Dear all, Upon inheriting the Looking Glass from our predecessors, we identified a number of key issues. Firstly, there were simply not enough articles being published, due both to a lack of submissions from the school community and limited responsiveness from the previous Academic Team. Secondly, the Looking Glass had not been advertised or explained effectively enough to the wider school community. As a result, we plan to implement a more consistent and engaging stream of articles on the Looking Glass. As part of this initiative, we are looking to recruit a select group of keen writers from across the lower school who would be willing to produce one high-quality piece of writing, discussion, or media each month for publication on the Looking Glass. We believe this will be hugely beneficial both to the school community, which will gain access to a wider range of opinions and viewpoints, and to prospective writers, who will be able to reference their experience contributing to the Look...
PRANEETH UDATHU (U6) Rational economics has failed to explain a lot about what is happening around us, from the aftermath of the 2008 financial crisis to consumers buying mountains of toilet rolls during the COVID-19 pandemic. Traditional classical economics does not take into account the irrationality of human decisions as well as how humans are social creatures. This mix of psychology, biology and many other subjects have led economists to believe we are not fully rational. This rationality can be seen in many areas, but one that firms may be particularly interested in is how humans have a massive differentiation between Social Norms and Market Norms. Social Norms refer to a standard behaviour shared by members of a social group. Often, these are not rigid rules enforced by law but rather societal expectations that are commonplace. Meanwhile, the Market Norms refer to actions that imply comparable benefits and include a payment. These include wages, contracts, prices and interes...