If you are a student in Econometrics or Economics, the concept of marginal utility should ring a bell. From your first-year course in microeconomics to the more advanced courses later in your bachelor, the concept plays an important role in understanding microeconomics. The theory is founded on the premise that choices made by consumers are based on the preferences of the consumers. A rational consumer attaches more value to important things and gives up irrelevant items. The subjective theory of value was introduced by Carl Menger (1840–1921), one of the founders of the Austrian School […]
It is no surprise that the 19th century was a time of scientific breakthroughs and wondrous inventions. However, for the people of Philadelphia, this meant that for only one dollar they could admire the most amazing machine in the world: a machine that stayed in motion forever without any external source of energy. The inventor of this device was a gentleman called Charles Redheffer, and his invention attracted a lot of spectators from all over the state. His machine stayed in motion due to two weights which, using gravity, pushed a large horizontal gear away […]
The liberal democracy. For long, we have been led (or rather misled) to believe that the liberal democracy is the ideal system of governance. On one hand, it is true that democracies tend to give their subjects great freedom and prosperity. However, on the other hand, decision-making in democracies is negatively affected by emotions and biases. The average individual is politically uninformed, biased, and even incompetent, resulting in irrational decision-making. Perhaps, in our increasingly complex world, we need another system of governance. A system where rational political decisions are made to achieve optimal outcomes. Epistocracy […]
Reality is probably not what it seems. The simulation hypothesis proposes that all of reality, including the earth and the universe, is in fact, a computer simulation. This proposition is, in fact, based on fundamental principles of human reasoning. Billions of years have passed since the formation of the earth. Early carbon-based life forms have had compelling experiences, to say the least. Imagine for a second, that the senses we experience, the things we observe, are all but a simulation, in which we are the “sims”. Computational power is increasing at an unprecedented rate, unlike […]
Het einde van de mensheid, heb jij enig idee wanneer dat zal zijn? Nee, ik ook niet. Brandon Carter heeft in 1983 een poging gedaan om dit te bepalen met behulp van kansrekening. Echter wordt zijn theorie ook wel een van de meest betwiste toepassingen van de kansrekening op het echte leven genoemd. Carter maakt in zijn theorie namelijk gebruik van deuren met kleuren en cijfers. Aan de hand hiervan probeert hij een voorspelling te doen over wanneer de mensheid uit zal sterven. Maar is het wel mogelijk om het einde van de mensheid wiskundig […]
In Servië is ex-generaal Ratko Mladić opgepakt. Dat heeft de Servische president Boris Tadić op een persconferentie bekendgemaakt. Mladić zal worden uitgeleverd aan het Joegoslavië-tribunaal. Het is nog onduidelijk waar Mladić is gearresteerd. De 69-jarige Mladić had een andere identiteit aangenomen en noemde zich Milorad Komadic. Tadić zei in zijn toespraak dat de arrestatie van Mladić een hoofdstuk afsluit. “Het is een stap richting verzoening in de regio.” De arrestatie van Mladić is volgens hem het resultaat van de samenwerking van zijn land met het Joegoslavië-tribunaal. “Alle oorlogsmisdadigers moeten voor de rechter worden gebracht”, zei […]
Archimedes of Syracuse (287-212 BC) was a Greek physicist and mathematician best known for a very famous and amusing anecdote: the king of Syracuse had a golden crown made by a blacksmith. He distrusted the blacksmith and suspected him of not having used pure gold for the crown, but having mixed silver in. He had no method of finding out, however. He decided to give the crown to Archimedes to let him devise a solution to the problem. Later, Archimedes, while stepping into a bath, noticed that the water level rose exactly by his body […]
About one year ago, Venezuela’s neighbour Colombia was repetitively claiming headlines concerning the termination of decades of war with guerrilla groups. Consequently, Colombia’s history was scrutinized to put these headlines into context. Currently, Venezuela has taken over these headlines from Colombia. Unfortunately, Venezuela is not on its way up as Colombia was, but this does not mean that the regular news that we read paints the full picture. Throughout the past months, we have all seen what has come of Venezuela under the cruel reign of Maduro and his government. While there are daily protest […]
In een drieluik van artikelen zullen Tim van Schaick en Lasse Vuursteen de illustere wereld van de internetmemes induiken. Het doel: de culturele, maatschappelijke en politieke relevantie verkennen. In dit eerste deel: wat zijn memes, waarom zie je er zoveel tegenwoordig en op wat voor manier zijn memes relevant voor de zeitgeist in het informatietijdperk?
Imagine the world of mathematics without operators or even numbers. A long time ago, there were no such notions as a minus sign or π. It will be clear to everybody that hardly any serious mathematics can exist without a form of written language. Throughout history several civilizations contributed to the system of mathematical notation as we know it now. The earliest discoveries of something that could be used as a form of mathematical notation is the Ishango bone. There is discussion about the antiquity of the bone, which was found in 1960 by the […]
The american involvement in Vietnam was an assembly of different causes during various periods of time. Along the way the United States became deeper and deeper involved mainly due to the Cold War. The media attention resulted in riots by the people/students and in extra traumas for the soldiers.