December 25, 2008
The Law: Going from Bad to Worse
December 24, 2008
History + Comedy = Rothbard
December 24, 2008
Lectures on Macroeconomics, No. 11
December 23, 2008
Banana Republic Economics, Continued
December 23, 2008
Theory, Explanation, and Policy
December 23, 2008
Education, Ideology, and Awkward Weddings
December 23, 2008
Finally, Some Good Economic News
December 23, 2008
Which Sector Should Lead?
December 23, 2008
A Microfinance Skeptic


“(Nicholas) Negroponte believes that with computer-mediated communication, I can converse in English to someone speaking Japanese. This sounds nice in theory, but in practice the challenges of speech recognition and language translation appear to be too great for the next several years.”
Nicholas Negroponte fails to understand that it is impossible for a computer to adequately translate one language to another. Language is an intrinsically nebulous activity and words constantly change in meaning. At the very best, a highly developed language translation software will provide an approximate understanding of the text.
“Spence said that he felt better about predicting that a Chinese would overtake a Frenchman, because China has better infrastructure than India. (This view is shared by Indians.)”
I’ll put my money on the people of India. Their democratic social milieu gives them a huge leg up on the Chinese damaged by Communism. Culture indeed does matter. Fortunately, India is also overcoming the damage brought about by listening earlier to John Kenneth Galbraith and other socialist economists.
Lastly, we should hope that English dominates the world. The Tower of Babel was a curse, not a “multicultural” blessing! Why English, and not Eskimo, Spanish, or German, the language of my ancestors ? Hey, life’s not always fair. Those &^%# Limeys have won, and its best for the rest of us to get with the program. God help those who hesitate--they will have a very rough time of it. And yes, that is also true for the French.