The Wednesday Briefs 175 - 5 July 2023

THIS WEEK: College Admissions; Three Oil Surprises; The Lottery of Birth Place and Time; The Whisperer; S&P Sectors Update.

COLLEGE ADMISSIONS

Should college admissions be based solely on an applicant’s own merit, his hard work, grades and extracurriculars? Should a college strive to create an optimal (in their view) mix of races on campus to improve students’ exposure to diversity, and to offset the years-long dominance of whites? Is it fair that an African-American, say a descendant of slaves, should have better odds of admission at a top college than a similarly qualified white or Asian person?

Most reasonable people would answer these questions with “yes, but” or “maybe” or “no, but” because these questions do not lend themselves to simple answers.

Take the first one. If candidate A grows up in a supportive household and gets expensive tutoring, his grades and test results may be considered his merit. But it is possible that another, less fortunate candidate B who grew up in a poor or broken household woul…