Assorted Links

1. WSJ Blog says Milton Friedman wasn’t right about everything.

2.PSD Blog points out to a new paper that says expansion of Bank branches in US has lowered income inequality not by usual factors like providing credit etc but by effecting labor markets. As the authors say:

Reductions in the earnings gap between men and women and between skilled and unskilled workers account for the bulk of the explained drop in income inequality.

3. Move on Private Equity/Hedge Funds, welcome Sovereign Wealth Funds.  Y’day Lawrence Summers had written a nice article in BS. And today it is SS Aiyar in ET.

4. Ajay Shah has an excellent article on India’s monetary policy announced y’day.  I shared similar thoughts.

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