We have piles of evidence to show that people overtrust their judgment and overestimate their goodness. Also, there is no easy correlation between self-esteem and actual performance….

This leads to my final question: In society generally, are more problems caused by overconfidence or underconfidence? The financial crisis and the tenor of our political debates suggest that overconfidence and self-idolatry are by far the larger problems. If that’s true, how do you combine the self-critical ability to recognize your limitations with the majestic confidence required to struggle against them?

I guess I’m asking how to marry self-criticism and self-assertion, a blend our society is inarticulate about. I guess I’m wondering, as we make this blend, whether most of us need more of the stereotypically female trait of self-doubt or the stereotypically male trait of self-promotion.

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This week, legislators here will consider excise and sales taxes on marijuana of up to 30 percent combined. The proposal emerged from a task force of health officials, representatives of the state’s rapidly developing marijuana industry and others that was commissioned last year to help develop rules for marijuana.

The goal, task force members and lawmakers say, is to set taxes high enough to finance the administration of new laws, but not so high that customers are driven back to the black market.

“We should see a financial benefit as a state that can help pay for enforcement and other fundamental issues,” said Christian Sederberg, a Denver lawyer on the panel whose firm helped draft Amendment 64, the measure legalizing recreational marijuana. “The other side is that if you tax something too high, then you simply crowd out the regulated market. We’re confident we’ll find the right balance.”

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Check out this resource for your awareness and prayers.

There are few better places in the world where Tim Keller could write a book about career and calling. “New York City is a place where people live in order to work,” says the pastor of Redeemer Presbyterian Church in Manhattan and author most recently of Every Good Endeavor: Connecting Your Work to God’s Work (Dutton). “They basically live more in their work than in their neighborhoods. That . . . means that if you start talking about work, you get right at their hearts.”

In a recent sit-down conversation with This Is Our City executive producer Andy Crouch, Keller explained why he wanted to write a more comprehensive book about faith and work, how he learned to answer congregants’ questions about their work, and what Redeemer has done to equip laypeople to live into their vocations outside the church.

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Culture change in financial services will not be achieved by “light touch” or “heavy touch” regulation, Archbishop Justin said at a Westminster discussion organised by the Bible Society.

Instead the banking sector must adopt “an aim of service to society and not mere rent-seeking, and a culture of virtue based in the realities of daily life and not a fantasy nirvana,” he said.

Describing what this change of culture might look like, the Archbishop said it would require “a ruthless honesty and a deep willingness to be made very uncomfortable indeed through listening to things one does not want to hear”.

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Speaking at a Parliamentary event on “finding long-term solutions to the financial crisis”, Archbishop Welby said there needs to be a “revolution in the aims” of banks to ensure they serve society rather than “self-regarding interest” or even just shareholders.

“What we’re in at the moment isn’t a recession but some kind of depression,” he said. “It needs something very, very major to get us out of it, in the same way it took something very major to get into it.”

The Archbishop, who sat on the recent Banking Standards Commission but said his ideas were not those of the Commission, also called for professional banking standards to be introduced as a way of transforming ethical standards in banking.

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Imagine a world with machines that wash, press and dress you on the way to work and vacations via hologram visits to exotic beaches. In his new book, The New Digital Age, Google Executive Chairman Eric Schmidt does just that ”” but it’s no gee-whiz Jetsons fantasy.

Schmidt partners up with Jared Cohen, a foreign policy counterterrorist specialist poached from the State Department now working for Google Ideas. Together they forecast a raft of new innovations and corresponding threats that will arise for dictatorships, techno revolutionaries, terrorists and you.

Cohen and Schmidt chatted with NPR’s Audie Cornish about negotiating the shifting balance between privacy and security in a rapidly changing technological landscape.

Read or listen to it all.

In March, 7.6 million Americans who want more hours were stuck in part-time jobs, about the same as a year earlier and three million more than there were when the recession began at the end of 2007.

These almost invisible underemployed workers do not count toward the standard jobless rate of 7.6 percent. A broader measure, which includes the involuntary part-timers as well as people who want to work but have stopped looking, stands at 13.8 percent.

“There’s nothing inherently wrong with people taking part-time jobs if they want them,” said Diane Swonk, chief economist at Mesirow Financial in Chicago. “The problem is that people are accepting part-time pay because they have no other choice.”

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[…An] important strand of the British effort is what the UK government calls the “Prevent” strategy. This involves the police and local authorities working with Muslim organisations and communities to ensure that British nationals who become radicalised are identified and encouraged to channel their anger before they resort to violence.

Professor Michael Clarke, an expert on counter-terrorism at the Royal United Services Institute, a think-tank, says the strategy has had some success. “It is about getting the Muslim community to accept responsibility for people in their midst, helping to identify those who are radicalised and working with the police and local authorities to stop them before they plan attacks,” he says….like a number of UK experts, he argues that the US has been slow to tackle “homegrown” jihadism pre-emptively. “The Americans find it hard to accept that jihadism can arise from within their own society. They still feel the phenomenon is pushed into the US by outside forces or foreign actors.”

Read it all (if needed another link is there).

My read of the evidence is that the Affordable Care Act will have a much tougher first year than was initially anticipated but it won’t be the catastrophe that Republicans hope. The exceptions will be a handful of states where Republican governors have purposefully made it a catastrophe, but that’s likely to make the Republican governors look bad, particularly if the law is working smoothly in states that have tried to make it a success.

Conservative commentary on the law, with its continuous predictions of explosive premium hikes (and continuous omissions of the offsetting subsidies) and gleeful celebration anytime anything looks to be going wrong, is risking the mistake that the Obama administration made early on with the sequester. When the predictions of pain and chaos didn’t instantly come true, the whole narrative shifted in an instant.

Republicans have done a very good job prepping the country for the pain of Obamacare. They’ve not done a good job prepping the country for the people who will be helped by Obamacare.

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South Carolina’s job market is on the brink of widespread recovery, reaching the lowest unemployment rate last month in four and a half years, economists said Friday.

The state’s jobless rate dipped to 8.4 percent in March from 8.6 percent in February, with every county in the state showing improvement, according to a report from the S.C. Department of Employment and Workforce. The national rate fell to 7.6 percent from 7.7 percent.

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[Archbishop Vincent] Nichols is hardly alone ”“ and not wrong ”“ in worrying that some businesses have ethical problems. The concern explains why business ethics has become a standard part of the curriculum in MBA programmes, and the existence of numerous initiatives to promote corporate social responsibility and other virtues. The main problem with these worthy efforts is blandness: it’s not clear what business ethics classes are supposed to teach or what, for example, should be the aim of the Westminster archdiocese’s programme “A Blueprint for Better Business”.

One possibility is that ethical instruction should induce qualms. Moral training might have restrained the captains of finance from excessive bets and pay demands before and after the 2009 crisis, but I doubt it.

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At this time of year, when most Americans have just filed their returns, exasperation with the income tax system reaches a peak. Hardly anyone denies it’s a complex mess. In 2010, calculating their taxes cost Americans $168 billion, estimates the Taxpayer Advocate Service of the Internal Revenue Service. That’s about 15 percent of taxes collected ”” a heavy overhead. Almost 60 percent of taxpayers pay accountants or other tax preparers. Public esteem for the tax system is low; in a 2011 Pew poll, 55 percent judged it unfair. Disaffection was fairly even politically: 47 percent among Republicans, 58 percent among Democrats and 56 percent among independents.

So “tax reform” ought to be a cinch, right? Well, no.

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A lingering fog of uncertainty at the Boeing Co. campus in North Charleston lifted Friday when the Federal Aviation Administration agreed to clear the company’s 787 Dreamliners to fly again.

The revolutionary jet has been grounded since January because of batteries that overheated on two of the planes.

Flights could resume within a week, the Associated Press reported.

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Whatever struck you, provoked you, moved you; whatever part of it which you believe is most significant or worthy of further consideration. Remember the more specific you are, the more other blog reads can participate in what you say–KSH.

The crowd that had gathered ”” lighting candles, offering prayers, crying as they tightly embraced family and friends ”” had streamed from the dimly lighted sanctuary of Assumption Catholic Church, but Kelly Nelson lingered behind.

“The people who we lost, these are people I know, I see on a daily basis,” Nelson said. “Knowing that I’m never going to see these people on the Earth again is very difficult for me to handle.”

On Wednesday night, a blast at a fertilizer plant rocked this small east-central Texas town. A day later Nelson and hundreds of others gathered in the red brick Assumption church. Nelson wasn’t the only one to stay behind after the service concluded. A pair of young men sobbed as they knelt before the altar. Others stared blankly forward as they sat in the pews. In a time when residents of West sought hard-to-find clarity, they are relying on faith.

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In the waning moments of daylight, police descended Friday on a shrouded boat in a Watertown backyard to capture the suspected terrorist who had eluded their enormous dragnet for a tumultuous day, ending a dark week in Boston that began with the bombing of the world’s most prestigious road race.

The arrest of 19-year-old Dzhokhar Tsarnaev of Cambridge ended an unprecedented daylong siege of Greater Boston, after a frantic night of violence that left one MIT police officer dead, an MBTA Transit Police officer wounded, and an embattled public ”” rattled again by the touch of terrorism ”” huddled inside homes….

“It’s a proud day to be a Boston police officer,” Police Commissioner Edward F. Davis told his force over the radio moments after the arrest. “Thank you all.”

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The search for one of the Boston Marathon bombing suspects — the man seen wearing a white baseball cap — this morning led to the sudden shutdown of the MBTA’s entire network of commuter rail, bus, and subway services.

State authorities also asked people who live in Watertown, Waltham, Newton, Belmont, Cambridge, and Allston-Brighton to stay home and for businesses in those cities and towns to stay closed.

“We are asking you to stay indoors, to stay in your homes for the time being,’’ Kurt Schwartz, who leads the state’s homeland security department, said at a 6 a.m. press conference today. “We are asking business in those areas to cooperate and not open today until we can provide further guidance.’’

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The FBI today released photos and video of two suspects in the deadly Boston Marathon terror bombings case, appealing to the public to help law enforcement officials find them.

“Somebody out there knows these individuals,” said Richard DesLauriers, special agent in charge of the Boston FBI office. He said the two men are considered “armed and dangerous.”

DesLauriers described the two men as Suspect No. 1 and Suspect No. 2. Suspect No. 1 was wearing a dark hat. Suspect No. 2 was wearing a white hat.

DesLauriers said Suspect No. 2 was observed planting a bomb, leaving it in place shortly before it went off.

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The bishop of the Episcopal Diocese of Western Massachusetts, which includes Worcester and surrounding communities, said today that he is against the proposal to locate at $200 million slots parlor on the former Wyman-Gordon Co. parcel in Green Island.

“For those who have little, the illusory chance that they can gain much, even in a game stacked against them, is tempting and ultimately destructive,” said Bishop Douglas J. Fisher. “Our churches stand with the economically poor of our society, and that always means taking a stand against gambling establishments in our cities.”

Bishop Fisher is the latest prominent church leader to take a stand against the proposal.

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Commodity prices have been falling since September, culminating in a rout over the past two weeks. That is a classic warning for the global economy.

It is becoming ever clearer that the roaring boom in global equities since last summer has priced in an economic recovery that does not in fact exist. The International Monetary Fund has had to nurse down its global growth forecasts yet again. We are still stuck in an old-fashioned trade depression, with pervasive over-capacity in manufacturing plant and a record global savings rate of 25pc of GDP.

German car sales fell 17pc in March. That should puncture the last illusions that Germany is about to pull Europe out of a self-inflicted slump.

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Senate Finance Committee Chairman Max Baucus, one of the health reform law’s chief authors, says he’s worried about a “huge train wreck coming down” if the Obama administration doesn’t improve its public outreach about the legislation.

Baucus, a Montana Democrat who is up for reelection in 2014, sharply criticized the administration’s outreach efforts in a budget hearing on Wednesday. He told Health and Human Services Secretary Kathleen Sebelius that people and businesses “have no idea what to do, what to expect” from the law.

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We have no way of knowing how this all ends. One problem is that the smartest solution””having Germany and perhaps a handful of other northern countries leave the euro for a new currency (the Deutche Mark 2.0, or a “neuro” for northern Europe)””would make life easier in the south. The south based euro would fall in value, but since debts and contracts are denominated in that currency, the adjustment would be the same as in a normal devaluation. This course would likely lead quickly to a new burst of growth in the south, though inflation and other problems would take a toll over time.

But the euro’s break up day would cause a lot of problems for Germany and its northern friends….

So we’re in an interesting situation. The crisis is crippling the south, but the south has no power to resolve the crisis. The crisis isn’t comfortable for the north but still looks less painful than the solution. So the north, which has the ability to resolve the crisis, doesn’t have the will to do it and the south, which has the will, lacks the ability.

Read it all (and please note that the Financial Times article by Wolfgang Münchau which is mentioned, entitled “The riddle of Europe’s single currency with many values,” is indeed a must read as Mr. Read says).

There is a great graphic here and some comment there.

The powerful blasts at the Boston Marathon finish line Monday underscore why the Federal Bureau of Investigation has spent years refining its “tripwire” system for catching would-be bomb makers before they can build a deadly device.

For years, federal agents have asked businesses that sell materials useful in making bombs to alert authorities to any suspicious orders. The types of tripwires in place have shifted over the years. In the 1990s, law enforcement worried mostly about fertilizer-based bombs after such devices were used in the Oklahoma City attacks of April 1995. In the past decade, chemical-based bombs have come into focus as authorities adapt to the changing threat.

“The tripwires have certainly been successful in the past,” said Don Borelli, a former counterterrorism official at the FBI who now works for Soufan Group.

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“Leading the conversation” is how you end up with the major Sunday shows somehow neglecting to invite a single anti-amnesty politician on a weekend dominated by the immigration debate. It’s how you end up with officially nonideological anchors and journalists lecturing social conservatives for being out of step with modern values. And it’s how you end up with a press corps that went all-in for the supposed “war on women” having to be shamed and harassed ”” by two writers in particular, Kirsten Powers in USA Today and Mollie Ziegler Hemingway of GetReligion ”” into paying attention to the grisly case of a Philadelphia doctor whose methods of late-term abortion included snipping the spines of neonates after they were delivered.

As the last example suggests, the problem here isn’t that American journalists are too quick to go on crusades. Rather, it’s that the press’s ideological blinders limit the kinds of crusades mainstream outlets are willing to entertain, and the formal commitment to neutrality encourages self-deception about what counts as crusading.

The core weakness of the mainstream media, in this sense, is less liberalism than parochialism….

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To tax reform advocates, the federal tax code is a shambling behemoth, its immense girth weighing down corporations and Jane and Joe Taxpayer alike. The code is more than 4 million words long and has been tweaked 4,680 times since 2001, or more than once a day, according to the Internal Revenue Service’s National Taxpayer Advocate, whose job is to champion the poor schlubs who have to contend with the US tax system. Compliance takes more than 6 billion person-hours a year and costs $168 billion, the advocate’s office reports.

Tax expenditures ”“ the sober name for myriad loopholes, carve-outs, and incentives in the code ”“ shield almost as much in revenue, at just over $1 trillion, as the $1.4 trillion collected each year.

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In another sign of the housing market’s brightening outlook, more home buyers are discovering conventional loans with down payments well below the 20% or higher levels of recent years.

Until recently, many borrowers had to go through a government guaranteed loan program, such as the Federal Housing Administration (FHA) or the Department of Veterans Affairs, to get a mortgage with less than a 10% down payment.

Now, a growing number of lenders are offering such mortgages without the backing of a government guarantee ”” the definition of a conventional loan.

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The US Supreme Court is scheduled on Monday to take up a case with widespread implications for scientific innovation and health care in the US. The question: Are human genes patentable?

The issue arises in a challenge to patents held by Myriad Genetics, a Utah-based diagnostic testing and research firm that developed a way to detect genetic mutations (called BRCA1 and BRCA2) that scientists associate with a higher risk of breast and ovarian cancer.

The process is described by the company’s lawyers as akin to locating a particular grain of sand in a space the size of the Empire State Building. The tests have helped over a million patients identify risks and develop treatment strategies….

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The Bishop of Grantham has criticised the scale and cost of Baroness Thatcher’s funeral, describing it as a “mistake” which may play into the hands of extremists.

The Rt Revd Dr Tim Ellis said the ceremonial event at St Paul’s Cathedral on Wednesday, costing up to £10 million, was “asking for trouble” amid divisions about the late prime minister’s legacy….

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