Those are valid points for rebalancing but don’t change my view about consumption versus investment. I think investment helps drive long-run productivity growth, while consumption is the ultimate end, and there is a trade-off to be made by each country. I see debt-financed investment and types of investments as the main problems, not investment per se.

A few other issues regarding consumption share: Data are not very good so we probably should assign less weight to the level of consumption to GDP. Singapore also has a very low consumption share but its model seems to be sustainable. Admittedly Singapore is a small economy and China probably won’t get away with the type of current account surplus Singapore has. My point is that for sustainable economic growth, institutions are likely the key, not consumption level.

2) I think China’s growth is more likely to slow sharply at some point as the economy deleverage, but I don’t think a lost decade of very slow growth is a necessary outcome. Reforms are key, and China is slowly moving forward. FX appreciation and strong wage growth have been happening, There are also some limited progress on improving social safety net and hukou reforms, while gradual liberalization of interest rates, further hukou and land reforms, and energy price reforms are also on the agenda. These are all steps that should help redistribute income to the households.

I think the party leaders’ main objective is to stay in power. As long as reforms are consistent with this goal, I think they will continue to pursue them. The progress might be too slow to solve the existing problems, with lots of powerful vested interests trying to stifle reforms. But there are not many emerging economies where the top leaders seem to be serious about reforms.

Assuming China hits the debt limit and growth slows down sharply, my base case is that this will help trigger some serious and difficult reforms, like what happened during Zhu Rongji’s time. The government and state-owned enterprises will likely have to shoulder the bad debts, and they seem to have enough resources to do so (i.e. selling assets).

I’m more worried about political and social instability, a topic Michel Pettis doesn’t focus on in the book. Barring major instability, I’m relatively optimistic about China’s long-term economic outlook.

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The Economist has a special report on Korea this week, touching on the social issues it faces. Here‘s the concluding article.  It cited a report by McKinsey Global Institute and also a highly readable book “The Impossible Country“. Both are good reads to understand Korea better. The former focuses more on structural economic issues, while the latter provides good information on politics, culture, and the economy.

Korea is a highly stressful country to live in. It has one of the highest suicide rates, very long working hours, and alcohol consumption well above Japan’s. This all stems from a very competitive society, starting when one is a child all the way up. Beside needing to spend a lot on children’s education (private + extracurricular) to get ahead, parents also spend a lot to live in a good district, on branded accessories, expensive alcohol for guests, and plastic surgery, all to look good among peers (luxury sales growth in Korea is among the highest in world). Hence a lot of middle income households are feeling stressed and running high household debt. There seems to be a shift in sentiment in recent years toward improving living standards, but I don’t think much has changed yet. Korea will probably need to change its growth model going forward.

I read the McKinsey report a while back. Below are some stylized facts I saved. There are also many interesting charts in the report.

PS: Going to Seoul next month and looking forward to try the ideal bibimbap.

Korea has gone from a nation where divorce was almost unheard of to having one of the highest divorce rates among OECD. It has the highest suicide rate in the world (31.7 per 100,000 people in 2011).

Only about 44% of Korean households have two incomes (vs 57% across OECD). Koreans also shoulder high monthly payments for housing loans and spend more on private education than almost any society on earth. More than 60% of respondents cited burden of education and child care as the reason not to have children.

Korea’s household saving rate has fallen from around 19% in 1988 to 4% in 2012, among the lowest in OECD, and the proportion of middle-income households operating in deficit (paying out more in expenses every month than they take in) has jumped from 15% to 25%. If monthly principal payments for mortgages were counted, nearly 55% of middle income households could be considered in deficit.

Wealth of Korean families is nearly 3 times as concentrated in real estate as wealth of US families. Real estate makes up about 74% of household assets. About 90% of loans have floating interest rates. Monthly debt service averages 25% of income, more than twice the debt service ratio of US households. The average mortgage is for 51% of home price, and many purchasers take out additional higher cost loans from 2nd tier banks. The spread on a loan to cover 80-90% of a purchase price is 4pp over a 50% LTV loan, or twice the premium charged in the US.

Overall, service sector productivity (valued added per employee), is 30-57% below levels in the US, UK, and Germany. Service wages are 55% of manufacturing wages, larger gap than in Germany, Japan, UK, and US.

Korean economy is dominated by SMEs. In SMEs, which account for 88% of employment, pay is about 62% of large-company rates. The productivity of Korea SMEs is only 35% of that of large companies. SMEs account for 99.9% of estimated 3 million plus companies in Korea, and 96% are small companies with fewer than 50 employees.

Manufacturers shifted 17% of their production to overseas plants in 2010.

According to Hyundai Research Institute, unemployment rate would be closer to 11% if full accounting were made of the unemployed and underemployed. It estimates that about 803,000 Koreans are involuntary part-timers. Part-timers make only about 65% of full-time pay. Some 30% of labor force is self-employed, compared with 10% in other advanced economies. More than 80% of self-employed work in local services, including a large number of older workers who launch their own business after retirement.

Korea’s college entrance was the highest in OECD in 2011, but graduates are having more trouble find good jobs than graduate from vocational high schools. McKinsey estimates that the net present value of the lifetime earnings of a Korean who goes through private school and university is less than the NPV of the earnings of a high school graduate.

Nation ranks highest on internet accessibility, airport one of the best, and highest smartphone penetration in the world. -Tourism revenue accounts for only 2.4% of GDP compared with OECD average of 3.8% (ranges as high as 10.2% in Spain). Employment in tourism accounts for 2.2% of jobs compared with 5% across OECD.

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Conversations with David Foster Wallace – a good book to learn about the life of DFW, how he thinks, and the inner struggles he had. The last article “The Lost Years and Last Days of David Foster Wallace” is especially poignant.

Thoughts from David:

“Writing fiction takes me out of time,” he explains. “I sit down and the clock will not exist for me for a few hours. That’s probably as close to immortal as we’ll ever get.

……

The writers I know, there’s a certain self-consciousness about them, and a critical awareness of themselves and other people that helps their work. But that sort of sensibility makes it very hard to be with people, and not sort of be hovering near the ceiling, watching what’s going on. One of the things you two will discover, in the years after you get out of school, is that managing to really be an alive human being, and also to do good work and be as obsessive as you have to be, is really tricky. It’s not an accident when you see writers either become obsessed with the whole pop stardom thing or get into drugs and alcohol, or have terrible marriages. Or they simply disappear from the whole scene in their thirties or forties. It’s very tricky.

……

But there are a few books I have read that I’ve never been the same after, and I think all good writing somehow addresses the concern of and acts as an anodyne against loneliness. We’re all terribly, terribly lonely. And there’s a way, at least in prose fiction, that can allow you to be intimate with the world and with a mind and with characters that you just can’t be in the real world.

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I had a teacher I liked who used to say good fiction’s job was to comfort the disturbed and disturb the comfortable. I guess a big part of serious fiction’s purpose is to give the reader, who like all of us is sort of marooned in her own skull, to give her imaginative access to other selves. Since an ineluctable part of being a human self is suffering, part of what we humans come to art for is an experience of suffering, necessarily a vicarious experience, more like a sort of generalization of suffering. Does this make sense? We all suffer along in the real world; true empathy’s impossible. But if a piece of fiction can allow us imaginatively to identify with characters’ pain, we might then also more easily conceive of others identifying with our own. This is nourishing, redemptive; we become less along inside. It might be just that simple. But now realize that TV and popular film and most kinds of “low” art–which just means art whose primary aim is to make money–is lucrative precisely because it recognizes that audiences prefer 100 percent pleasure to the reality that tends to be 49 percent pleasure and 51 percent pan. Whereas “serious” art, which is not primarily about getting money out of you, is more apt to make you uncomfortable, or to force you to work hard to access its pleasures, the same way in real life true pleasure is usually a by-product of hard work and discomfort.

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One thing TV does is help us to deny that we’re lonely. With televised images, we can have the facsimile of a relationship without the work of a real relationship. It’s an anesthesia of form. The interesting thing is why we’re so desperate for this anesthetic against loneliness. You don’t have to think very hard to realize that our dread of both relationships and loneliness, both of which are like sub-dreads of our dread of being trapped inside a self (a psychic self, not just a physical self), has to do with angst about death, the recognition that I’m going to die, and die very much along, and the rest of the world is going to go merrily on without me.

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There is the anecdote about all Jane Austen’s friends being terrified to talk around her because they knew they would end up in a book. I’m not sure how fiction and poetry work, but part of it is that really we notice a lot more than we notice we notice. A particular job of fiction is not so much to note things for people but rather to wake readers up to how observant they already are, and that’s why for me as a reader the descriptions or just toss offs that I like the most are not the ones that seem utterly new but the ones that have that eerie “good Lord I’ve noticed that too but have never even taken a moment to articulate to myself.”

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Probably all jobs are the same and they’re filled with horrible boredom and despair and quiet little bits of fulfillment that are very hard to tell anyone else about. That’s just a guess.

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He told me a joke: What does a writer say after sex?  Was it as good for me as it was for you? There is, in writing, a certain blend of sincerity and manipulation, of trying always to gauge what the particular effect of something is gonna be,” he said. “It’s a very precious asset that really needs to be turned off sometimes. My guess is that writers probably make fun, skilled, satisfactory, and seemingly considerate partners for other people. But that the experience for them is often rather lonely.

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Fiction’s job used to be to make the strange familiar, to take you somewhere and let you feel that this was familiar to you. It seems that one of the things now is that everything presents itself as familiar, so one of the things the artist has to do now is take a lot of the familiarity and remind people that it’s strange.

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Success can be as difficult to recover from as failure. “You know the tic big-league pitchers have,” his mother says, “when they know that they’ve pitched a marvelous game–but gee, can they do it again, so they keep flexing that arm? There was some of that. Where he said, ‘OK. Good, that came out well. But can I do it again?’ That was the feeling I got. There was always the shadow waiting.”

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In late 2001, Costello called Wallace. “He was talking about how hard the writing was. And I said, lightheartedly, ‘Dave, you’re a genius.’ [DWF won the MacArthur genius award.] Meaning, people aren’t going to forget about you. You’re not going to wind up in a Wendy’s. He said, ‘All that makes me think is that I’ve fooled you, too.”

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Montaigne and how he thinks about life

How to Live: Or a Life of Montaigne in One Question and Twenty Attempts at an Answer, a biography of Montaigne and how he thinks about life. Below are some excerpts I like.

On mindfulness (from the author):

If you fail to grasp life, it will elude you. If you do grasp it, it will elude you anyway. So you must follow it–and “you must drink quickly as though from a rapid stream that will not always flow.”

The trick is to maintain a kind of naive amazement of each instant of experience–but, as Montaigne learned, one of the best techniques for doing is to write about anything. Simply describing an object on your table, or the view from your window, opens your eyes to how marvelous such ordinary things are.

On self-understanding (author quoting Montaigne):

“If others examined themselves attentively, as I do, they would find themselves, as I do, full of inanity and nonsense. Get rid of it I cannot without getting rid of myself. We are all steeped in it, one as much as another; but those who are aware of it are a little better off–though I don’t know.”

On life (author quoting Montaigne):

I like temperate and moderate natures.

The most beautiful lives, to my mind, are those that conform to the common human pattern, with order, but without miracle and without eccentricity.

On old age (from the author):

Old age provides an opportunity to recognize one’s fallibility in a way youth usually finds difficult. Seeing one’s decline written on body and mind, on accepts that one is limited and human. By understanding that age does not make one wise, one attains a kind of wisdom after all.

Learning to live, in the end, is learning to live with imperfection in this way, and even to embrace it.

In the chapter “Keep a private room behind the shop”, Montaigne noted “Sorry the man, to my mind, who has not in his own home a place to be all by himself, to pay his court privately to himself, to hide!” I also would like to have a private room to retreat to from time to time to think and do my own works, but then there is this cartoon.

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David and Goliath: Underdogs, Misfits, and the Art of Battling Giants

An interesting read. The main theme of the book is that commonly perceived advantages and disadvantages can be misleading. For example, based on various studies, Gladwell argued that sending your children to the most prestigious schools might not be in the kids’ best interests. Obviously brand names matter, but there are also many less obvious factors that could be important. If I have a kid who wants to study economics, it’s unclear to me whether GMU is a worse choice (assuming most of my favorite bloggers are still teaching there) than the top 5 econ departments. The section on legitimacy and punishment are something the Chinese leaders should read.

The Signal and the Noise: Why So Many Predictions Fail-but Some Don’t

I think good predictions require some understanding of statistics, common sense, and avoidance of bias (confirmation bias, overconfidence bias, attribution bias, etc.). The more interesting bits I got from the books are chapters about earthquake and climate predictions, topics I’m less familiar with.

Drunk Tank Pink: And Other Unexpected Forces that Shape How We Think, Feel, and Behave

I didn’t learn much since I already came across most the research. I’ve also become more skeptical about the robustness and importance of many of these psychology findings.

Die Empty: Unleash your Best Work Everyday

Haven’t read a pure self-help book for a while. Its main message is to structure our daily life around things that matter to us. Similar to other self-help books it motivates and has some sensible advice, but ultimately it’s our job to figure out what is important to us and find ways to develop habits that lead to the results we want.

I like this epigraph: “The average man does not know what to do with his life, yet wants another one which will last forever.”

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Average is over: Powering America Beyond the Age of the Great Stagnation

Self-recommending. Tyler argues that as we get better at measuring productivity, market will increasingly reward people who can work well with machines/artificial intelligence and who are good at marketing and making people feel good. These people are likely to be self-motivated and conscientious. I think these are also people who are open to experimentation, more resilient to failure (have grit), and adaptable. To the extent that genes determine a significant part of our personality and temperament and meta-cognition and that they are not easy to change, I tend to agree with Tyler’s conclusion that income inequality trend will continue.  The positive note is that this doesn’t mean the low-income people cannot still enjoy a relatively decent life of cheap entertainment.

Links to interviews: EconTalk,  nprTechCrunch

How to Get Filthy Rich in Rising Asia

A novel about life: luck, growing up, falling in love, what it takes to be successful, decline, and ageing. I like the portrayal of the transient nature of most things in life.

Wealth and Power: China’s Long March to the Twenty-first Century

An interesting read on China’s modern history, focusing on some of the main characters involved. A good starting point to understand Chinese nationalism and the motivations behind the top leaders.

Here is an interview with Orville Schell.

Money Mischief: Episodes in Monetary History

A good, non-technical guide to monetary policy with historical examples. Surprised I didn’t read this earlier.

How China Became Capitalist

Market oriented reforms, pragmatic leadership, and willingness to experiment are some of the key elements to China successful development. China is lucky to have Deng Xiaoping and Zhu Rongji. Coase and Wang ends with a quote by Adam Smith: “The great source of both the misery and disorders of human life, seems to arise from over-rating the difference between one permanent situation and another…”

Lee Kuan Yew: The Grand Master’s Insights on China, the United States, and the World

A short book summarizing Lee’s views. Always interesting to hear what this opinionated visionary has to say.

Korea: The impossible country

Entertaining read to learn more about South Korea’s history and culture and some of the social and economic issues it faces.

The Year Without Pants: WordPress.com and the Future of Work

Scott Berkun on his experience at WordPress and thoughts on the future of work. Similar to Tyler’s view, I read him as saying that those who are self-motivated and can communicate effectively will do well, and learning from experimentation will become increasingly important.

China’s Urban Billion: The story behind the biggest migration in human history

Good overview on how China’s been urbanizing and the various problems it faces. Hukou reforms are complicated as they need to go hand in hand with fiscal reforms to address local government revenue, land reforms and property rights, education and retraining, and city planning and environmental impact. These are likely topics that the central government will address in its upcoming plenum in November.

In Spite of the Gods: The Rise of Modern India

Helps me better understand India’s politics and economy and the tremendous challenges it faces.

Top Dog: The Science of Winning and Losing

Po Bronson and Ashley Merryma summarize research on competition. Some takeaways (not sure if they are robust): Competition helps to improve our performance and facilitates creative output. Better competitors are those better at controlling their psychological state. “Performance is facilitated and learning is impaired by the presence of spectators.” Positive pep talks don’t help much, while thinking about the potential obstacles helps. Boys and girls might thrive in different competitive environment.

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NY book reviews: The Wilderness of Childhood

The trend’s probably more relevant in the US than in Asia. Would mental adventure (online, virtual experience) be enough to compensate for the decline in physical adventure. Some passages:

People read stories of adventure—and write them—because they have themselves been adventurers. Childhood is, or has been, or ought to be, the great original adventure, a tale of privation, courage, constant vigilance, danger, and sometimes calamity. For the most part the young adventurer sets forth equipped only with the fragmentary map—marked here there be tygers and mean kid with air rifle—that he or she has been able to construct out of a patchwork of personal misfortune, bedtime reading, and the accumulated local lore of the neighborhood children. The thing that strikes me now when I think about the Wilderness of Childhood is the incredible degree of freedom my parents gave me to adventure there. A very grave, very significant shift in our idea of childhood has occurred since then. The Wilderness of Childhood is gone; the days of adventure are past.

This is the kind of door-to-door, all-encompassing escort service that we adults have contrived to provide for our children. We schedule their encounters for them, driving them to and from one another’s houses so they never get a chance to discover the unexplored lands between.Art is a form of exploration, of sailing off into the unknown alone, heading for those unmarked places on the map. If children are not permitted—not taught—to be adventurers and explorers as children, what will become of the world of adventure, of stories, of literature itself?

This bit on travel resonates with me well, as I often find myself traveling on foot and getting lost in nowhere:

The traveler soon learns that the only way to come to know a city, to form a mental map of it, however provisional, and begin to find his or her own way around it is to visit it alone, preferably on foot, and then become as lost as one possibly can.

Here‘s an article on baby understanding:

The evolutionary answer seems to be that there is a tradeoff between the ability to learn and imagine — which is our great evolutionary advantage as a species — and our ability to apply what we’ve learned and put it to use. So one of the ideas in the book is that children are like the R&D department of the human species. They’re the ones who are always learning about the world. But if you’re always learning,
imagining, and finding out, you need a kind of freedom that you don’t have if you’re actually making things happen in the world. And when you’re making things happen, it helps if those actions are based on all of the things you have learned and imagined. The way that evolution seems to have solved this problem is by giving us this period of childhood where we don’t have to do anything, where we are completely useless. We’re free to explore the physical world, as well as possible worlds through imaginative play. And when we’re adults, we can use that information to actually change the world.

I prefer to view and treat kids like adults. Or maybe it’s the other way round: view and treat adults like kids. It’s the same for me either way.

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