Archive for March 31st, 2016

Soon economists may call the government to fix the economy, leaving the public confused..

March 31, 2016

Noah Smith has this interesting piece on changing discourse on economic thought. And that too amidst economists!!

Even more interesting is that they seem to be leaning more towards govt these days:

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What does Keynes think on Britain exit from Europe?

March 31, 2016

For most, this would be a puzzle. How can Keynes have a view on Brexit which is a current issue? Was this an issue earlier as well?

But then this is an article by Soumaya Keynes. She is apparently a fifth generation Keynes and great great grandaughter of the great Maynard. This blog has neither an idea about Britain exit nor it is a topic of much interest. But was really excited to see a Keynes, (she is an economics correspondent with Economist) still writing on economic issues…

 

Why getting a new banking licence is no path for easy money and is just a start of a rocky journey..

March 31, 2016

The association of banking with hype is as old as the banking industry itself. Pick up any book (old or new) on history of money and banking, and one comes across cases of several banks and bankers who created huge hype in their early years only to bite dust much later. Though, this is a story common across sectors but in banking the connect to hype is much stronger.

So when India have two new licences in 2014, as usual there was hype. As it gave more licences to small banks and payment banks, there was again more hype. One of the payment banks has already surrendered the licence, but there is hardly any mention of it.

This story of IDFC Bank and Bandhan Bank should be nothing new to those who have read a bit of history of banking:

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Given IMF’s record, should we put too much faith in the Fund’s ‘economic expertise’?

March 31, 2016

AV Rajvade has a piece on this. It is actually amazing given mistakes of IMF, it remains as prominent a body as ever.

The author reflects on a recent IMF top brass visit and setting a regional centre in India. Indian PM in his speech praised IMF and must have been music to latter’s ears:

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