Archive for December 15th, 2014

Michael Lewis’s wishlist for Wall Street

December 15, 2014

The guy never gives up. But given how the street has behaved in the last 5-6 years there is no reason why he should give up.

He has eight wishes for Wall Street. Some of them include never allow someone below 35 to be in Wall Street, all intelligent guys should be shunned from taking finance jobs, women should handle finance jobs and so on.

Fun to read as always…

Economic consequences of drug resistance..

December 15, 2014

Jim O Neill of Goldman Sachs has this important piece on the topic.

The bacteria and parasites in future are likely to develop resistance to these existing drugs and medicines. This will have serious economic consequences:

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Obesity becoming a global economic issue..

December 15, 2014

So far the attention has mostly been on underweight/undernourishment of large number of people in the world. There has been some progress on this front but still a long way to go.

Health econs meanwhile are staring at an opposite issue of obesity where too much weight has become a huge problem.

Richard Dobbs and Corinne Sawers look at the problem:

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Book Review: The World’s First Stock Exchange

December 15, 2014

Imagine going out in 1600s and getting a glimpse of a world of finance in a country like Netherlands. Even more so, the world is not very different from the world today in the area of finance. One critical difference between the two times is role of technology and ready availability of information (too much now a days perhaps).

This book (Amazon India link here) by Dutch scholar Lodewijk Petram is a must read for finance scholars and followers. It is encouraging (for someone like me) that this book emerged as the scholar’s thesis. This is just amazing as getting such a readable book and that too out of a finance thesis of all things. In times, when most finance thesis are just algebraic representations of some fancy idea, such work is like a breath of fresh air. The book is highly lucid and accessible as well.

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Boom and bust of Indian political economy cycle

December 15, 2014

Nice paper by Kunal Sen of University of Manchester and Sabyasachi Kar of Institute of Economic Growth.

Instead of looking at the standard gdp growth, inflation etc, the authors look at the political economy of India’s growth in period 1993-2013. They say one has to look at the role of industry as well in the space. The deals between govt and industry were clean in period 1993-02 leading to high growth phase. This was followed by corruption in 2003-10 sowing the seeds of destruction. From 2011 onwards with spotlight on corruption, one is not sure of the path going ahead:

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