I do eulogize about #Lee #Kuan #Yew from time to time when one needs to seek guidance from a role model.
When asked why didn't #China collapse like the #USSR.
His reply was that the former didn't embrace #glasnost and #perestroika together like the latter did, and paid the price.
Perestroika(Restructuring) began with the Open policy in China under #Deng Xiao Peng.
Gorbachev gets all the wrong credit for its introduction in the East.
Yes, Glasnost (Openness) was a Soviet attempt to embrace human freedoms.
The Soviet Masses were shocked by it.
Chaos ensued.
Good documentaries.
Brings back my childhood memories.
Actually, people don't get shocked.
It's the closed systems that react absurdly and violently when they are shocked
#Petrification #Phobia is inbuilt into the human psyche, through indoctrination which gets passed onto institutions & systems that are used for executing governance

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More from @SAH16928046

27 Dec
Does risk management involve a lot of maths?
@SOActuaries @GARP_Risk @CQFInstitute @PRMIA @CFAinstitute @irmglobal
Yes and No!

It's a well-rounded discipline.
For #Actuarial, #Insurance, Financial Engineering, #Quantitative #Finance and Investment Management, #Mathematical #Trading, and #Financial Risk Assignments, you might require a lot of Maths and Statistics.
Is like asking whether we need milk and sugar for making ice cream ;)
Read 8 tweets
26 Dec
Is there really a purpose of having a PhD title, next to your name, if you cannot publish journal articles, write monographs or books,etc?
Why waste 3-7 years at some university?
Applied PhDs for enhancing work-related experiences are better for those who would like to only work?
I was giving advice to one student who had an #MBA.
He got rejected by all the leading universities in the UK, and the USA that offered doctoral research programmes because of his quantitative background.
The reason cited was that professional degrees are not fit for purpose.
Your best choice after doing an #MBA would be a #DBA.
That too, after gaining traction, concerning subject expertise at the workplace for several years.
DO NOT directly enter into a DBA!!
That will be a travesty.
Read 5 tweets
23 Dec
"Americans increased the Defence Budget to the tune of USD 200 Billion per year between 1980 and 1987"
One must learn Crisis Management from Military leaders and Geostrategic Affairs Experts.
Leadership, management and entrepreneurship can all benefit from wargaming and decision-making did on the battlefield.
An interdisciplinary approach to problem-solving helps a lot!
#MacNamara is right about three things when he sums up a crisis situation
1. Misinformation exacerbates a crisis
2. Emotionalism can ruin strategic decision-making
3. First information received in the event of a crisis is always wrong leading to an error of judgement
Read 9 tweets
23 Dec
Positive Real Interest Rates are required to reduce inflation.
Negative Real IR's do not help rein prices.
This little much cannot be understood by the central bankers in high-inflation economies?
That works if the source of inflation is the money supply growth due to the deficit
However, if the source of #inflation is supply-side shocks, then raising policy interest rates might hurt more.
For e.g. the Exchange rate shock which brings in imported inflation into the economy needs forex supply to counter the import/outflow demand.
IR is the painful lever
yes, a higher CB Rate should technically curb aggregate demand and expenditures in the economy.
It can reduce the domestic money supply as bank borrowing declines and thereby reduces the monetary base.
Which should taper the imports & adjust the Current a/c.
Shock Therapy 101
Read 9 tweets
22 Dec
Forex reserves supply should be matched by domestic money supply to counter inflation.
If NFA grows, the monetary base will grow
If NFA falls, the monetary base will fall
That is how a currency board system should work.
The local monetary policy is tied to an anchor currency.
The monetary base has two components
NFA Net Foreign Assets
NDA Net Domestic Assets
NDA +NFA = Monetary Base
What #Turkey needs is to #peg its currency to an anchor currency.
#Currency Peg can be fixed or crawling.
They can follow many examples, with or w/o capital #controls.
It can choose from an expansive list that includes Malaysia, Nigeria, Argentina, Hong Kong or those in the GCC.
Read 13 tweets
21 Dec
Two problems were identified with the education of #STEM based subjects.
Instructors at unis tend to pass on only #methodology, proof-writing & all the loaded #mathematical language of #symbols working in the backdrop.
But, ignore the #history & #philosophy of hard sciences.
Many A-level students study physics and get good grades, but they know little to nothing about Galileo, Maxwell, or Newton or the other greats!
Engineers do mathematics but have no clue about Euler, Laplace, Gauss, Fermat, Bernoulli and their personal rivalries and lives.
The same holds true for economists
No student can get a degree in economics without studying Keynes.
But, has anyone ever read about his personal life?
Keynes had a voracious appetite for stock trading, was sexually not straight, and was a non-economics degree holder.
Read 15 tweets

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