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Most interesting article and then something else.. February 18, 2007

Posted by Sharath Rao in America, economics, geo-politics, india, videos.
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Excellent article on the subject in a long time. Funniest part :

He pointed out that it took the U.S. 15 years after World War II to learn to think seriously about the security of its weapons. Before that, weapons did not have combination locks, let alone complex electronic security codes. Now, most weapons will not detonate even if given the codes unless they are at their designated targets. He recalled that a friend who had a role in developing the weapons told him that one day in the late 1950s, he got off a plane at an air base in Germany and saw a military aircraft on the tarmac with a bomb beside it guarded by a single soldier. In those days there were not locks and codes. The man strolled over and asked the soldier what this was. The answer: “I believe it is a nuclear bomb, sir.” When asked what he would do if someone started to roll the weapon away, the soldier replied that he would call his superiors for instructions. A further enquiry established that the phone was some 300 meters away.

In this 3 minute video, Columbia economist ( and a likely future Nobel Economics winner ) Jagdish Bhagwati has some interesting things to say on the success of Indians in America and why he took up the US citizenship after several years of being a green card holder.

A 2 minute short video again – Nobel Laureate Economist Gary Becker talking about average behavior and idiosyncratic behavior. Nail on the head ! [ Useful for those under one of these categories ]. I wrote about averages in one of my earliest posts.

Any guesses about the US Navy phone bill ? Clue : From this chart it appears that its larger than the entire military budgets of all but top 30 countries.

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