Posner on business ethics [Article]

Posner dissects the concept of free-market self regulation, & business ethics (to me, the term is an oxymoron) – and lays it bare for what it really is

Competition is doubtless essential to the efficient production and distribution of goods and services. But it is not an antidote to unethical practices by producers and distributors.

The question is whether his advocacy for more regulation is actually a solution at all?

The Monty Hall Problem and Schrodinger’s Cat [Article]

Scott Adams discusses the Monty Hall Problem & Schrodinger’s Cat, and our brains inability to understand reality at its most basic level.

Monty Hall is a game show host. You are given a choice of three doors. One has a car behind it, the other two have goats. If you pick the door with the car, you win it. Your odds are 1-in-3.

So you pick a door, but before it opens, Monty opens one of the other two doors to reveal a goat. He asks if you want to switch from the door you initially picked to the other closed door. Your brain says the odds are the same for any closed door, so you stay. But in fact, the odds are twice as good if you switch doors.