Economics - An Awkward Corner

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Tuesday, May 12, 2009 1:14 PM

Dating, Marrying, Spending

A colleague walked up to me yesterday and asked: "What is the secret of a successful marriage?" This was not the begining of some existential discussion on the battle of the sexes but rather some very primary research for something she was working...
Posted by Niranjan Rajadhyaksha | 5 comment(s)
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Monday, March 16, 2009 4:23 PM

Introspection Time For Economists

It is by now widely accepted that the economic crisis has blown away the comfortable consensus that ruled academic and policy economics for maybe at least two decades. It is now introspection time. Willem Buiter posted a typically sharp and caustic attack...
Posted by Niranjan Rajadhyaksha | 3 comment(s)
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Sunday, March 01, 2009 10:34 AM

Question: What Variable Should The Fiscal Stimulus Target?

Government around the world have been running up higher fiscal deficits in a bid to support their economies. But should there be an explicit variable that they should target? Christina Romer, a fine macroeconomist and chief of Barack Obama's Council...
Posted by Niranjan Rajadhyaksha | 13 comment(s)
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Wednesday, February 25, 2009 6:20 PM

Foxes, Hedgehogs, Forecasters

How much do stock market analysts and economists really know about the future? Not as much as some of them claim --- or claimed till recently. A professor of organizational behaviour offers us some simple rules to understand which economic and stock market...
Posted by Niranjan Rajadhyaksha | 4 comment(s)
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Friday, February 20, 2009 2:49 PM

And Now: Balance Sheet Recessions

The pace at which economic activity is shrinking around the world despite huge government interventions has experts worried and puzzled. Just as there is a new respect for unconventional policy measures --- from zero interest rates to bank nationalizations...
Posted by Niranjan Rajadhyaksha | 2 comment(s)
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Friday, February 06, 2009 9:00 PM

Satyam, Raju And Two Cows

Remember the use of two cows to illustrate the difference between capitalism, socialism, communism etc? Socialism You have 2 cows. You give one to your neighbour. Communism You have 2 cows. The government takes both and gives you milk. Fascism You have...
Posted by Niranjan Rajadhyaksha | 7 comment(s)
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Tuesday, January 06, 2009 6:09 PM

The Raghuram Rajan Fan Club

Raghuram Rajan is widely regarded as a Very Smart Guy. He once co-authored a book called Saving Capitalism From The Capitalists . His new theme seems to be: Saving Finance From Financiers. Rajan was attacked and ridiculed by many of the world's best...
Posted by Niranjan Rajadhyaksha | 10 comment(s)
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Sunday, October 26, 2008 9:41 AM

The Keynes Revival

The worst financial crisis since the Great Depression has led to renewed interest in the economist who towered over all his clueless peers in those turbulent times --- John Maynard Keynes . Keynes' legacy has been controversial and many believed that...
Posted by Niranjan Rajadhyaksha | 18 comment(s)
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Tuesday, October 14, 2008 4:38 PM

Paul Krugman --- The Indian Connection

There is no doubt in my mind that Paul Krugman richly deserved the Nobel Prize in economics. The Nobel prize committee usually does a good job explaining in simple English what the prize has been given for. It's no different this year. Read this note...
Posted by Niranjan Rajadhyaksha | 16 comment(s)
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Sunday, September 07, 2008 1:25 PM

Kashmir And The Economics Of Secession

At least three respected commentators --- Vir Sanghvi, Pratap Bhanu Mehta and Swaminathan Aiyer --- have argued of late that it is time to allow Kashmir to leave the Indian Union. I personally think it is a bad idea. 1. There is a great likelihood of...
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Thursday, August 28, 2008 5:10 PM

Memorable Lines: Or, Coase, Hayek and Socialism

"I regard socialism as merely a question in transaction cost economics. Almost everyone else thinks it’s a matter of striking moralistic poses." That's Chris Dillow here . I tend to agree. Socialists should stop being moralistic and read...
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Thursday, August 28, 2008 4:42 PM

Inflation 101

I wish more Indian politicians and, alas, economists read this little explanatory note by Steve Horowitz. Hopefully that will help counter the popular view that our current tryst with high inflation is because of oil prices rather than excess money supply...
Posted by Niranjan Rajadhyaksha | 2 comment(s)
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Friday, August 22, 2008 8:53 PM

Mobiles Help The Poor: Even Jeffrey Sachs Says So

"The digital divide is beginning to close," announce Jeffrey Sachs in Guardian, the British newspaper. Read the full article here. He says the world's poor have benefitted immensely from mobile technologies. "Extreme poverty is almost...
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Wednesday, August 20, 2008 3:01 PM

The Next Big Idea?

We all love a smart idea that is easy to explain and that can be casually thrown into weekday presentations and weekend conversations. Think Long Tail, Wisdom Of The Crowds, World Is Flat, Blink and so on and so on. Here's one candidate for the Big...
Posted by Niranjan Rajadhyaksha | 1 comment(s)
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Tuesday, August 19, 2008 1:27 PM

Give Them Cake ... Sorry, Cash

Mexico has run a social security programme whose success has attracted worldwide attention. The system is called "conditional cash transfers" --- the government transfers cash to poor households who meet certain very simple obligations, such...
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