Comments on: A Set of Useful Tools

By: Random Musings » Economics taken out of context (?)

Random Musings » Economics taken out of context (?) — Wed, 04 Oct 2006 01:37:46 +0000

[...] ineering and medicine. For those interested in reading, I am starting with a list on Atanu’s blog and using google to get to good articles on the internet. T [...]

By: Kshitij Chandan

Kshitij Chandan — Mon, 22 Aug 2005 14:18:05 +0000

These models were a real good read, I found them very interesting as well as useful. If you have more in the list, please blog them too

By: fullymubbed

fullymubbed — Fri, 15 Jul 2005 09:10:37 +0000

“can Americans compete?”

I think Indians should start thinking about a few things too, like..

- Can we compete once we lose the offshore low-cost advantage?
- Can we step up our technologies to compete with innovative American companies?

By: fasterfene

fasterfene — Fri, 15 Jul 2005 06:32:06 +0000

Let me explain, I find in india, people are just jumping on capitalism bandwagon. And there is a growing tendancy to maximise the financial benifits.

Marginal utility is a beautiful concept… that for maximum satisfaction/contentment, one needs to not just maximise the input of only a few of the components (money in this case) but rather see to it that the entire experience as a whole is maximised.

So, maybe to let go maximising the financial aspect in favour of another component (as intangible as maybe family) to ultimately have optimum contentment.

BTW, Atanu, your writing is quite interesting. Thanks for sharing your unique perspective.

By: Ashish Hanwadikar

Ashish Hanwadikar — Thu, 14 Jul 2005 16:27:22 +0000

If we understand the concept of opportunity costs then dichotomy between means and ends disappears. There are no means; we only have ends. When we choose to achieve one end, we have to give up another. Kuch pane ke liya kuch khona padata hai!

By: Atanu Dey

Atanu Dey — Thu, 14 Jul 2005 12:53:46 +0000

Ashish, thanks for recommending Charlie Munger's speech. Definitely worth reading. fasterfene, I was coming to opportunity cost. Some time ago, I wrote a piece on the importance of understanding the concept of opportunity cost. The idea of marginal analysis is of course important but more to the specialist than to the average educated person. Law of diminshing returns? Certainly.

By: fasterfene

fasterfene — Thu, 14 Jul 2005 11:19:25 +0000

hmm, what about the concepts of
marginal utility/law of diminishing returns/opportunity cost,
&
bargaining theory

By: Ashish Hanwadikar

Ashish Hanwadikar — Wed, 13 Jul 2005 15:52:23 +0000

You may be interested in Charlie Munger's speech on a similar top. He is a fan of powerful models from multiple disciplines.

By: gawker

gawker — Wed, 13 Jul 2005 14:11:36 +0000

I think the state of our education system depends on how you look at it. I think our education system’s goal is to equip the student with knowledge that will enable him to earn a living. That means placing a lot of emphasis on the sciences. That is why Indians who come here to the United States feel they are way way ahead of the natives with respect to science and math. But in the States, the education system strives to create a well rounded individual with knowledge in all areas of life. But, it might not equip him with the tools needed to earn a living. Both education systems are a product of the need of society in each country. Thats what I think