tag:blogger.com,1999:blog-19649274.post714725690605842509..comments2024-03-27T17:16:12.789+05:30Comments on The Leap Blog: Opposition moves todayAjay Shahhttp://www.blogger.com/profile/03835842741008200034noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-19649274.post-5542279975932079842010-07-15T16:11:38.978+05:302010-07-15T16:11:38.978+05:30Hi Ajay,
I would like to get in touch with you vi...Hi Ajay,<br /><br />I would like to get in touch with you via email if possible. Could you please drop me a line at chewy_mentos@yahoo.com.sg?<br /><br />Thanks and i hope to hear from you soonAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-14693561290114484992010-07-12T17:14:38.824+05:302010-07-12T17:14:38.824+05:30Your thoughts on this??
Economics is Hard. Don’t ...Your thoughts on this??<br /><br />Economics is Hard. Don’t Let Bloggers Tell You Otherwise<br />Kartik Athreya∗<br />Research Department<br />Federal Reserve Bank of Richmond<br />June 17, 2010<br />Abstract<br />In this essay, I argue that neither non-economist bloggers, nor economists who portray<br />economics —especially macroeconomic policy— as a simple enterprise with clear conclusions, are<br />likely to contibute any insight to discussion of economics and, as a result, should be ignored by<br />an open-minded lay public.<br />The following is a letter to open-minded consumers of the economics blogosphere. In the<br />wake of the recent financial crisis, bloggers seem unable to resist commentating routinely about<br />economic events. It may always have been thus, but in recent times, the manifold dimensions of<br />the financial crisis and associated recession have given fillip to something bigger than a cottage<br />industry. Examples include Matt Yglesias, John Stossel, Robert Samuelson, and Robert Reich. In<br />what follows I will argue that it is exceedingly unlikely that these authors have anything interesting<br />to say about economic policy. This sounds mean-spirited, but it’s not meant to be, and I’ll explain<br />why.<br />Before I continue, here’s who I am: The relevant fact is that I work as a rank-and-file PhD<br />economist operating within a central banking system. I have contributed no earth-shaking ideas to<br />Economics and work fundamentally as a worker bee chipping away with known tools at portions<br />of larger problems. It is precisely from this low-level vantage point that I am totally puzzled by<br />the willingness of many who fearlessly and breathlessly opine about economics, especially macroeconomic<br />policy. Deficits, short-term interest rate targets, sovereign debt are all chewed over with<br />a level of self-assuredness that only someone who doesn’t know more could. The list of those exhibiting<br />this zest also includes, in addition to those mentioned above, some who might know better.<br />They are the patron saints of the “Macroeconomic Policy is Easy: Only Idiots Don’t Think So”<br />movement: Paul Krugman and Brad Delong. Either of these men will assure their readers that it’s<br />all really very simple (and may even be found in Keynes’ writings). Lastly, before you dismiss me<br />as a right- or left-winger, I am not. I’m simply less comfortable with ex cathedra pronouncements<br />and speculations than the people I have named.1<br />The main problem is that economics, and certainly macroeconomics is not, by any reasonable<br />measure, simple. Macroeconomics is most narrowly concerned with the tracing of individual actions<br />into aggregate outcomes, and most fatally attractive to bloggers: vice versa. What makes<br />macroeconomics very complicated is that economic actors... act. Firms think about how to make<br /><br />http://www.scribd.com/doc/33655771/Economics-is-HardAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-7936771412436873582010-07-07T01:35:06.196+05:302010-07-07T01:35:06.196+05:30NDA Government had decontrolled fuel prices before...NDA Government had decontrolled fuel prices before 2004 sometime. UPA brought it back. It was a backward step. Good that it has been decontrolled again. The opposition parties should insist on publishing governement's fuel expenses instead of running rasta roko agitations. <br /><br />You are right though. Inflation does make politicians nervous. Onion prices have brought down state goverments some years ago.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-69447719416939735962010-07-06T22:03:23.422+05:302010-07-06T22:03:23.422+05:30@gk,
Ironies are numerous:
1. The ruling congres...@gk,<br /><br />Ironies are numerous:<br /><br />1. The ruling congress went on a supposed austerity drive when the governments across the world were trying to provide convince corporates to enhance spending and providing stimulus to economies.<br /><br />2. The National Capital gets an infrastructure boost when Commonwealth Games are held here, instead of Commonwealth Games being held in Delhi because of NCR having world-class infrastructure.<br /><br />3. Villages like Nayla and various roads/towns get a touch up when VVIPs like Bill Clinton visit them, instead of VVIPs taking that route because of excellent infrastructure.<br /><br />4. A driver is set on fire in Mr. Anil Nanda's house and provides a live testimony on a National Newschannel from his deathbed and police takes no action and makes no arrests while it is prompt enough to put 4000 people under custody for the bandh immediately!<br /><br />5. We are debating that RBI is pleased to be not held accountable for anything while we fail to recognize the lack of independent oversight when out of nineteen members of the RBI Governing body nine are non-independent, one other is Government representative and another one is a Supreme Court lawyer.Anupam Jainnoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-35041007833492576812010-07-05T17:55:22.365+05:302010-07-05T17:55:22.365+05:30The primary focus of today's "hartaal&quo...The primary focus of today's "hartaal" was an appeal to rollback oil price increase (wasn't the increase a necessary evil). Isn't it unfortunate that the govt's oil price deregulation stance comes at a time when inflation is high? What policy steps do you think are suitable for RBI in such a situation?sudhanshoonoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-55163462562380047842010-07-05T16:58:09.261+05:302010-07-05T16:58:09.261+05:30The another irony is that India is facing protests...The another irony is that India is facing protests because of high inflation when everyelse in the developed world, Central Bankers are praying for lil bit inflation and rise in NGDP. <br /><br />Its really amusing that RBI is not at all held accountable for price rise (not even once by our momentum focussed and tantrik media). Rather focus will be on hoarding cry, kiling futures markets, banning twitter, reckless taxing and data tweaking. <br /> <br />Another amazing point is sensex high rise. Inflation will raise corporate profits this quarter too. Inflation is saviour of bulls too. Magical Inflation.gknoreply@blogger.com