Acemoglu’s warning against “high modernism”

I get worried regarding the misuse of data whenever I am recalled of the fact that Google Maps keep the record of all the places I keep visiting. MIT's Institute Professor Daron Acemoglu take this worry one step forward and argues in his Project Syndicate piece that advent of fancy stuffs like AI and IoT … Continue reading Acemoglu’s warning against “high modernism”

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Decline of mathematics in India?

Here is an article recently published in ET which quotes some Indian stalwarts like Manjul Bhargava, Nalini Ananthraman, Srinivas Vardhan to discuss the decline of mathematics in India. India invented the zero, but math is seen to have suffered a decline here for several reasons. The first is a global phenomenon. In the 1970s, there … Continue reading Decline of mathematics in India?

Textbook economics solution in action!

Chapter on externality and pollution control in standard economics textbooks tell us that it is beneficial to set a target level of emissions that an industry is allowed to pollute; issue the licenses/certificates for the same and then let the industry trade these licenses/certificates among one another; letting the smaller firms continue with traditional methods … Continue reading Textbook economics solution in action!

Thoughts to ponder upon perception of secularism by liberals in India

From the piece titled "How Modi defeated liberals like me" in The Hindu. The Left intellectuals and their liberal siblings behaved as a club, snobbish about secularism, treating religion not as a way of life but as a superstition. It was this same group that tried to inject the idea of the scientific temper into … Continue reading Thoughts to ponder upon perception of secularism by liberals in India

The 2-4-6-8 perspective of India’s macro policy

Niranjan Rajadhyaksha, research director at IDFC recently came up with the exceptional working paper on the feasibility of India's macro policy recipe. He points out that India's policy is inherently working on the 2-4-6-8 framework where the digits represent targets of current account deficit, CPI, total budget deficit and growth rate respectively. He argues that … Continue reading The 2-4-6-8 perspective of India’s macro policy

James Heckman on the effects of Perry Pre-School Project

Nobel laureate Prof. James Heckman has been working for a long time now on the effects of pre-school education on later life outcomes. His previous research has shown that much of the future path of a child's life gets decided upon the kind of pre-school education he/she receives. Continuing on that path, he along with … Continue reading James Heckman on the effects of Perry Pre-School Project

Why community matters? An account of the diamond market

Image Source: Google Image Search (Business Today) Last week, I was visited the very famous diamond market of Surat where majority of diamonds of the world get cut, polished and sold. Watching a market work efficiently is always a hidden desire of any economics enthusiast, and nothing was different with me. One can the actually … Continue reading Why community matters? An account of the diamond market