Archive for January 2nd, 2017

India’s best cricket players who never featured in the National Test team…

January 2, 2017

Ram Guha has an interesting piece on the topic.

…..a cricket fan in his thirties asked me; “Who was the best cricketer never to play for India?” He himself thought it must be Amol Muzumdar, the fine Mumbai batsman who was coached by Ramkant Achrekar, as were Sachin Tendulkar, Vinod Kambli, Pravin Amre and Anil Agarkar, all of whom were capped often for India. However, despite an outstanding Ranji Trophy record, Muzumdar never played for the country himself.

While conceding that Muzumdar was unlucky, I told my questioner that his preference betrayed a twin bias: On behalf of his own generation, and on behalf of batsmen. I have now been watching first-class cricket for close to 50 years. Based on this experience, my own candidate for the best player never to play for India would be a bowler. Among the cricketers I have myself watched, I would pick either Rajinder Goel or Padmakar Shivalkar.

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India’s economic advisery becoming increasingly politicised and polarised..

January 2, 2017

Economists have gone terribly wrong in recent years. From not figuring the fallout of 2008 crisis to European troubles to Brexit to Trump victory and so on. Name it and most likely the outcome has been opposite of what economists had suggested before or at the time of the event.

In India, things are no different. We keep getting things on GDP, inflation wrong most of the times.

However, another emerging aspect is the huge politicisation and polarisation in debates over Indian economy. Earlier, debates on economic issue were whether you are for or against the policy/decision and so on. Now any such economic discussion has become whether you are for or against the government.

This is best epitomised in the summary of top economists view on demonetisation (link 1 and link 2). The debate has been split into these two camps.

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RBI continues to reject disclosure of information under RTI…

January 2, 2017

One had already pointed how RBI on its own has declared that it may not disclose some of the information under RTI Act. Now it is acting on this by refusing to disclose information under all kinds of pretexts.

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Economics of the world’s most expensive handbag – Hermès Birkin

January 2, 2017

Superb piece by Brooke Unger on the topic (HT: who else but MR Blog).

One has always wondered how marketers create these different products/brands for men and women and how they manage to keep prices of latter category goods so much higher.

I had no idea about the Birkin handbag (which I learnt is based on surname of an actress) and its unheard of price:

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The gradual demonetisation of the Hyderabadi rupee in the 1950s…

January 2, 2017

Demonetisation fever likely to continue in early part of the year.

Prof Chinmay Tumbhe of IIMA is bringing us interesting insights from India’s economic and business history.

In a recent piece, he points to lessons from Hyderabad Currency reform. State of Hyderabad had its own central bank (State Bank of Hyderabad) and own currency (Osmania Sicca, also this). After joining Indian Union post-Partition (amidst huge chaos),  their currency had to be replaced by Indian Rupee.

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