Why aren't hedge funds failing as fast as banks? | Chris Dillow - Times Online

Why aren't hedge funds failing as fast as banks? | Chris Dillow - Times Online

Key sentence: "state ownership, for all its obvious faults, can be less dangerous than dispersed private ownership."

I don't know well how the hedge funds are performing recently or whether hedge funds have a better owner-manager structure. But I agree in theory, except for the last part about Shiller. I am not sure how it is consistent with the less dispersed ownership.


Division of a state could make people happier

Visalia Journal - Farmers Lead a Bid to Create 2 Californias - NYTimes.com
I came to believe having more choices in the type of government to live under is the way to go. This applies to Korea, and probably many countries, where people with differing views fight all the time competing for the single prize of the central government.
In the current democracy, you basically take turns. We live happily for some years, and complaining for the others. Imagine how painful you will be if you are required to use Apple or Windows, whichever is not your preferred OS, based on a poll. Is having a government whose policies you don't like less painful than using an OS that you don't prefer?
A big and powerful country have been a desirable thing, just like a large corporation has been. But the reality is that the advance of technology and the way people work together is making it much less so.
Actually, if politics reflects the underlying economic reality, I think this, more choices of government, will happen following what's happening in the market.
Whether it is delegating more authorities to the local provinces or spliting jurisdiction, we need to figure it out.


Artpoli Gallery for iPhone (and iPod touch)

Artpoli Gallery+ for iPhone (and iPod touch) has just been launched. With + version, which is priced at $1.99, you can save the images to use as wallpapers, etc. The no + version, priced at $0.99, does not allow saving outside the app.
We have some promo codes, with which you can download Artpoli Gallery for free. If you like to have this, let me know. You can have either + or no + version, but I guess the + dominates when both are free.