Archive for January 28th, 2015

The Fall and Rise of Economic History..

January 28, 2015

Brilliant and thought provoking essay by Jeremy Adelman and Jonathan Levy.

I mean this is as good as it gets. Most articles are around rise and decline of economic history. But with the recent crisis, lack of history know-how has come to haunt most econs. This is leading to a surge in interest in the subject. But how does this new love for historic economic history shape itself for future?

So the authors discuss both qs . Why the subject declined and what lies for its future..

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Does Microcredit work? it depends…

January 28, 2015

There are a series of papers evaluating impact of microcredit in 6 countries.

Justin Sandefur of CGDEV sums them further:

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Next Jan Dhan Yojana to target Mutual Funds/Equity markets?

January 28, 2015

I was actually thinking that the Jan Dhan Yojana should have also linked to equity market. Just like the bank account under the scheme provides insurance and overdraft facility, it could have provided a demat or a mutual fund account as well. Given the huge surge in equity markets, it could have made some people wealthier (or atleast perceive themselves). The government could have pumped itself saying we have created so much wealth for the excluded poor.

Apparently, SEBI did think about the idea and actually asked MF industry to replicate the bank account scheme in MF space.

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Richest queue in India (world perhaps) and cronyism at its best..

January 28, 2015

This picture is quite an interesting one. It shows India’s richest businessmen queuing to wait to meet US President Barack Obama patiently. It is ironical in many ways to see the rich and mighty queue like school children waiting for their score card or something. In many ways it is a score card of future where the chosen guys would either get to invest in US or be a partner of US money into India.

It clearly shows the power of politics. Those who keep talking of free markets and so on should see how politics dominates the game. At the end of the day, you have to get closer to the politique to see your empire grow.

But this is also an example of cronyism where business and politics get real close. Deals are signed amidst favorites and it is dubbed as competition. Most of cronyism happens behind the scenes and this is all in your face. Take it or leave it.

The way Indian business are rallying behind the recent polity and latter reciprocating greatly, is interesting to see. Heavens are falling for India as of now and these things will be praised and shown as responsible for growth. When heavens lift themselves, same things will be criticised for the downfall..


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