Opportunity Cost view of rating movies
This is also why I may not trust other people's judgement (unless it's a consensus view). Wisdom of the crowds may remove this effect though, through regression to the mean.
Labels: philosophy, success
A lot of people say that India has been held back by its democracy. But let’s remember that despite being a poor country India’s democracy meant that its government never let millions of people starve. No politician wants to starve potential voters. In the long run, I think India is going to benefit from its democracy and not be harmed by it. Democracy is, in a sense, like markets. It provides information and feedback, it leads to a more open system and it constrains government from the worst kinds of abuses. I think that the more China proceeds along the wealth path, the more difficult they will find it not to have a democracy.
Labels: Democracy, Development, India