The Voters that decide the Oscar Academy Awards

February 25, 2012 in Daily Bulletin

John Horn and Nicole Sperling at The LA Times took a look at the secretive organization that determines the winners of the academy awards. Some of the things they found include:

  • There are almost 6000 voting members that decide who wins the Oscars.
  • Among those members 94% are Caucasian. Blacks make up 2% and Latinos make up less than 2%. The academy is 77% male. The median age is 62, and 86% are over the age of 50.
  • The older average age of the academy award voters might have been the reason why The Social Network – a movie about the latest trends in technology – lost out to The King’s Speech – a movie about the British Royal Family – for the Best Picture Oscar.
  • There are three ways to become a candidate for selection to the voting committee:
    • Be nominated for an Oscar
    • Apply and receive a recommendation from existing members
    • Receive an endorsement from senior members of the committee
  • Once you become a candidate, a vote is taken and you must win a majority to be offered membership. If you accept, then you receive lifetime membership.
  • Lifetime membership means that the votes of some of the greatest stars such as George Clooney, Julia Roberts, Leonardo DiCaprio, Tom Hanks and Steven Spielberg count for as much as individuals who have had less success, or have even left the industry entirely.

To read more about the Academy’s attempts to diversify itself, how the different branches integrate with one another, and why the voting process favours older individuals click here.

Source: Los Angeles Times

Via: Salon

Why do we care about The Dow?

February 25, 2012 in Daily Bulletin, Signature

Why do we pay so much attention to the Dow Jones Industrial Average, commonly referred to as The Dow? Adam Davidson writes that it’s because: “In the postwar boom of the 1950s, the economy was growing so fast, and the benefits were so widely shared, that following 30 large American companies was a solid measure of most everyone’s personal economy.” But he argues that it has now become an outdated measure because:

  • The way the Dow is calculated focuses on share price rather than company size. This means that ExxonMobile, one of the largest companies in history, has a smaller effect on the Dow than Caterpillar, a company that is less than a fifth of ExxonMobile’s size.
  • The Dow does not adjust for inflation.
  • In a globalized world, where companies are increasingly making their profits abroad, what’s good for companies on the Dow is not necessarily what’s good for the United States.
  • Charles Dow, the individual who created the index in 1896, himself only checked it infrequently. The Executive Director of Dow Indexes believes that the Dow should not be checked more than once a month.

To read about better alternatives, the history of the Dow, and more of its weaknesses click here.

Source: The New York Times

Cake or Death?

February 24, 2012 in Snips

Eddie Izzard offers us the choice; will we have tea and cake with the vicar, or shall we die?

Most people choose the cake. But just how much cake is one human life worth?

Of course you can’t actually value a human life, but that doesn’t stop insurance companies from trying. According to a recent study based on medical insurance for dialysis, a human life is worth £81,300. And according to Marks and Spencers, one lovely Triple Layer Victoria Sandwich (for the non-brits, that’s a type of cake) costs £17.50. A hint of mathematics later, and we find that a human life is equal to 4,646 cakes.

We’re really not sure what to do with that number. Perhaps advise that all hostage negotiators have some culinary training. Beyond that; we really don’t know.

Why Aren’t Americans Driving Anymore?

February 24, 2012 in Daily Bulletin

Why have Americans cut back on driving in recent years? The Washington Post explored some theories:

  • Perhaps it’s all simply due to the recession – after all out of work people don’t commute.
  • Or perhaps it’s because an ageing population leads to a population that drives less.
  • Conversely, perhaps the younger generation is comfortable conducting social interaction online through sites such as Facebook. They might not feel the need to physically travel to see their friends.
  • One analyst argues that the real reason is that Americans are shopping online more because they’re more comfortable doing that now than they were in the past. Plus advances in mobile computing have made it easier than ever to shop online. Online shoppers don’t need to travel to brick-and-mortar stores.
  • Increased gas prices might also have encouraged individuals to shop from home.

To read some statistics, and to find out one surprising retail industry that’s booming click here.

Source: Washington Post

Via: The Economist

The IT Revolution and Medicine

February 24, 2012 in Daily Bulletin

The Author of Creative Destruction of Medicine
was recently interviewed by Salon about his book which looks at the role that computerization has to play in medicine. Some of the highlights include:

  • Doctors have historically been resistant to change. It took 20 years for the stethoscope to be widely adopted. The reasoning given to avoid change has stayed remarkably similar over the years: In the years of the stethoscope doctors were afraid that the use of the stethoscope would reduce the quality of patient-client interactions, and they’d have to learn new things such as different heart sounds and breathing rhythms. Similar arguments are used to resist the digitalization of health care today.
  • Genome sequencing can help to reduce idiopaths – people who have serious diseases but aren’t aware of them. The process of sequencing can help patients prepare for and identify serious illnesses.
  • Social networks have grown to become a provider of health care consulting. In certain cases people are more willing to trust the advice of their Facebook friends than their physicians.

To read more about whether or not doctors should email their patients, the role that cell phones will play and what your physician will know about you, click here. Or purchase the book here.

Source: Salon

Are Solar Panel Subsidizes a Waste?

February 23, 2012 in Daily Bulletin

Germany is cutting the subsidies it provides for solar panels. Bjørn Lomborg looks at why this is and concludes that the policies “have subsidized Chinese jobs and other European countries’ reliance on dirty energy sources”. Highlights include:

  • It’s an expensive policy that has negligible effects on global warming. Under the most generous statistical assumptions Germany’s efforts have delayed temperature increases by 23 hours.
  • Being a part of the European Union Emissions Trading Scheme mean that there are, in fact, no effects on CO2 reductions. Instead it is now just easier and cheaper for other European countries such as Portugal to use coal.
  • The jobs the policy has created have mostly gone to China.
  • A better use of the funds would be to encourage research and development of more efficient and competitive green technology.

To read both the advantages and drawbacks of solar power, and why it has a promising future click here.

Source: Slate

Why Don’t American Cities Burn?

February 23, 2012 in Daily Bulletin

At a time when the Greeks, the British, and even the Chinese are seeing a surge in riots why have the American people remained so docile? One historian argues that there are several reasons for this:

  • Groups that previously felt as if they had no voice in society and government, now feel that they do, and express their views through formal, established channels.
  • There has been a greater integration of minorities into society.
  • A consumer culture has made people indifferent to wider causes.
  • Authorities have increased powers, such as surveillance capabilities and that dissuades Americans from rising up in protest.

To read about how this all ties into the Occupy movement, the last widespread incidence of American riots, and whether or not this is a good thing click here.

Source: The Atlantic

Via: Marginal Revolution

Should Babies have to use Car Seats on Airplanes?

February 22, 2012 in Daily Bulletin, Signature

The American Academic of Pediatrics released a statement in 2001 supporting the mandatory use of Car Seats for infants on airplanes. Aaron Carroll writing for The Incidental Economist explained why that would be a very bad idea:

  • Such a policy is estimated to prevent 0.4 infant fatalities per year
  • But the cost of an extra airplane seat for infants (currently parents are allowed to carry them on their laps) would encourage more people to drive instead of fly. Since driving is more dangerous than flying a policy of Car Seats on airplanes would increase the number of child deaths by 5-10%.
  • Overall requiring Car Seats on airplanes would cost $1.3 billion per life saved.

To read more about the implications of such a policy, and some better (and significantly cheaper) ideas about how to prevent child deaths, read the full argument here.

Source: The Incidental Economist

Monkey Economics

February 22, 2012 in Daily Bulletin, Signature

One behavioural economist who works with primates says that his experiments make the monkeys “statistically indistinguishable from most stock-market investors.” Some of the things he has found include:

  • Monkeys were trained to use money. They demonstrated a healthy knowledge of the laws of demand, substitution, and utility maximization. When prices for one good went up, they bought more of other, substitute goods.
  • One monkey managed to set up a bank heist and a jail break and escaped with a lot of the tokens the experimenters were using for money. Whereas the currency had been contained in a controlled environment up until then, once the money was freely available to all of the monkeys in the cage with no rules about what they could spend it on, chaos ensued.
  • One male monkey gave a token to a female monkey, and then had sex with her. The female monkey used the money to buy food. This is thought to be the first case of money being exchanged for sex in a non-human species. In other words it is the first recorded case of non-human prostitution.

To read more about the similarities between humans and monkeys, why selfless and selfish monkeys face similar outcomes, and the irrational behaviours decisions that both monkeys and humans make click here.

Source: The New York Times

How Much Does the Batmobile Cost?

February 22, 2012 in Editorial, Top

Batman enthusiasts have always wondered where the caped crusader managed to find some of the snazziest and most sophisticated vehicles ever seen. 2005’s Batman Begins gave us an answer: he simply uses the latest experimental technology from his family business, Wayne Enterprises.

But as The Dark Knight demonstrated these vehicles have a propensity to be destroyed. What does Batman do when Wayne Enterprises isn’t developing some new concept that the Batman can co-opt in his crusade against crime? As long time readers of the comic books know, he simply p Read the rest of this entry →