Archive for March 23rd, 2016

Tirupati temple to deposit 2.3 tonnes of gold with PNB

March 23, 2016

Though for most this is just a news item but has interesting historical significance.

It is like the oldest form of bank depositing one of the oldest form of money (gold) with a modern bank. Tirupati temple to invest in Gold Monetisation Scheme just like Somnath temple did earlier. Tirupati temple opened a demat account earlier as well:



Another foreign mutual fund exits from India..

March 23, 2016

After Goldman and Nomura, JP Morgan too exits from the Indian MF market. It again takes me to the question asked earlier – Why do foreign MFs remain laggards in Indian markets? They are mostly launched amidst huge hype but just can’t match to the Indian peers and former is soon absorbed with the latter.

JP Morgan obviously lost a huge AUM due to Amtek Auto losses:


Modern misuses of Adam Smith with Laissez-Faire economics

March 23, 2016

Most of today’s economics students are victims of scrapping history of economic thought from our courses. Whatever little we know is just  picked from here and there. This just leads to incomplete and unbaked information which is even more dangerous as much of it is misconceptions.

Jag Bhalla has a reminder on associating Adam Smith with just Laissez-Faire economics. I mean this aspect is now much more of standard knowledge that Adam Smith was hardly just a free market enthusiast. He was more of a moral philosopher than really an economist. But then we continue to err and think Smith to be a Laissez-Faire economics man.

Bhalla points to a whole list of links where he points to these modern misuses..

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