Archive for October 31st, 2017

The evolution of the promises on India’s banknotes (1770 onwards)

October 31, 2017

JP Koning has another fascinating post on how the promises on the banknotes have changed over the years.

Taking a cue, I looked at India side of the story as well (Source: The Paper and the Promise written by Bazil Sheikh and Sandya Srinivasan). This is how it goes:


Studying the history and rich traditions of India’s religious institutions…

October 31, 2017

India’s Prime Minister recently asked Universities to study the history and rich traditions of India’s religious institutions:


Economics of prison in Australia…

October 31, 2017

This blog has written about economic of prison in US.

Here is a discussion and interview (mp3 format) on the economics of prison in Australia:

There are more than 41,000 daily full-time prisoners in Australia, according to the latest ABS data. Many of them are in private prisons – almost 20% of the prison population according to a 2014 Productivity Commission report.

But we don’t really know whether private prisons are more cost effective or produce better results. Private prison contracts are often “commercial in confidence”, and it’s hard to know what exactly we’ve paid for. All this means we have to rely on watchdogs to ensure taxpayers are getting value for money, and it’s tough for companies to really compete.

Prison job programs are often touted as a way to reduce prisoner recidivism, but again there is little evidence showing a positive impact. Joanne Wodak was a research assistant on a study in the Northern Territory. Despite positive feedback from both prisoners and employers, Wodak says these programs don’t address other, important factors affecting recidivism such as alcoholism and homelessness.

Technology could drastically change what a prison is and who is in them – through the use of algorithms that decide who gets bail, for instance. But as the University of Sydney’s Sandra Peter and Kai Riemer discuss, it’s unlikely to have an impact on the jobs prisoners themselves do. Low wages mean that prisoners provide an incredibly cheap source of labour, and the economics of this is unlikely to be drastically changed by technology.

So many different organisations and how economics differs across them…

How badly does India need banking? (bank based financial system vs market based financial system?)

October 31, 2017

Ajay Shah writes on recent Bank recapitalisation (history here and current specifics here).

He asks several questions related to this policy and much of which has already been discussed.

But this first question caught my attention:


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