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Does the TJN ever actually think about what it publishes?

They\’ve a new report out. How having a large financial sector is bad for a place.

It\’s worth looking at this chart.

By their method of measurement Cuba is a better place to live than Luxembourg. Or Singapore, Hong Kong, the UK, Barbados and so on. Armenia is better than all of those, Albania.

It\’s the sort of result that would have sensible people seriously considering their ranking methodology. Not the TJN though, they actually go to print with it.

18 thoughts on “Does the TJN ever actually think about what it publishes?”

  1. Interesting – they rank Kazakhstan ahead of Denmark. Staff from my organisation visiting one of those two countries are routinely offered security briefings and a bodyguard for the duration of the visit. Guess which one it is?

  2. They really shouldn’t mix rankings like that. International rankings are natural number-valued orderings of nations, but the characteristic being ranked may not decline continuously. It may be the case that the 20th country in a particular ranking is much better than the 21st.
    Plus, the number given is “GNI per capita rank minus human development rank”. If a country topped both rankings, and so was the best country in terms of both GNI per capita and human development, then the difference between rankings is 0. The best country would be ‘beaten’ by a country that was last in GNI per capita, but the penultimate-ranked country in terms of human development, since its difference would be +1.
    This is a nonsensical metric, and ranking countries by the sum of the two ranks would be better.

  3. The authors actually do recognise the problems, but discuss them in a footnote on page 17:
    The “GNI ranking minus HDI ranking” is not
    our construction but the UNDP’s. The table should be treated merely as illustrative – but the pattern is clear enough to be worth showing. One failing of the UNDP’s methodology is that by subtracting one ranking from another one is using ordinal numbers (1, 2, 3, 4 … ) when a closer comparison would look at the underlying data (based on cardinal numbers, which may involve different orders of magnitude). In addition, the HDI incorporates an income per capita component (given a weighting of one third in the index), which muddies the comparison somewhat —though by doing this the current HDI tends to ?atter countries with high income per capita: so removing this complication would tend to make our graph even more dramatic. Some commenters on drafts of this paper also expressed doubts about the methodology of the UN’s Human Development Index itself. Note that this chart takes only those countries exhibiting high or very high human development, for which the relevant data is available. This is because ?nance-dependent economies are found exclusively in these higher-income categories.

    Read that again: “This is because finance-dependent economies are found exclusively in these higher-income categories.”

  4. TranSaCtIon TaX nowz!

    But what about exemptions for market makers?

    TranSaCtIon TaX nowz!

    Yes but what about exemptions for market makers? We dont want to cascade that tax across one transaction, do we?

    WhATs A MaRkEt MaKer?

    The individual responsible for making a market.

    I hAvE iT oN gOoD autHoRiTy ThAt tRaDiNg LoTs Is bAd fOr EcOnOmy

    What do you mean?

    I wAs ToLd, By ah FriEnd

    Yes but even so what about market makers?

    TranSaCtIon TaX nowz!

    Oh for fuck sake.

    GeTz ZeE BanKeRs!!

  5. So Much For Subtlety

    By their method of measurement Cuba is a better place to live than Luxembourg. Or Singapore, Hong Kong, the UK, Barbados and so on.

    There are any number of people in Britain who think Cuba is a wonderful place to live. And no doubt would rank it higher than Denmark.

    I imagine a lot of them ending up working in places like the TJN. I do not think it is a bug for them but a feature.

  6. I’d rather live in Cuba than Downham market – if I had money and influence.

    BIS – Enver Hoxha. I recommend Theodore Dalrymple’s ‘The Wilder Shores of Marx’ (available as an ebook or a second hand hardback) for more on Hoxha, Kim, Fidel and the rest of them.

  7. Thanx @interested for the spellcheck but my disinterest in the man is profound. The only other trivia surfaces, I believe he was a big fan of Norman Wisdom.

  8. JP @ #1

    You haven’t provided enough information, we need to know if during their visit they intend drawing pictures of pedoMo with a bomb in his turban.

  9. The simple way to rank out the desirability of living in a country would be to rank them by emigration – immigration (legal and illegal).

    I suspect the chart would look a lot different.

  10. sake, can’t you even accept a post that points out that you’ve mistyped or even correct your typo?
    When correcting the typo you could even apostrophe sake change “rad” to read, which makes you look careless. And your reply looks silly except to idiots. So your best move is to correct your typo in line with my previous post and pretend that I didn’t have to point it out.”
    If he was worth it I should keep a file of my posts to Murphy and TJN

  11. interesting “apostrophe” is automatically deleted by the web=server so the programmer wants to use old-fashioned grammar constructions with “of”

  12. The funniest thing is that New Zealand appears very high in that chart and it’s the most ‘neo-liberal’ country in the world. It’s also a tax haven by Murphy standards.

  13. I note that Ireland and Iceland (both -finance-) are in the good part but no longer have the red bars….

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