Archive for July 20th, 2012

Is Rising Income Inequality Inevitable?

July 20, 2012

Well, econs did warn about this issue of rising inequality.  Anthony Atkinson of Oxford University gave the annual WIDER lecture in 1999 (another super lecture series).

In the lecture he pointed that inequality has been rising for two decades (way back then). This was common across transatlantic economies earlier but was becoming common across other econs as well.  However Prof. Atkinson disagreed with the notion that this was inevitable. Policy could lower the inequality. Of course none of this was followed..

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Why We Do Not Try to Walk off without Paying after a Tax-Ride?

July 20, 2012

I did hear Prof. Kaushik Basu speak about this research issue in one of his talks. Though, I thought this must be some work under progress. However, I realised he worked on its pretty early.

In this 1983 paper, he looks at this question on why people wait to pay after their taxi-ride?

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Hayek vs. the development experts..

July 20, 2012

I have been  trying to read the superb Hayek lectures by Manhattan Institute (after discovering them recently and also posted 2012 lecture here.

William Easterly got the 2008 award for his superb book The White Man’s Burden: Why the West’s Efforts to Aid the Rest Have Done So Much Ill and So Little Good. His lecture on the occasion is a decent read.

As we know, Easterly is a huge critique of top down approach of development. In this one has all these development experts who think they know what is in the interest of the poor. Easterly instead vouches for bottom-up approach where people decide what to do. This is also similar to what Hayek also said:

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