Very few (rich people) in Pakistan pay taxes. Those that do, tend to not pay what they owe. Result, The government has no money. What it does collect is misspent.
What would happen if we put all taxation data and spending online. If I wanted to find out exactly how much money nawaz sharif or my next door nieghbour declared and paid in taxes, I should be able to look it up easily. Similarly, all the money given to the education ministry and had how it was spent should be put online.
We can use web 2.0 to become the fact checkers and the eye in the sky in Pakistan. Okay, maybe it won't save Pakistan but it would be a step in the right direction.
Sunday, April 26, 2009
Tuesday, April 21, 2009
US headed the way of Ireland?
Great article by Krugman as always. I feel this threat of a US debt crisis may well be the next shoe to drop if Obama does not see that Gietner's plans are not going to work but rather making things worse.
Banks well capitalized?
Gietner says the banks are well capitalized. The IMF says losses from the credit crisis in the financial sector will reach 4 trillion.
The treasury, like most other actors in this crisis, are acting out of fear. Fear, if these fallen banks are not propped up, all hell will break loose.
Hell has already broken loose. Sweeping things under the rug will only prolong the anguish. The banks are not capitalized well. Why else would the likes of GS play with it earnings. Like taking December out of its annual report in reporting its latest earnings.
Stop proping up failed institutions mr secretary. Stop acting out of fear.
The treasury, like most other actors in this crisis, are acting out of fear. Fear, if these fallen banks are not propped up, all hell will break loose.
Hell has already broken loose. Sweeping things under the rug will only prolong the anguish. The banks are not capitalized well. Why else would the likes of GS play with it earnings. Like taking December out of its annual report in reporting its latest earnings.
Stop proping up failed institutions mr secretary. Stop acting out of fear.
Monday, April 20, 2009
Crochet and hyperbolic space
Ted talk: beyond euclidian, spherical geometry is the geometry of correls, modeled by a cornell scientist, daina taimina, via crochet.
In hyperbolic space, an infinite set of lines are paralell to a given line.
In hyperbolic space, an infinite set of lines are paralell to a given line.
History is a (double) helix.
Reading an economics article I came across the following: history is not a sine wave, endlessly repeating the same pattern. Rather it is a helix, in that we encounter issues that lie in the same plane but are different.
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