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Posts tagged economics

Jul 21

Tesler’s Law of Conservation of Complexity

I’m not quite sure how I came to cross paths with the thoughts of Larry Tesler lately, except to say that in the cacaphony of our wired lives, the Spartan designer deserves to be heard, understood and followed.  I especially like the economic parallel which hides beneath it - how we trade, value, exchange and often disregard the scarcest resource (and currency) of all: time.

Tesler’s Law of Conservation of Complexity states that:

Every application must have an inherent amount of irreducible complexity. The only question is who will have to deal with it.

In an interview, Tesler further enumerates on his law:

If a million users each waste a minute a day dealing with complexity that an engineer could have eliminated in a week by making the software a little more complex, you are penalizing the user to make the engineer’s job easier.

Whose time is more important to the success of your business? For mass market software, unless you have a sustainable monopoly position, the customer’s time has to be more important to you than your own.

Whether you fancy yourself as a experience designer, an insurance salesman, a roadie, an entrepreneur, or just an everyday human trying not to suck: there is a priceless lesson here for life and business.

[via ProgrammersParadox]

Jul 16
Where Does the Money Go? The latest Bureau of Labor Statistics study (April 2009) looks at the basics of our everyday financial lives. [via FlowingData]

Where Does the Money Go? The latest Bureau of Labor Statistics study (April 2009) looks at the basics of our everyday financial lives. [via FlowingData]

Apr 20
If you want a real bonus outrage, consider this: the operation getting the biggest taxpayer subsidy of all — the federal government — pays bonuses to its employees too. This year it plans to hand out about $1.6 billion of bonuses, despite running more than $1 trillion in the red.

– Allan Sloan, “Mad Money” (FORTUNE, 4/13/09)
Apr 10
Four Bad Bear Markets — so how does our current market compare?  Pretty bad.

Four Bad Bear Markets — so how does our current market compare?  Pretty bad.

Mar 7
Feb 26

The Crisis of Credit! (Visualized)

Dec 21
Credit Crunch: The Board Game! Trying to make the best of this historic meltdown, The Economist has a stocking stuffer for every overleveraged Christmas wish.  Can you traverse a board full of bankruptcy and quasi-communist government takeover?  Game On! [via dailymeh]

Credit Crunch: The Board Game! Trying to make the best of this historic meltdown, The Economist has a stocking stuffer for every overleveraged Christmas wish.  Can you traverse a board full of bankruptcy and quasi-communist government takeover?  Game On! [via dailymeh]

Oct 7
Stock Market: The Ride!  [via radard :: mudwerks]

Stock Market: The Ride!  [via radard :: mudwerks]

Sep 25

The United States of Mind

The WSJ highlights some counter-intuitive findings about the geography of personality, based on a study published this month in Perspectives on Psychological Science which mapped personality traits alongside state-by-state crime, health and economic data in order to look beyond the cliché of the ”stressed out New Yorker”. 

Would you believe that North Dakota is the capital of extroverts, or that Washington D.C. the epicenter of openess to new ideas? [What!?]  Turns out neurotic anxiety is not the staple of Wall Street alone — poverty is just as stressful, though both extremes lead to the same result: higher incidence of heart disease and lower life expectancy.

The findings offer many essential sociological and economic questions, but I am stuck on just one for the moment: does the place we call home shape our values, or are we simply drawn to areas (and people) that reflect these values?

Sep 15
The Financial Reaper: “Sometimes I hate my job.”

The Financial Reaper: “Sometimes I hate my job.”

Sep 11
Maslow Without the Pyramid [via the brilliance of indexed]

Maslow Without the Pyramid [via the brilliance of indexed]

Aug 4
Jul 17
Bernanke Sez: A clever Wordle cloud highlighting Uncle Ben’s latest report to congress.

Bernanke Sez: A clever Wordle cloud highlighting Uncle Ben’s latest report to congress.

Jul 10
Jun 26
General Motors: 50 Years of Flatline  [Article]

General Motors: 50 Years of Flatline  [Article]