Archive for March 2nd, 2015

IIT politics in Karnataka..

March 2, 2015

The Government continues on its spree to set up more IITs/IIMs. In the budget for 2015-16, 1 new IIT is announced in Karnataka and 2 IIMs in J&K and Andhra Pradesh. J&K of course to please the new political ally. It is amazing how little a say the elite budget technocrat team has in these matters given most come from these fancied institutions. It is felt India will be skilled with just opening new IIT/IIM in all corners of the country without thinking at all about faculty/teaching. For instance, each year the budget is silent on increasing incentives to become faculties to fill these places. Either they are ignorant or completely clueless about realities.

Anyways, the Karnataka decision has led to interesting politicisation on choice of location of the new IIT. The experts say Bangalore and the netas say North Karnataka. Sure BLR is a natural choice given location of IT industry but the city just does not have any space. Bangalore is already too congested and building another big place without any infra will only be a disappointment for students:

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When economists make mistakes and pressure of publishing..

March 2, 2015

Jessie Romero writes on this topic which has been a nuisance for sometime. There is too much pressure to do research to get promoted in econ academics. This is leading to all kinds of shortcuts and issues for the profession. And then at the end what do we really get? More and more abstraction and away from reality kind of research. Economic research has proliferated big time and if much was indeed so useful then world should have been a much better place.

Starts with the famous Rogoff and Reinhart error:

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Does the hawk-dove distinction still matter in the modern Fed?

March 2, 2015

Interesting article by Tim Sablik of Richmond Fed.

Comparing Fed/central bank members as birds goes back to war generals:

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The sheer decline of Bengaluru/Bangalore..

March 2, 2015

For people who have some association with Bangalore and have spent time in the city in the past, revisiting the city keeps giving them new shocks over its decline. For those living in it for long, have got used to the decline and can only deplore.

Rahul Jacob has a similar story as well. He used to visit the city as his grandparents lived there. He just cannot imagine the decline since then. He begins citing PM Nehru’s words on the city:

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