Viewing profile — mjohn

That's a bit unfair. The Baumol effect is well known to most people in the author's audience. If you had clicked on the link to his book you would have found out that it's availabl…

Sure, why not, I'm just thinking out loud to be honest and am probably biased towards feeling quite comfortable using something like ChatGPT. I don't ask ChatGPT to write code for …

I've never tried it, but in the age of AI why not ask candidates to interact with ChatGPT to solve a problem? In my (limited) interviewing experience the good candidates were the o…

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No, because it's often very hard to estimate until you're actually working on something. It's common to get a consensus estimate that something is "easy" only for some poor develop…

In the UK there are regulations that require casinos and other gambling venues to block access if a problem gambler doesn't show restraint. It's much like how we would expect a bar…

In economics we would call the latter a Pareto improvement - ie an efficiency improvement without any trade off

That's a bit of a simplification. From £9.5k to £50k you pay 12% national insurance in addition to income tax, so it's really 32% not 20% tax. Over £50k you pay 2% national insuran…

I pretty much agree with you, if the client doesn't have any in-house expertise and stays hands-off then you get the scenario I described but outsourcing can work if it's in additi…

I recently joined a company where my main task is to modernise a business critical application built and supported by Wipro over ten years ago. Everything is still on .Net 3.0 (fir…

Privacy is not just relevant to advertising. There are a huge number of research opportunities in the social sciences that could benefit and can help make the world better.

Could be differences in risk tolerance. A portfolio of government bonds, for example, would be expected to have a lower return than the S&P.