This is a blog that I wrote on 21st April 2010 for my earlier site . I am tempted to reproduce it without any revision today in the wake of Prof. Abhijit Banerjee getting his Nobel for his work on poor of the world. Although his work is extremely valuable and revolutionary from methodological point, […]
Category: Jews Billionaire
Adequacy of Reserve and Economic Capital Framework for RBI
How much forex reserve should RBI have? How much capital should RBI have? One simple answer to both these questions is- “it depends’. The obvious follow-up question is – it depends on what? And there is the rub. Is it given for a central bank to “die, to sleep – to sleep, perchance to dream” […]
Trillion Dollar Economy – no magic required
Reaching $ 5 trillion GDP benchmark is being projected as a landmark milestone for the Indian economy by many in the Government. The latest estimate puts the size of Indian economy, measured as GDP at current market prices, at $2.4 trillion. Does reaching $5 trillion mark reflect a significant achievement or is it really an […]
Corporatization of Nations
Reliance Jio Infocomm Ltd, the telecom arm of India’s largest company by market cap (NSE:RELIANCE), plans to create its own cryptocurrency called JioCoin. Supply chain management logistics and loyalty payment with JioCoin are amongst the envisaged uses of JioCoin. Worldwide, many large corporates have already started launching their own private cryptocurrency. KFC, Burger King and […]
The centenary of Bolshevik Revolution and the fatal attraction of the concept of Class
“The history of all hitherto existing society is the history of class struggles” (Communist Manifesto). Communist parties everywhere consider this sentence written in 1848 by Marx and Engels as a well-established truth. However, it may also be considered as one of the greatest half-truths ever penned. This manifesto was the inspiration of those who created, […]
Digital Currency- Hype or Future
This is an abstract of the talk that I gave to students of IIM , Indore on 5th October. The ability of central banks to maintain the value of fiat money came under a cloud in the wake of the financial crisis that hit the developed economies in 2007/08. A libertarian view about privately issued […]