Dex's Book Review:The Undercover Economist

Tim Harford is a senior columnist at the Financial Times.He is a visiting fellow at Nuffield College,Oxford,and was the winner of the 2006 Bastiat Prize for economic journalism.

This book is recommended for people who do not have a degree in Economics.

In this book,Tim Harford introduces us the principles of economics which includes supply and demand interactions,globalization,GDP,
GNP,micro and macro economics and many other topics which are written in a Q & A format, with the questions being directed for a specific topic,easy to understand and yet can be witty.

Most topics of discussions are explain in non-technical terms like why poor countries remain poor  while China is prospering with continuous growth and why some countries are badly managed.

When a country is in financial constraints,is printing more money the solution?


  Is inflation good for the country's economy?

 What are the fiscal stimulus policies that are good for the country?

What are the benefits of introducing new currencies?

Let Tim Harford answer your questions and with some humor thrown in,this book will certainly enlighten you through the principles of economics in an entertaining way.


Some interesting quotes:

"An imbalance between rich and poor is the oldest and most fatal ailment of all republics." Plutarch
(Chapter 14: Inequality)

"Supply creates its own demand." Jean-Baptiste Say {Chapter 6: The prison camp recession)

"The average man won't really do day's work unless he is caught and cannot get out of it.There is plenty of work to do, if people would do it."  Henry Ford ( Chapter 8: Invention of unemployment}

"The most powerful force is compound interest."  Albert Einstein (Chapter 13: Can growth continue
 for ever)


"Let some people get rich first." Deng Xiaoping (Chapter 14: Inequality)


Rating: 8/10

Dex's Book Review:The Moral Molecule

Paul J Zack has a Ph.D in Economics from the University of Pennsylvania and postgraduate training in Neuroscience from Harvard University.He is now Professor of Economics,Psychology and Management and Claremont,and Clinical Professor of Neurology and Loma Linda University Medical Center in California.

Imagined that you were at a railway station with your son. All of a sudden you saw a man fell onto the railway track.Without hesitation, you asked the man standing beside you to look after your son and then you jumped onto to track to save the man who has fallen.

Why would you risk your life to save a stranger? How can you trust a stranger to look after your son?

Why do we get cheated by con men?

How can we be happier?

The answer lies with the presence of oxytocin in our body system and this is what this book is all about, oxytocin.It is a hormone and acts as a brain transmitter and plays an important role in human bonding and which Zack has a lifelong fascination. He calls it the moral molecule.

In this book,Zack has shown the role of oxytocin in human behavior through his many experiments.

In the first part of the book,he was invited to a friend's wedding to conduct an experiment to determine the level of oxytocin of the bride and the guests.Blood samples were taken just before the wedding ceremony to get a base line level and after the wedding to make a comparison.It was shown that the level of most of them showed a higher level of oxytocin after the wedding ceremony.

The second experiment is what Zack called the Trust Game.
The participants were divided into group A and B and one group was given a certain sum of money and were told to give the other group any amount of money as they wish and the amount will doubled when received by the receiver.The receivers of the money were told to reciprocate any amount of money to the giver.When the game was over,it was found that for those who gave and reciprocated generously,their oxytocin level seemed to be higher.Similarly,Zack did a test in Papua New Guinea during a ritual tribal dance to determine the oxytocin level before and after the dance.And the result was as expected by Zack.

When oxytocin surges,people behave that are kinder,more generous and caring.And oxytocin surges when people are shown a sign of trust.

.It will be more interesting if Zack could elaborate in greater details the methodology of the many tests that he conducted.Was it just as simple as "before and after" test comparison or were the results skewed towards his expectations?

Is oxytocin in our body the only factor that affects our social bonding?
What about the external factor,like money?


As Zack said,"This book book is going to show you why this oxytocin effect happens,when it happens,and how we can make it happen more often."

Read this book with an open mind and along the way, I hope it can guide you to develop trust and empathy among our fellow humans in a different way.


Rating:6.5/10

Dex's Book Review: Outlaws Inc.

Matt Potter is a journalist,editor and broadcaster.He has reported for BBC Radio from Eastern Europe,Afghanistan and South East Asia.

Unlike Robert Ludlum fictional Bourne Identity, Matt Potter goes into real life action, flying with the world's most dangerous smugglers to understand and uncover the dangerous world of smuggling.

The book is about a group of ex-Russian veterans who bought  decommissioned Russian war horse super planes, the Ilushin Il-76 to do what they know best,smuggling any goods to the world's most troubled spots with the right price. Their giant cargo planes have secret compartments which can be filled with drugs,guns,money. With such a high risk job, some pay a heavy price and lost their lives to terrorists,hostile territories, mafias and even alcohol which some cannot live without.

Matt Potter follows their incredible story around the world and in the process has become a good friend to some. He takes us to Afghanistan where he begins his journey and then to Chechnya,Russia where he witness how goods are transported, even when the plane is being overloaded.

In Somalia, where pirates are king of the high seas,he detailed explicitly how the ransom money is being paid from the plane!

From East Africa to Central America and to Iraq, Matt Potter writes his journey in such an absorbing manner that it certainly is a thriller!

And with some elements of James Bond,Jason Bourne and Indiana Jones,this book is an explosive read.

Overall Rating: 8/10

Dex's Book Review:Speeches that changed the world

Simon Sebag Montefiore is a historian and an international best seller author.

Speeches that changed the world has already sold over three quarter of a million copies.

History is not all about recording dates and events.It allows us the opportunity to analyze why and how the events occurred and ultimately, a chance to learn from it.
Throughout the course of history,great speeches have influenced and changed the direction of our past.

This book contains 48 speeches and it starts with Jesus of Nazareth during his sermon of the Mount and ends with Barack Obama's victory speech after winning the presidential election on 4th Nov.2008.

Just to name a few, this book contains speeches by Abraham Lincoln,George Washington,Napoleon Bonaparte,Adolf Hitler, Winston Churchill,John F Kennedy,Martin Luther King Jr and many other great leaders:the  good, the bad and the evil ones.

You do not need to read this book page by page like a novel.You can choose any of the speeches from the content that interest you.Each speech is accompanied by an introduction that explains its historical background and also a biography of each speechmaker, albeit an abridged one.

Although the speeches listed in this book are thought provoking and inspirational, I believe there are also many more which are not listed here.Anyway, this book makes a great collection.


This book is  ideal for reading if you like history and also as you go through the speeches, you will learn how words are used in a powerful manner and how the language is used splendidly:simple,meaningful and inspirational.

Maybe one day, you might need such great oratory skill.

Overall Rating: 8/10

Dex's Book Review:Blunder

The adage "Do not judge a book by its cover" certainly holds true for this wonderfully well written and researched book by Zachary Shore, an associate professor of national security affairs at the Naval Postgraduate School and a senior fellow at UC Berkely's Institute of European Studies.

Have we ever wonder why smart and powerful people make bad  decisions and ultimately lead them to commit blunders? Shore demonstrate how rigid thinking can lead us to undermine ourselves. In this book, he has listed several reasons  which we human so readily get caught in these cognition traps. 

This book will certainly makes you reflect on the mistakes that you have made and you begin to understand how these cognition traps affect decisions making.

We all make bad decisions simply because we are human.The resulting mistakes can be valuable but are we ready to learn from them?

The following are the seven cognition traps, insidious yet avoidable mind-sets:

• Exposure Anxiety: fear of being seen as weak

• Causefusion: confusing the causes of complex events

• Flat View: seeing the world in one dimension

• Cure-Allism: thinking that one size solutions can solve all problems

• Informania: an obsessive relationship to information

• Mirror Imaging: thinking the other side thinks like you do

• Static Cling: the refusal to accept that circumstances have changed

With each cognition trap, examples are drawn from history,politics,business,health care and popular culture to illustrate the profound impact blunders can have.

And as you read and go along with the flow of the examples,one can immerse oneself into thinking how these cognition traps affect our daily lives whether at home or in the work place and how it can help us all make wiser judgments.

Overall rating:9/10

  

Batu Pahat Merdeka Holiday 2014: A spiritual journey

We opted for a two day and one night Merdeka holiday trip to Melaka and Batu Pahat with my son as our two daughters have activities of their own.
This is a new attraction at the entrance of Jonker Walk: a ship replica of Admiral Cheng Ho which is perch high on top a pillar.
Although it was nostalgic for us to visit Melaka again, somehow or rather I can sensed that the excitement is missing. The crowd seemed much less and the hawker foods are just ordinary and overpriced: a bowl of normal cendol without the red beans and leong fun jelly cost RM 4 !
What I enjoyed most is chilling out by the river with my family, telling stories and watching the cruise boats carrying tourists to and fro.A relaxing feeling which can only be experienced here.

We left Melaka the next morning to Minyak Beku, Batu Pahat for a unique temple which is the main purpose of our trip.This temple attracts many local and Singaporean tourists who came by the bus loads.And the attraction? It is call 'moh yee' in mandarin which literally means 'touch fish'.
Once you reached Minyak Beku which is not far from the town, turn left immediately after the electricity pole number 92.
And the star of this attraction? It is the arapaima fish!
Many believed that if one managed to touch the fish, it will bring them luck in lottery. Like most devotees,we prayed for the well being of our family.
There are three ponds where the fishes are kept and each pond is surrounded by stainless steel grille. One needs to stretch the hand in the pond and hope for the fish to approach you so that you can touch it, if you are lucky.
Well, I managed to  touch the fish five times and my wife once.
Did we strike lottery? We will keep it a secret.

This is the cave of  fortune at the top part of the temple and  where the big arapaima fish is kept. Can you see the glittering gold surrounding us?

Let us make friend with the God of Fortune first before our wishes are granted.

Wow! One is trying to touch the fish and the other is ready to take the gold home!

With  the Goddess Mazu supporting behind us, we can feel that our wishes will come true.

OK! The God of Fortune is showing the way, lets follow the way to our dream destination!

                   Touching the tortoise for good health and longevity.

We visited this Chai Kun temple on our way back to Batu Pahat town. We were surprised to see many local and Singaporean tourists here too. As usual, many were offering prayers for lucky numbers.

All right, I have to admit that like all human beings, I have sinned and made mistakes in life. So, with this spiritual water from the Goddess of Mercy, I washed away all my wrongdoings and I asked for forgiveness.

Hatyai Holiday By Car: 26th July - 28th July 2014

Its Hari Raya holiday and the exodus of the KLites from the city has begun.We left our house at 4.30am and as expected, were caught in a jam towards Ipoh. However, it was a smooth journey after this juncture and we reached the Sadao Thai immigration check-point late evening, making this road journey longer than the 

one that we traveled in Sri Lanka of 13hrs. Hooray, we have broken the record! 

For Malaysian cars to enter Thailand, you need to buy a car insurance policy which cost us RM14. Just bring along a photostat copy of the car registration will do.

Seriously speaking, it was fun traveling with my family members in our superb first class highway.

First visit after done with the Thai immigration: Water View Restaurant to fill our hungry stomachs. To go to this restaurant, you need to make a U-turn in front of the 7-Eleven junction immediately after the immigration check-point and then turn left after the Oscar hotel towards Soi 4. Soi means road in Thai.You will drive thru a small rubber plantation with some houses and there are signs to guide you there.

The uniqueness of this restaurant is that the foods are delivered by a motorboat and is located beside a big lake with a serene view of lush greenery.The foods are yummy and price is above average, meaning not very expensive and not cheap either.

The ubiquitous Thai cuisine: Tom Yam Gung

The dishes here are delicious and are prepared in authentic Thai style. Do try their curry prawn which comes in big size and taste yummy.

Its prayers time the next morning to pay homage at the Four Face Buddha temple which is located at the top part of the cable car station at Municipal Park and is not far from Kosit Hotel where we stayed.
Well, I guessed my wife prayed for the three most necessities in life: happiness, health and wealth.

The cable car distance from the Four Face Buddha temple at the top to the lower station  is a short distance. With the ticket price at RM20, we felt it is a bit expensive and decided to skip the ride. Anyway, one can view Hatyai city at the hill and visit the tall Standing Buddha and Laughing Buddha at the lower station.

We were here at this Samila beach 25 years ago.How time flies and today, we took the same picture with the same  posture and with the same mermaid. After so long, the mermaid still looks beautiful, just like my wife.

This dragon park is located not far from Samila beach.It is interesting to note that the dragon is divided into three parts and one needs to locate them. The body part can be easily seen along the road and the head is located facing the sea. With water shooting out from the mouth like a fountain, it is a nice sight to behold. We did not locate the tail part as we were rushing back to the city. By the way, there is a Kuan Yin temple at the top of the hill as you approach  Samila beach.

This Phra  Maha Chedi Tripob Trimongkol temple is an architectural marvel as it is completely make of stainless steel. It was an adventure by itself for us to locate this hill top temple which is not far from the city. It is definitely 

worth a visit.

The floating market in Hatyai is entirely different from the one in Bangkok. While the former one are just food sellers on a stationed sampan, the later one is bustling with marketing activities on rowing sampans.

Most, if not all of the food sellers are muslims and being Hari Raya day, not many are opened for business.

Conclusion: It was a fun and an enjoyable holiday. It would be much better if we plan for a three nights stay instead of two to make it possible for us to visit Crystal Island.

Hatyai is a safe and clean city and in these aspects,in my opinion,is better than KL. With GPS and a map, it is easy to navigate in the city.

Oh yes, please bring plenty of cash. Everything seems to be cheap, from  food, pots and pans to .......clothing! At RM8 for a nice quality shirt,I bought 10 pieces!!!