Archive for November 24th, 2014

Why can’t countries think like companies? (because both are different entities)

November 24, 2014

Well, countries can’t think like companies as two are very different entities. Just as we are told elephants can’t think like ants and vice-versa.

It is surprising to read such pieces from public policy professors. Kishore Mahbubani of Lee Kuan Yew Public Policy Institute actually argues something which professors of public policy have usually guarded against – countries are not companies.  So what works in companies does not really work at the country level.Actually, such kind of thinking will leave no role for public policy schools as well.

Much of modern economic thinking gets into this whole idea that country policies do not matter. One should just apply principles of economics (efficiency, profit maximisation etc) to country level and all shall be taken care of. The west has been influenced by this thinking for many years only to reap the enormous problems they have created for themselves.

So what does this article say? It speaks about missed opportunities in China and India:

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Look beyond India’s economic hotspots…

November 24, 2014

Rakesh Mohan and Anu Madgavkar look at the Indian maze and suggest we should look beyond the usual growth stories.

India is way too varied to fit in one basket:

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Economics is a dismal science for women..

November 24, 2014

Noah Smith has this piece which says “forget anecdotes, there is quantitative evidence showing that economics is uniquely biased against women”. So as per Prof Smith, the dismal science is harder on women.

He points to some examples of how male econs are not criticised much despite making some sexist comments. Then he talks about some research which shows how the profession is biased against women:

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