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Articles Archive for 3 February 2008

Economics »

[3 Feb 2008 | One Comment | ]

This is a follow up to the previous post on Knowing Basic Microeconomics where I had claimed that micro theory is essentially codified common sense and that it is never too late to learn a bit of microeconomics. Many people have written to me (and some commented on the post) that they would like references to some work that makes micro theory accessible to the lay person.
I am not familiar with what is available and therefore I am not qualified to answer that question. I have read a few …

Development, Economics »

[3 Feb 2008 | 8 Comments | ]

Enclaves of Private Luxury
Just off the expressway from Mumbai, on the road leading into Pune, you see huge billboards advertising new housing developments with fancy names like “Whispering Pines” and “Orchard View” crowding each other, promising idyllic lifestyles of lavish comfort. They convey very urgently a palpable sense of how rapidly the market for private luxury dwelling is blossoming thanks to increased salaries and easy housing loans.
These billboards reflect the increased aspirations of the growing upper middle-class in India. Curiously, one set spoke to a deeper and disturbing reality. …