Archive for July 15th, 2016

Learning economic theory in pictures….

July 15, 2016

Economic Sociology Blog points to great set of pictures which pretty much sum up all there is to economics.

Click here to see them (need a facebook account).

Superb..

 

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How India’s concretising cities are becoming heat islands..

July 15, 2016

There is little doubt that most of us mention about the huge heat factor in India especially during summers. But taking a look at temperatures, one would see near similar temperatures across years. One big factor is our heat toleration has declined considerably thanks to air conditioners everywhere. The second bit could be this construction madness with concrete being used everywhere:

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McKinsey Global Institute — Using economic analysis to take on society’s biggest issues..

July 15, 2016

Here is a short write up and video discussing how MGI is using economic analysis to discuss society’s biggest issues. I hope they do not limit at just economic tools and use other ideas as well. We are all getting this economic thinking trap which is as big a problem as any.

It all is ironical though to see likes of McKinsey getting behind all these issues. Many would say they are in their own ways responsible for many of the woes they are now talking about.

Economists in India – endangered species?

July 15, 2016

Shankar Acharya has a piece in BS lamenting the decline of India’s economists in policy space. AS BS has now become a paid site, one can’t freely quote from the article anymore.

So let me discuss the piece briefly. He says two things. First,  good economists have disappeared from India’s universities/colleges from 1970s onwards. Second, they have disappeared from India’s policy as well from 2000s onwards. The second is more ironical given we had an economist PM at the helm. He quotes a long list of (distinguished) names who were present both in academia in 1950s and 60s (only few of these would be familiar to today’s students) and in policy circles in 1990s and 2000s (most should be familiar).

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You sound cooler if called a behavioral economist instead of a psychologist…

July 15, 2016

Adam M. Grant of Wharton School has a piece highlighting this dilemma. He is a psychologist but is often introduced as a behavioral economist on order to sound cooler and be heard.

He says this change in events is ironical as most contributions to so called beh eco comes from psychologists:

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