Archive for April 8th, 2016

Do Harry Potter tales have lessons for central banking?

April 8, 2016

This blog pointed to this post linking Harry Porter to economics. It said Ministry of Magic was just antithetical to economic world where market exchange should allocate resources not some bureaucracy .

In a rebuttal on Mises Blog it says Potter world was not all that bad. It has some useful lessons for central bankers:

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What promotes crony capitalism – Capital controls or capital account liberalization?

April 8, 2016

Capital controls was a bad word till 2008 and still remains an uncomfortable word for most economists. One allegation out of many against capital controls is that they promote crony capitalism. The powerful incumbents don’t want competition and do all to prevent it. Capital controls is one such measure which prevents foreign capital from investing in new ventures and promote competition.

However, post 2008 people are looking at things differently. They say actually capital flows are part of crony capitalism as well. After all, people who have been pushing for capital flows are the powerful wall street lobby for their own gains. This is not a new argument. Just that it is becoming more popular and that too with people who supported capital flows pre-2008.

Here is AV Rajwade talking about this change of thought:

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Capitalism will abolish Laundry Day: The most hated chore in the history of housework

April 8, 2016

Sarah Skwire takes you to the old days when washing laundry was such a task for most women. And how things have changed gradually thanks to the capitalism. Actually more than capitalism it is technology which has enabled this important change to lives of women much like gas stoves.

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Could Humpty Dumpty have been an economist?

April 8, 2016

Noah Smith in another superb column points to how most popular terms/words used in economics are vague and poorly defined. He starts with Humpty Dumpty:

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