Archive for February 12th, 2013

Where Social Networks, Payments and Banking Intersect..

February 12, 2013

An excellent note by Terri Bradford of Kansas Fed.

It shows how social networks are being used in payment systems/commerce:

This article begins with a glimpse of the extent to which social networks have been adopted. Next, it describes the diversity of commerce arising among social networks and the  payment methods that support it. The article then describes  ways in which financial institutions are using social networks  to provide banking services and how consumer attitudes may drive opportunities to offer person-to-person (P2P) payments. Finally, the article concludes by setting out some of the potential risks of these various interactions.

Nice bit..

Will economics textbooks change in next 30 years??

February 12, 2013

A depressing at the same time hopeful article by Prof. Barry Eichengreen.

He points that there was a session in recently held World Economic Forum over state of economics textbook. Will it change post crisis? The depressing bit is that most econs feel there is no need for a change. Hope bit is Prof. Eichengreen feels it is due for a change and it will change. Like all technologies change overtime despite pessimistic expectations, same is the case with econ text-book as well.


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