Archive for October 4th, 2019

Decline of Kota as a manufacturing hub in Rajasthan

October 4, 2019

Interesting piece in Hindu Business Line by Tina Edwin:

Outsiders today recognise Kota as a coaching powerhouse that annually prepares thousands of students for competitive exams. But this Rajasthan town sees itself mainly as a manufacturing hub going through a downturn. As tuition classes and student hostels eat into its once thriving factory spaces, Kota desperately looks for ways to revive its industrial shops.

Fair bit of history in the piece. Did not know Kota was called Kanpur of Rajasthan! A testimony to how powerful Kanpur once was and how much it has declined…

Modern monetary theory and its critics

October 4, 2019

Lots of recent research on MMT:

The new edition of Real World Economics Review has several papers.

Cato Journal has few papers.

Fiscal Policy getting traction amidst European monetary policymakers…

October 4, 2019

After Mario Draghi, French central bank Governor  François Villeroy De Galhau joins the debate.

He actually reverses the usual policy response to crisis/uncertainty. We are usually told monetary policy is the first response and then fiscal policy. He says given today’s times, fiscal policy comes first:


Law and macroeconomics – the global evolution of macroprudential regulation

October 4, 2019

When we say law and economics, it usually means micro. In this speech, Randal Quarles of Federal Reserve in this speech says law and macro are connected as well:


What Moscow’s Sheremetyevo airport teaches about transition economics

October 4, 2019

Marcus Shera, a student at George Mason University reflects on his experiences travelling to the airport.

Overall experience:

No matter what economic system you live under, scarcity still exists, and choices have to be made along some margin. Socialism trades prices and the knowledge bundled within for politics, bureaucracy, and oversight. Some of the old way still continues in Russia, but in the meantime, the little kiosks will continue to outperform the results of bloated and dying central planning.


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