Since most of us in India can talk about little else other than corruption, do read this article by Nauro F. Campos and Ralitza Dimova on voxEU which is an interesting meta-analysis about papers which analyse the impact of corruption on growth. I have long heard about meta-analyses, but this one made me sit up and notice.
Anand Giridharadas in the New York Times on Arthur Bunder Road in Bombay.
Roger Bate and Tom Woods, in The American, point to a new dimension in India's crisis of fake medicines.
I I Sc will now use the IIT JEE as their entrance examination for the new Bachelor in Science course. Given that the IIT JEE is a well managed and difficult examination, it would make sense to have more and more schools plugging into it in order to filter their intake. But as you move away from the top .01% of the distribution, the statistical precision of the score on a very difficult exam as a measure of student capability tends to decline. The managers of the IIT JEE will need to shift towards adaptive testing, where the questions are dynamically modified based on student characteristics, in order to retain efficiency across the distribution. Once this is done, the IIT JEE would be useful for sifting through millions of students, and exert a beneficial effect of all of them facing a more demanding high-stakes examination.
Shobhana Subramanian in the Financial Express on C. B. Bhave.
A fascinating article by Nicolai Ourussoff in the New York Times about the attempt to reinvent Saudi Arabia.
A dystopian future for the world: a story of ageing and depopulation from Amakusa in Japan.
Liu Xiaobo's beautiful acceptance speech for the Nobel Prize for Peace. A lot of countries of the world, including India, have much to do in order to achieve freedom.
Tourism in Afghanistan by Damon Tabor.
Steven Johnson in the Financial Times on the future of linking to information sources on the web.
With 75% of world GDP in service, trade liberalisation in agriculture or manufacturing is not that important. The really big story is trade liberalisation in services, and there the picture is quite bad. Read this article on voxEU by Bernard Hoekman and Aaditya Matoo on how to obtain progress.
Understanding the rise in currency turnover by Michael R. King and Dagfinn Rime on voxEU.
Anders Aslund, on Project Syndicate, on the remarkable story of the global crisis as it played out in East Europe. Also see this story in The Economist on the same subject, which is a bit less optimistic. The recovery in East Europe matters for recovery in Europe and elsewhere. It also illuminates our thinking on some of the grand policy questions.
David Alexander points out how Australia is the role model for the world.
Devin Friedman in GQ on the strange world of social networking.