Archive for September 28th, 2017

Given the technology at hand, why don’t the equity markets move to a T+0 settlement cycle?

September 28, 2017

This blog pointed earlier to how US is moving to a T+2 settlement in equity markets whereas India had it more than a decade ago.

JP Koning asks why don’t we move to a T+0 settlement cycle given we have the technology now? He says there is a reason why these systems are slower. The idea is to settle and net transactions at the end of the day rather than immediate to avoid repitition:

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Confusions and Emptiness in RBI Board continue…

September 28, 2017

Ira Dugal just tweeted about how we do not have a Deputy Governor after nearly 2 months of Mr Mundra’s term getting over.

This led me again to the RBI Board webpage which has been under intense pressure ever since they decided on the note ban.

It says currently following are the Central Board members (accessed on 11 AM ,28/9/17):

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We need to talk about how female economists are treated

September 28, 2017

Caroline Freund a senior fellow at the Peterson Institute for International Economics has a damning post on state of affairs in economics.

Economists have this habit of talking of talking about diversity, inclusion etc. But fail to look within:

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Hindi imposition in Bihar and relevance of regional language in teaching

September 28, 2017

Politics of language is always an issue in India.

Just a few days ago, Rosha Kishore of Mint wrote on how a Bihari lost his mother tongue to Hindi. This was least expected as when we talk of Hindi imposition we mean how the Northern States of UP, Bihar MP etc are pushing Hindi down the throat of other States. But not really. Infact, the regional languages of Bihar have felt the imposition too:

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Why study Economic History?

September 28, 2017

Anton Howes. Prof of Economic History at King’s College has a piece based on his first lecture:

What is Economic History? It is about asking some of the biggest and most interesting questions imaginable. Why are we, today, so rich compared to our ancestors? Why are some countries so rich and others so poor? Why were a handful of European countries able to conquer much of the rest of the globe? Those are just a few of the questions we will explore this year, together.

You see, Economics is not just about money, or exchange, or the distribution of resources. It is about human action, and interaction. It is a science of society. And History — the record of human experience — provides us with the raw data. It is the source of all of the models, all of the theories of how society works. And it is their test. History is the evidence — it is the rock upon which an economic theory survives, or is broken.

But humans are complicated: we are diverse and unpredictable. The challenge for a social science is thus far greater than that for the physical, natural sciences. We will thus be asking big questions, but we will not always find answers. This is something I hope you will get used to at university, where we hope to push at the boundaries of human knowledge, not just to learn what is already known.

I have also tried to make the scope of this course as broad as possible — I have tried to be ambitious! We will not only be looking at the West, and we will not only be looking at the recent past. The course will take us as far back as the Neolithic — to over ten thousand years BC — all the way to the present. And the breadth of subjects will be vast: from looking at the causes of the Great Depression in the 1930s, to investigating the institutions that sustained long-distance trade in medieval North Africa. We will look at sweeping theories of Economic History covering entire continents; and we will look at studies of very specific instances that still shed valuable light on the biggest and broadest of questions.

At the same time, we will use economic principles to understand history. This will not be history as you know it — one king or queen after another, one politician after the next. Instead, we will explore the fundamental forces that give rise to empires, and destroy nations; the institutions that give rise to trade, and the fundamental sources of human prosperity.

I can’t wait to get started.

🙂

Here is the course outline.


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