Snow. Cold. When they gang up on you, the roads turn into skating rinks. For the first time, I had to use the 4WD just tooling around town. Of course, the Jeep is rear-wheel drive normally, not front-wheel as I'm used to, but even 4WD doesn't help your braking all that much. It just means that you slide straight. The snow's still coming down even now, but tomorrow's supposed to be sunny, so perhaps there will be photo-ops anew.
So having finished the NASD licensing steeplechase, and not yet having renewed the Quest for the CFA, I've got a little time on my hands in the evenings, and I've decided that at least one of the adult ed classes at the shul must be for me. Last night I tried out the beginning Talmud class - the nth beginning Talmud class I've tried - and it went pretty well.
Business-halachah-legal geekery follows immediately.
We're learning Tractate Makkot, and it deals in part with the penalties for perjury in civil cases. The basic rule is that if you lie under oath as a witness, and if that lie would have cost someone money, you owe that person damages equal to what you tried to cost them. So if you falsely claim that someone stole $1000, and that lie is uncovered and the claim denied, you owe the accused $1000, since that's what you tried to do him out of.
Apply this to a loan. You claim that Bob borrowed $1000 for 30 days and now needs to pay it back. Bob claims the loan was for 10 years. What would your lie have cost him? Not $1000, since everyone agrees that he needs to pay that back anyway.
In fact, you'd owe Bob what he would have been willing to pay to have the money for 10 years, minus what he'd be willing to pay to have it for 30 days. I'm not sure how they would have calculated this back in 200 CE, but nowadays, you'd just apply the short-term and long-term interest rates to determine the value of having the money on hand. (There are halachic issues with charging interest, but set those aside for the moment.) In short, the raabis understood, at least at some level, the notion of opportunity cost and the time value of money.
Pretty neat, huh?
Less neat is this week-old piece from the Denver Post about minority enrollment at CU. Since this is a report about a report (a Boorstinian pseudo-event of the first order), objections to the diagnosis and prescriptions are anticipated and dismissed:
The study accused flagship universities of blaming their low diversity on inadequate state funding and the K-12 system.
Instead, they should direct more financial aid to low-income students, recruit minority students more aggressively and focus on helping minority students succeed in college, the report said.
Unasked by the reporter or by the CU administration: of the Colorado high school graduates who qualify as "minorities" under their definition, how many can actually read at 12-grade levels, and why is it CU's job to remediate this problem?