Archive for April 20th, 2018

Bitcoin and the Dodo-Bones Theory of Money

April 20, 2018

Monetary debates are usually seen as between Friedman-Keynes or Friedman-Hayek and so on.

JP Koning points to this fascinating debate between Joseph Shield Nicholson and Benjamin Anderson. Both were not so famous economists but their views on what is money remains as relevant as ever.

For instance, Nicholson spoke about dodo bones being money:


How does a city get to be ‘smart’? This is how Tel Aviv did it

April 20, 2018

One does not even know the meaning of a smart city but has become a buzzword.

If it means having technology in whatever we do, then it could also mean every step can be recorded.

However, there is another model of using technology selectively and make the city more people centric. For instance, Tel Aviv is doing its bit to use tech to involve citizens and become so called smart city. Interestingly, Thane has adopted Tel Aviv strategy as well:

Smart cities, digital cities, virtual cities, connected cities. Are these just trendy buzzwords? Perhaps. But these types of cities are supported by infrastructure that is more than bricks and mortar.  These cities are smart (thoughtful, people-centric), digital (driven by data acquisition, measured, analysed and sometimes exchanged) and virtual (experiential). And, as a result, they are connected, creating more potential interactions between people and their place.

Tel Aviv is one of these cities. Undoubtedly the 2009 book Start-Up Nation: The Story of Israel’s Economic Miracle contributed to its reputation as a “non-stop city” with innovation clusters teeming with companies at the cutting edge of technology.

However, Tel Aviv’s standing is not only built on commercial success — it has an internationally recognised local government. Winning first placein the 2014 World Smart City Awards not only boosted its profile on the international stage, but Tel Avivians, well, they actually have positive things to say about their local government.

I find all this tech usage a bit too much. One would still say Copenhagen type model is a better bet.

On Tel Aviv, there is also this interesting link on the city’s new Independence Trail…


Cryptocurrencies in the global economy: Norges Bank edition

April 20, 2018

One is summarising the speeches of several central bankers on digital and crypto currencies.

Here is Deputy Governor Jon Nicolaisen of Norway’s central bank. He does not think much of these digital currencies but says one should not miss on the potential of new technology.


Prof A.K. Bagchi: Bank frauds are not unknown in India

April 20, 2018

Nice interview of Prof A.K. Bagchi. His amazing work on SBI’s history should be widely read and taught but sadly people are not even aware of the history volumes.

Have Nirav Modi and Vijay Mallya done something entirely new?


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