The court has had to take a hard look at our resources and make difficult decisions balancing competing demands for resources. While our current allocation of resources to the Twin Peaks Court may not be ideal, it is an appropriate allocation when all factors are considered. While I realize this will be disappointing news to you, I can assure you the matter was given serious thought before a decision was made.
If someone really wants my company's business, why shouldn't he be able to do everything he can - including paying me off - to get that business? Because bribery encourages people to make decisions based on the wrong criteria, which means in the business world that it distorts the efficient allocation of resources.
The special sphere of finance within economics is the study of allocation and deployment of economic resources, both spatially and across time, in an uncertain environment. To capture the influence and interaction of time and uncertainty effectively requires sophisticated mathematical and computational tools.
Robert C. Merton
The necessity for power is obvious, because life cannot be lived without order; but the allocation of power is arbitrary because all men are alike, or very nearly. Yet power must not seem to be arbitrarily allocated, because it will not then be recognized as power. Therefore prestige, which is illusion, is of the very essence of power.
Throughout the universe of public and private funds, managers are measured quarterly against one index or another, defined by statistics, and corralled into this category or that category so that fund of funds, pensions, and other institutions can make comforting - if not necessarily prudent - asset allocation decisions.
Now with the allocation and the understanding of the lack of understanding, we enter into a new era of science in which we feel nothing more than so much so as to say that those within themselves, comporary or non-comporary, will figuratively figure into the folding of our non-understanding and our partial understanding to the networks of which we all draw our source and conclusions from.
It's my guess that something like 5% of GDP goes to money management and itsattendant friction. I define it broadly - annuities, incentive pay, all trading, etc. Nobody else has used figures that high, but that's my guess. Worst of all, the people doing this are among the best and the brightest. Hundreds and thousands of engineers, etc. are going into hedge funds and investment banking. That is not an intelligent allocation of the brainpower of the civilization.
If your are an expatriate, a 'will' is required because, the laws of the country in which you reside would be different from that of your home country, and when the inevitable (death) occurs (untimely), your property /possessions may be exposed to the discretion of the state laws for the allocation of your property to someone, you may have never wished that they possess your property and be an heir to your assets.
Henrietta Newton Martin
Have I ever remarked on how completely ridiculous it is to ask high school students to decide what they want to do with the rest of their lives and give them nearly no support in doing so? Support like, say, spending a day apiece watching twenty different jobs and then another week at their top three choices, with salary charts and projections and probabilities of graduating that subject given their test scores? The more so considering this is a central allocation question for the entire economy?
This year, the United States renewed funding of reproductive healthcare through the United Nations Population Fund, and more funding is on the way. The U.S. Congress recently appropriated more than $648 million in foreign assistance to family planning and reproductive health programs worldwide. That's the largest allocation in more than a decade - since we last had a Democratic president, I might add.
The Obama administration's agenda of maximizing dependency involves political favoritism cloaked in the raiment of "economic planning" and "social justice" that somehow produce results superior to what markets produce when freedom allows merit to manifest itself, and incompetence to fail. The administration's central activity - the political allocation of wealth and opportunity - is not merely susceptible to corruption, it is corruption.
We do not assert that the capitalist mode of economic calculation guarantees the absolutely best solution of the allocation of factors of production. Such absolutely perfect solutions of any problem are out of reach of mortal men. What the operation of a market not sabotaged by the interference of compulsion and coercion can bring about is merely the best solution accessible to the human mind under the given state of technological knowledge and the intellectual abilities of the age's shrewdest men.
Ludwig von Mises
What is the manager's job? It is to direct the resources and the efforts of the business toward opportunities for economically significant results. This sounds trite - and it is. But every analysis of actual allocation of resources and efforts in business that I have ever seen or made showed clearly that the bulk of time, work, attention, and money first goes to problems rather than to opportunities, and, secondly, to areas where even extraordinarily successful performance will have minimal impact on results.
A rentier is an investor whose relationship to a company or enterprise is strictly limited to the ownership of financial wealth (such as stocks or bonds) and the receipt of income on that wealth (such as dividends or interest). The financial system performs dismally at its advertised task, that of efficiently directing society's savings towards their optimal investment pursuits. The system is stupefyingly expensive, gives terrible signals for the allocation of capital, and has surprisingly little to do with real investment.
Over the long term, despite significant drops from time to time, stocks (especially an intelligently selected stock portfolio) will be one of your best investment options. The trick is to GET to the long term. Think in terms of 5 years, 10 years and longer. Do your planning and asset allocation ahead of time. Choose a portion of your assets to invest in the stock market - and stick with it! Yes, the bad times will come, but over the truly long term, the good times will win out - and I hope the lessons from 2008 will help get you there to enjoy them.
This is why it is so fundamental for us right now to grab hold of this idea of power and to democratize it. One of the things that is so profoundly exciting and challenging about this moment is that as a result of this power illiteracy that is so pervasive, there is a concentration of knowledge, of understanding, of clout. I mean, think about it: How does a friendship become a subsidy? Seamlessly, when a senior government official decides to leave government and become a lobbyist for a private interest and convert his or her relationships into capital for their new masters. How does a bias become a policy? Insidiously, just the way that stop-and-frisk, for instance, became over time a bureaucratic numbers game. How does a slogan become a movement? Virally, in the way that the Tea Party, for instance, was able to take the "Don't Tread on Me" flag from the American Revolution, or how, on the other side, a band of activists could take a magazine headline, "Occupy Wall Street, " and turn that into a global meme and movement. The thing is, though, most people aren't looking for and don't want to see these realities. So much of this ignorance, this civic illiteracy, is willful. There are some millennials, for instance, who think the whole business is just sordid. They don't want to have anything to do with politics. They'd rather just opt out and engage in volunteerism. There are some techies out there who believe that the cure-all for any power imbalance or power abuse is simply more data, more transparency. There are some on the left who think power resides only with corporations, and some on the right who think power resides only with government, each side blinded by their selective outrage. There are the naive who believe that good things just happen and the cynical who believe that bad things just happen, the fortunate and unfortunate unlike who think that their lot is simply what they deserve rather than the eminently alterable result of a prior arrangement, an inherited allocation, of power.
Civic imagination and innovation and creativity are emerging from local ecosystems now and radiating outward, and this great innovation, this great wave of localism that's now arriving, and you see it in how people eat and work and share and buy and move and live their everyday lives, this isn't some precious parochialism, this isn't some retreat into insularity, no. This is emergent. The localism of our time is networked powerfully. And so, for instance, consider the ways that strategies for making cities more bike-friendly have spread so rapidly from Copenhagen to New York to Austin to Boston to Seattle. Think about how experiments in participatory budgeting, where everyday citizens get a chance to allocate and decide upon the allocation of city funds. Those experiments have spread from Porto Alegre, Brazil to here in New York City, to the wards of Chicago. Migrant workers from Rome to Los Angeles and many cities between are now organizing to stage strikes to remind the people who live in their cities what a day without immigrants would look like. In China, all across that country, members of the New Citizens' Movement are beginning to activate and organize to fight official corruption and graft, and they're drawing the ire of officials there, but they're also drawing the attention of anti-corruption activists all around the world. In Seattle, where I'm from, we've become part of a great global array of cities that are now working together bypassing government altogether, national government altogether, in order to try to meet the carbon reduction goals of the Kyoto Protocol. All of these citizens, united, are forming a web, a great archipelago of power that allows us to bypass brokenness and monopolies of control.