What Does It Take To Be A Great City?

December 20, 2012 in Daily Bulletin

London, Paris, and New York – how did these and other cities become ‘great’? Christopher Kennedy explained:

  • For a city to be great it must be rich. And the wealthiest cities are financial centres which host key financial markets.
  • To become the centre of finance a city must go through a four step process. It must first become a centre of commerce, then industry, then a transportation hub, and then finally a financial centre.
  • Quebec, for example, lost out to Toronto as Canada’s great city, because it didn’t property invest in transportation infrastructure. A failed airport launch meant that international travelers preferred flying through Toronto and the rest, is history.

Read more about cities, and those that grow without being financial centres over here.

Source: The Montreal Review

The American Navy’s Latest Toy

December 20, 2012 in Daily Bulletin

The American Navy is now testing a drone aircraft, called the X-47B, on an aircraft carrier, writes Sharon Weinberger:

  • Most unmanned aircraft are controlled by humans on the ground, but the X-47B is a fully autonomous drone, able to fly without any human instruction.
  • On the deck of the aircraft carrier the plane is maneuvered by a remote control strapped to somebody’s arm.
  • The drone has a range of 3,200km and sometime in 2014 the Navy will test its aerial re-fuelling capabilities to see if that can be extended further.
  • When normal aircraft takes off from a carrier, the pilot generally salutes the deckhands to indicate that they’re ready for launch. In a nod to this tradition, the X-47B blinks its lights to signal that it is ready.

Read more about the drone, its weapons capabilities, why it might not ever be produced on a mass scale, and more over here.

Source: BBC

Would You Invest In Bilbo Or The Hobbit?

December 19, 2012 in Editorial

Imagine for a moment, that you are sitting behind a desk with a large sum of money with which to invest. And imagine that two fellows come into your office and request your financial support for their ventures.

One is a film producer called Peter, who intends to make a movie about a hobbit burgling gold from a dragon.

The other is a hobbit from the Shire, who intends to go to a Lonely Mountain and steal from a fire-breathing lizard. Read the rest of this entry →

Indian Butlers

December 19, 2012 in Daily Bulletin

Indian butlers are the latest trend in imports to the United States writes Jesse McKinley:

  • The Pierre hotel on New York’s Fifth Avenue has launched a royal attaché service for guests at the hotel’s 11 Grand Suites.
    • These suites can cost up to $20,000 a night.
  • The royal attachés are butlers trained in India where such luxurious treatment is standard fare at high-class hotels.
  • The butlers are proficient in various subjects including in-room dining, international customs, fixing shoelaces, drawing baths, cleaning carpets, fixing remotes, and “power dressing”.
  • They also have keen observation skills so that they can anticipate “unspoken wishes”.
  • The three that have come to the States were selected from a pool of thousands of other candidates. They underwent six months of additional training to prepare for the American market.

Read more about the butlers, the services they offer, why it’s not possible to have a request that is too bizarre, and what they would wish for if somebody was waiting on them, over here.

Source: The New York Times

Via: Marginal Revolution

Time To Sell Alaska?

December 17, 2012 in Daily Bulletin, Signature

Here at Centives we’re somewhat afraid of heights and that’s made us moderately concerned about this whole fiscal cliff business. Steven Mufson however was ready to soothe our nerves by offering a solution: Selling Alaska. Highlights of his argument include:

  • Alaska’s natural resources mean that it could be sold for anywhere between $2.5 trillion and $5 trillion – as much money as both Democrats and Republicans hope to raise over the next decade.
  • Alaska was originally bought for $7.2 million in 1867 meaning that if it sold for top dollar then it would garner over a 6 million % return on investment.
  • Potential buyers include the Russian federation which might now regret originally selling it to the United States.
  • China is also a potential buyer. Arranging the transaction would be easy as America could offer to give up Alaska, in exchange for China forgetting the debt that the US has accumulated.
  • OPEC could offer a joint bid to further consolidate its share of the oil market.
  • The idea might sound ridiculous, but it shouldn’t really. In times of budget crises countries are always asked to sell off their assets. Most of the time these assets are state owned enterprises, but there’s no reason that large swathes of land shouldn’t be part of the equation.
  • However even if Alaska was sold, it’d only solve the country’s debt problems for the next six years.

Read more about the proposal, the surprising amount of support it receives from the Lieutenant Governor of Alaska, why shaming America is part of the idea, and other instances of countries selling land over here.

Source: The Washington Post

What The World Searched For

December 16, 2012 in Daily Bulletin

Joshua Keating did what all of us have feared will happen at some point in our lives. He went through our search histories. Or, to be more precise, the search history of everybody on the planet. Here is what he found:

  • Across the world people appear to have a fascination with celebrities – especially dead ones. Whitney Houston was the number one search term.
  • Egypt had some of the most serious search terms. There were no pop culture references in the top ten and terms such as “Tahir Square” and “Mubarak trial” were high on the list.
  • Burma, a country going through a democratic transition, was among the most searched terms in Saudi Arabia – perhaps an indicator of future political winds in the oil producing country.
  • “Pulmonary carcinoid” was high on Japan’s list. Probably due to fears stemming from the Fukushima disaster.
  • Russians were mostly interested in figuring out how to watch movies for free on the internet.
  • India’s top two most searched terms were university entrance exams. Despite – or perhaps because of – this the number three most searched term was an Indian-American porn star who played the lead role in a mainstream Bollywood film this year.

See the full report of the most searched terms both across the world, and within various countries over here.

Source: Foreign Policy

The Economics Of Snitching

December 16, 2012 in Daily Bulletin, Signature

Markets are alive and well in the prisons of the United States writes Brad Heath:

  • In the United States it is possible for prisoners to get reduced sentences in exchange for information about other criminals.
  • This has led to entrepreneurs in prisons using their contacts outside the jail to gather valuable information and then sell it to other prisoners looking to commute their sentences.
  • Last year half the defendants who cooperated and offered information saw their sentences reduced by 50% or more.
  • An interested buyer can purchase the information for anywhere between $5,000 and $250,000, depending on the type and source.
  • This market means that it is possible for richer inmates to buy their way to shorter sentences.

Read more about the people who thought up the scheme, those who defend it, those who are trying to end it, and find some fascinating infographics over here.

Source: USA Today

Via: Marginal Revolution

Time To End Sports Welfare?

December 15, 2012 in Daily Bulletin, Signature

Here at Centives we’re all about finding bipartisan solutions to help ameliorate America’s deficit problems. Patrick Hruby pointed out that one easy way would be to end the billions of dollars of tax payer money that goes to benefit sports leagues or, as he calls it, sports welfare. Highlights include:

  • Between 2000 and 2006 the average taxpayer contribution to each sports stadium was as high as $280 million – equivalent to 15 Saturn V moon launches. Teams get this by asking for handouts and threatening to move elsewhere if they don’t get them.
  • Some taxpayers are continuing to pay off the debt incurred from stadiums that have already been demolished.
  • Regressive taxes are usually used to pay for the stadiums – meaning that the poor are paying while relatively rich sports fans benefit.
  • This money ultimately doesn’t go to benefit local economies. Instead it goes to rich players who spend it in the cities that they live in.
  • Sports leagues generally classify themselves as non-profit organizations, getting massive tax advantages.
  • Other examples of sports welfare include:
    • Allowing players to mark fines as a deductible expense.
    • A tax loophole created by a former baseball owner that allows teams to treat players as depreciable assets – similar to computers.
    • The Pentagon spends $80 million sponsoring NASCAR, cage fighting, and bass fishing vents.
    • A tax write-off for ‘donations’ from fans who get season passes in return.

The full article is quite long and very comprehensive. Some of the things will likely surprise you; head on over here to read it.

Source: Sports on Earth

Why Sword Fighting In Video Games Is Nothing Like The Real Thing

December 14, 2012 in Daily Bulletin

Sword fighting is a staple of video games these days. Yet according to Rick Lane the games are doing it wrong:

  • Video games mostly operate in a binary world. You press a button and it leads to a specific action. Sword fighting is more fluid than that and that complexity can’t be captured by buttons.
  • In games you can normally either parry or attack. But in real battles it’s possible to both parry and attack in the same stroke.
  • Motion control offers more hope. But they face the problem of not providing feedback. In real life if you swing your blade across and it gets blocked, your stroke is obstructed. With a motion controller there’s nothing to stop your arm from following through with the motion.
  • Even if we could solve controls, the secrets of medieval sword fighting are also hard to recover. They are written in ancient languages with nuanced meanings that are difficult for modern scholars to decipher. We just don’t know how to sword fight in the right way anymore.
  • What we do know about sword fighting though can take years to master. And video games have to be accessible enough so that anybody can pick up the technique.
  • Despite all the issues, fighting dragons or gargoyles isn’t realistic either. Gamers can take solace in the fact that nobody has developed a real world technique to fight fire breathing creatures. There’s no reason to think that our games do it any better or worse than how it should be done.

Read more about sword fighting in video games over here.

Source: IGN

Starting a Whiskey Company

December 14, 2012 in Daily Bulletin

It is widely accepted that the older a whiskey is, the better the flavour. Which is great for established companies, but how do start-ups manage? Here are a few thoughts from Katy Waldam:

  • American ryes and premium bourbons take around 5 years to mature. By contrast, Scotch and Irish whiskeys take closer to 10 years.
  • Companies that wish to turn a profit from as soon as possible can buy “sourced” whiskey from other companies, and sell this until their own supplies are ready. The High West Distillery and Angel’s Envy are doing just this.
  • There are companies which actually specialise in selecting and mixing other distiller’s produce. They can also add flavours or spices to these whiskeys; but legally only water to bourbon.
  • There is considerable debate as to whether bourbon improves with age.

Read more about distilling, which whiskey was sold in “tear shaped crystal decanters with silver stoppers” and the cause of the drink’s distinctive amber colour over here.

Source: Slate