Archive for June 16th, 2016

Why vegetarian states love the BJP but non-vegetarian states prefer their own parties

June 16, 2016

Shoaib Daniyal of Scroll has an interesting piece on the topic.

So many aspects of Indian society and politics..

Announcing The Indic Bloggers Awards! Upto Rs 1 Lakh In Prizes!

June 16, 2016

Someone is atleast valuing and acknowledging the blogging community in India.

Swarajya, in association with Indic Academy has announced the annual Indic Blogger Awards. There are four categories for nomination – social issues, economics, political analysis and culture:

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How a Chinese P2P lending platform use nudes as collateral..

June 16, 2016

Crazy bit of news.

 

Shylock demanded a pound of flesh if loan was not repaid and today’s banks/lenders use force to get back their loans. Shame has also been used as a collateral in the past where those who do not pay back the loan are not seen kindly in the society. But now a Chinese lender is using different kind of shame to get back its loans:

Many Chinese university students were found to have used their nude pictures as IOUs onsome online lending platforms, putting themselves at the risks of having everybody –including their parents – see them naked.

Such risky methods of IOU is found usable on several online lending platforms, but it is usually more often accepted within the QQ group chats connected to such platforms.Borrowers are also required to upload pictures of their ID cards and report their family information, including their address and cell phone numbers.

Once a clear photo of a naked borrower holding his or her ID card is uploaded to lenders,he or she can get up to 15,000 yuan ($2,277) credit with a maximum of 36 month installments, the Nandu Daily reported. The credit varies based on the borrower’s education background. Usually an undergraduate student can receive 15,000 yuan in credit, while those studying at famous universities as well as doctorate students can receive even larger loans.

What comes with the seemingly easy business transaction is costly overdue repayment.

According to a self-claimed former borrower Li Li (pseudonym), the weekly interest ratewas 30 percent for her 500 yuan borrowed from an online platform in February. As she kept failing to pay back on set payment due dates, she borrowed more money from the platform with the same weekly interest rate until the overdue payment grew to 55,000 yuan, which then led to a threat with her naked pictures, the Nandu Daily reported.

Not sure how to react to such developments..

 

How will Austrian school resolve the woes of Austrian economy?

June 16, 2016

This is a very interesting article by Prof Dalia Marin of University of Munich.

Austrian economy seems to be reeling for very different reasons. Usually, we see poor macro policy for poor economic performance. But this one is hardly a case of poor macro:

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Indian economy being reshaped by govt’s invisible hand??

June 16, 2016

There is always either too much of optimism or pessimism on Indian economy.

Srivatsa Krishna does not agree on the pessimism bit. He says there is an invisible hand shaping things and quotes several things PM and his office are doing. This then cannot be invisible hand really. The phrase used by Adam Smith suggests that invisible hand of several individuals does a better job than visible hand of the government. Then it has also come to mean that the individuals pursuing their own interests benefits the society more than if the same individuals taking actions intending to directly benefit the society.

So not really an appropriate connotation. It is actually a case of how govt’s visible hand remains invisible.

Coming back to the article:

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Modern-Day Business Lessons from Ancient Rome..

June 16, 2016

Julia Hanna of HBSWK points to this course at Harvard called all roads lead to Rome.

She interviews the professors taking the course:

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