Archive for April 20th, 2012

The homeopathy approach to Reforms

April 20, 2012

A fascinating piece by TN Ninan. It has been picked up from his speech he gave on the launch of this book – India’s Economic Reforms and Development: Essays for Manmohan Singh.

He looks at the issues boggling India reform story:

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Economists and their platonic vision of economic models

April 20, 2012

A nice interview of Jonathan Schlefer of HBS. He is a political scientist and has written a book called – The Assumptions Economists Make. It seems both econs and non-econs are having a great time writing books.

Shclefer gives a nice perspective on  econs and their models:

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Central banks and society

April 20, 2012

A nice speech with some philosophical nuggets by Masaki Shirakawa, Governor of BoJ.

He touches on several central banking issues:

  • Central bank policies in the current crisis
  • How crisis changed the mandate of central banks
  • What central banks can do? (Price Stability and Lender of Last Report)
  • What central banks cannot do? Resolve structural issues)
  • Full potential of central banks (realised when public finances are sustainable, credibility of central bank, support for market economy

A good read.

Here is some nice history from the speech:

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Did rise in inequality lead to increased opposition to Keynesian stimulus?

April 20, 2012

Well, we have some more interesting extension to rising inequality in US.

Krugman and Robin Wells in this article say two main things.

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