Archive for November 23rd, 2016

Currency Notes across the world in 2016..

November 23, 2016

Currency notes have become a new obsession with this blog. After seeing some surprising interest by viewers on the blogpost on new notes in Norway, one decided to see what is happening across the world.

Here are some links of new notes issued across the world in 2016:

If visitors know of other new launches, please add to the list. Thanks.

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The Rebel Economist Who Blew Up Macroeconomics..Paul Romer

November 23, 2016

A nice profile of Paul Romer and his recent mission to blow up macroeconomics:

Paul Romer says he really hadn’t planned to trash macroeconomics as a math-obsessed pseudoscience. Or infuriate countless colleagues. It just sort of happened.

His intention actually had been to write a paper that would celebrate advances in the understanding of what drives economic growth. But when he sat down to write it in the months before taking over as the World Bank’s chief economist, Romer quickly found his heart wasn’t in it. The world economy wasn’t growing much anyway; and the math that many colleagues were using to model it seemed unrealistic. He watched a documentary about the Church of Scientology, and was struck by how groupthink can operate.

So, Romer said in an interview at the Bank’s Washington headquarters, “I just thought, OK, I’m going to say what I think. I don’t know if I’m the right person, but no one else is going to say it. So I said it.”

The upshot was “The Trouble With Macroeconomics,” a scathing critique that landed among Romer’s peers like a grenade. In a time of febrile politics, with anti-establishment revolts breaking out everywhere, faith in economists was already ebbing: They got blamed for failing to see the Great Recession coming and, later, to suggest effective remedies. Then, along came one of the leading practitioners of his generation, to say that the skeptics were onto something.

Demonetisation Links (23-11-2016): Supreme Court advocate on the move, RBI’s Mt Everest Challenge, Marriage cash woes and many more

November 23, 2016

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