5.15.2011

Dark people and the blonde

At first glance, these pictures and the trial smelled of racism. They went after the Indians on Wall Street. The perfect markets were spoiled by these guy! And a blonde. Just these guys? And then this article about income and religion (or education or culture).
We had this game in business school, where we had to negotiate with a colleague the price of I don't remember what. I set a moderately low price and did not budge for one hour as my colleague was offering half that price and so on. At the end there was no deal. In the post-analysis this Sri Lanka colleague explained that in his culture a deal involves a long process of negotiation with exaggerated demands and miser offers. Could ot imagine I was firm.
 So what am I saying? What is the moral of the recollection? Markets have their own culture (or religion), As about education.... Later on our top professors left the school and its "games" to meet the true markets. They went bankrupt.

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