Archive for April 13th, 2016

What would have happened if Mises was the Nobel Prize winner?

April 13, 2016

Perhaps we would have lesser case of economic planning says Karl-Friedrich Israel in this article. Though if the list of awardees remained same post Mises getting it in 1969, likes of Mises would have opted out of the list rather than remain there..

 

Motorcycle deaths fell after mandatory helmet law repeal….

April 13, 2016

I am surprised to read this bit. One wants markets and firms to gigure things but there are certain things which require regulation and forced one at that. This is especially the case with wearing helmets (or putting seat belts) which are fairly simple practices to save injuries from accidents. But people just don’t care especially in India. We do all possible to avoid these devices.

So, in Michigan they repealed this compulsory law of wearing helmets. There is some controversy around the findings:

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Why are banking deposits declining? A case of correlation does not imply causation..

April 13, 2016

Despite repeated efforts, statistics is something this blogger has failed to figure (the efforts are still on though). But there are somethings in statistics one should not just broadly know but more importantly be weary. So whenever you hear/read the word correlation and then see people using it to prove causation, you should be on a red alert. After all just because two things are correlated, it does not mean one causes the other. Correlation does not imply causation.

This article is just an example of such a mistake. It correlates falling deposits in India to two variables – real interest rates and outward remittances. It finds strong correlation for both and says they could be factors for falling deposit growth…

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Gurgaon to Gurugram: Will it change the private nature of the city?

April 13, 2016

Gurgaon’s name has been proposed to be changed to Gurugram alongwith another distrci (Mewat to Nuh). This name change news has been there for a while. Now the proposal will be sent to Haryana cabinet for approval. The name change is dedicated to Guru Dronacharya who apparently lived here and trained princes (read Pandavas and Kauravas).  These name change are luxuries which only govts can afford at taxpayer’s expenses. One should do a cost benefit analysis of such exercises.

Anyways, coming to Gurgaon. Came across this interesting article on how the city is run. It is based out of research by Shruti Rajagopalan with Alex Tabarrok. It is basically a private sector run city where basic public services are absent:

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