Archive for February 27th, 2013

Promoting Women’s Economic Participation in India..

February 27, 2013

Finally we have some research and thoughts on a hugely important issue in India – women empowerment. I hope it continues and more on the implementation part as we have many ideas on the table already.

Ejaz Ghani, William Kerr, and Stephen D. O’Connell look at ways to promote economic participation in India:


John Maynard Keynes of Bloomsbury: Four Short Talks..

February 27, 2013

Nice paper by four econs — Craufurd Goodwin, Kevin D. Hoover, E. Roy Weintraub, Bruce Caldwell. All four are from HOPE Centre at Duke Univ.

Each of the four talk about Keynes and his association with his elite Bloomsbury group:

Four talks on Keynes in relation to the Bloomsbury Group: I. Maynard Keynes of Bloomsbury (Craufurd Goodwin); II. Keynes as Policy Advisor (E. Roy Weintraub); III. Keynes and Economics (Kevin D. Hoover); IV. Keynes and Hayek (Bruce Caldwell). The talks were delivered as part of roundtable discussion on John Maynard Keynes of Bloomsbury, the inaugural event of the Center for the History of Political Economy at Duke University, and were held in conjunction with Vision and Design: A Year of Bloomsbury, a campus-wide interdisciplinary program surrounding an exhibition of Bloomsbury art at Duke University’s Nasher Museum.

Key ideas by each of the four:

Crauford Goodwin:

My main message this evening is that John Maynard Keynes (Maynard to his friends), contrary to popular belief and recent caricatures in the media, was much more than a tax and spend liberal. Indeed, he was a liberal only in the  original sense of that term, in that he placed the highest value on human  freedom, and he believed that this freedom could most likely be gained and preserved within a smoothly functioning competitive market economy. Unlike many of the economists of his time, notably the so­called “American  Institutionalists” with whom he is often mistakenly grouped, he was deeply  suspicious of government and was constantly searching for solutions to economic problems through actions in the private sector rather than the public sphere. Maynard Keynes served in government for extended periods throughout his career, so he really knew whereof he wrote.

E. Roy Weintraub sums up various roles Keynes played in policy.

Kevin D. Hoover discusses Keynes central economics ideas: The Fallacy of Composition, Uncertainty, The Role of Government and Do It Now.

Bruce Caldwell talks on relationship between Keynes and Hayek. It was not healthy but not as bad as it is made out to be.

Caldwell ends with a nice Keynes quote:

So I will end with one of my favorite Keynes’ quotes, one that is always popular with my students, and one which should make our transition to the reception  awaiting us a bit easier. A few weeks before he died Keynes was asked in anKeynes and Hayek Caldwell interview if there were anything that he would have done differently. His response was: “I would have drunk more champagne!”

Super light read on Keynes..

Decentralisation gone wrong in Italy…

February 27, 2013

Alberto Alesina of Harvard University writes how decentralisation went wrong in Italy:


Explaining economic systems/structures using two cows analogy..

February 27, 2013

Using two cows in jokes is used to  explain capitalism, socialism, communism etc.

Here is a pictorial representation of the two cows analogy :-).

This one adds few more economies- Greek, NZ. Australian, Iraqi etc.

I remember earlier versions showed the German Eco System saying something on using engineering to increase productivity. This I think is missing from the list.

Good stuff..

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