Archive for April 22nd, 2014

The role played by print media in consolidating upper caste cultures

April 22, 2014

A brilliant piece by Sumit Chaturvedi (an indep journalist) in EPW. 

He says how people of similar culture use media to consolidate their views and presence:

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Post crisis, will economic history see a revival or continue to decline?

April 22, 2014

Jessie Romero of Richmond Fed has a short article on the issue of decline in econ history. And more importantly, whether the subject will pick up post-crisis as we realise how things rhyme/repeat from the past.

The field is generating huge interest in research but interest in teaching economic history/history of econ thought continues to be low key affair. Infact, even if there is interest amidst  students there aren’t enough people around to teach the subject.

Romero begins the article showing how in mid-2000s, there was an application for a research grant at NSSF to study economic crises. And guess what it was rejected! He goes on to point how math and then ironically cliometrics led to decline of econ history. Cliometrics which was an application of quantitative techniques to econ history saw the decline of latter. Econs thought we do not really need to study history seperately.

Post-crisis we again see how this neglect of econ history can be a huge issue. But will it really get a pull-up?

Romero is not so sanguine about the prospect…

Payment Choice and the Future of Currency…

April 22, 2014

An interesting paper by Zhu Wang and Alexander L. Wolman of Richmond Fed.

They pull a large panel dataset from a retailer over three years (2 billion transactions). They show that increasingly plastic is winning over cash. And this plastic usage is only going to rise over the years:

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From Dutch Tulipmania to Barmer Landmania…this time is never really different

April 22, 2014

A superb story in yesterday day’s BS edition.

It tells you about this huge surge of land prices in Barmer, a sleepy town in state of Rajasthan.   And very quickly the prices crashed too:

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Facebook becoming a bank?

April 22, 2014

Corporates becoming a bank is not just fashionable in India but other places too.

It seems Facebook is joining the list too! For a moment I thought that this Bloomberg story would be of Apr 1 indicating April Fool. But this seems to be true.  Facebook is about to get an approval from central bank of Ireland (Facebook’s non-US HQ is registered at Ireland) to store and exchange money:

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