Zen And The Art of Fixing My Sink

I might have thought this was just a peculiar attitude of theirs about motorcycles but discovered later that it extended to other things … Waiting for them to get going one morning in the kitchen I noticed the sink faucet was dripping and remembered that it was dripping the last time I was there before and that in fact it had been dripping as long as I could remember. I commented on it and John said he had tried to fix it with a new faucet washer but it hadn’t worked. [Read More]

What Are Discounted Earnings?

The other day I was reading research from way back in 2011: Chetty, Friedman and Rockoff’s fascinating and multifaceted study on the long-term financial impacts of teacher quality on students. The study draws some conclusions on the impact of teachers on lifetime earnings of their students, referencing the concept of present value. Read on: At age 28, the oldest age at which we currently have a sufficiently large sample size to estimate earnings impacts, a 1 SD increase in teacher quality in a single grade raises annual earnings by 1. [Read More]