April 22, 2013
by Atanu Dey
2 Comments
The first lesson of development economics is that economic policies matter. Even if a country has everything going for it, lack of good policies condemn it to poverty. So it is easy to believe that if only good policies were … Continue reading
December 16, 2012
by Atanu Dey
2 Comments
From a broad philosophical perspective, competition is encoded in the basic DNA of the universe. At every level of analysis, competing forces seek domination. At the largest inanimate scales, gravitational and electromagnetic forces constantly compete in stars. At the smallest … Continue reading
December 11, 2012
by Atanu Dey
1 Comment
Markets work, in general. That’s like saying, people are healthy in general. But people do fall sick. Similarly, occasionally markets fail. That’s when you need intervention, not otherwise. But it cannot be any random intervention. The treatment has to fit … Continue reading
December 5, 2012
by Atanu Dey
3 Comments
In response to my two earlier posts on “Understanding Economics” and its followup, the matter of minimum wages has come up in the comments. Some ideas have the peculiar characteristic that they appear to be good at first glance but … Continue reading
November 30, 2012
by Atanu Dey
17 Comments
Here I reply to some of the comments to my post “Understanding Economics” of a few days ago.
November 26, 2012
by Atanu Dey
16 Comments
A while ago a non-economist friend who had read my book “Transforming India” said that as he did not understand economics would I write a book explaining some of the basic concepts of economics? It would be a “prequel” to … Continue reading
June 14, 2012
by Atanu Dey
2 Comments
Economic growth, development, progress—whatever you call it—is neither inevitable nor impossible. There are lots of examples of economies that continue to struggle with economic growth. And there are many examples of economies that have made rapid progress. What distinguishes the … Continue reading
June 14, 2012
by Atanu Dey
0 comments
What is poverty? Who’s a poor person? What’s a rich economy? These questions have engaged some of the brightest people for centuries — and no doubt it will continue to fascinate some for centuries. My answer to what is poverty … Continue reading
March 16, 2012
by Atanu Dey
4 Comments
Besides being very useful, game theory is fun. A broad liberal education should include at least the basics of game theory, just as it should include the fundamentals of microeconomics. Indeed, game theory is one of the most important tools … Continue reading
March 13, 2012
by Atanu Dey
1 Comment
This opens up an interesting can of worms. But first, here are some excerpts from the Huffington Post article “India Cancer Ruling Opens Door For Cheaper Drugs”:
September 30, 2011
by Atanu Dey
8 Comments
Loknath Rao, a regular friend of this blog, sent me the following TED video with the comment, “Precisely your views. Thought you would like it.” Here it is for your delight.
February 15, 2011
by Atanu Dey
5 Comments
In a license control quota permit raj, the link between big businesses and the government is bi-directional. The government hands out licenses in exchange for part of the loot that the businesses make from their monopolistic businesses. Just the other … Continue reading
December 21, 2010
by Atanu Dey
2 Comments
Ronald Coase, the author of “The Nature of the Firm” (1937), turns 100 on December 29th, reports The Economist. Wow! If you have not heard about Coase — which is likely if you are not an economist — you have … Continue reading
December 16, 2010
by Atanu Dey
16 Comments
It’s funny how India produces world-class economists but is an impoverished third-world country with an economy that languishes at the bottom of the barrel. Not ha-ha funny but ironically funny. Still, as Indians we can hold up our heads with … Continue reading
March 30, 2010
by Atanu Dey
8 Comments
The recent Princeton University Press book by former Harvard president Derek Bok titled “The Politics of Happiness: What Government Can Learn from the New Research on Well-Being” got some reviewers unhappy, as this article in the Atlanticwire.com reports. I have … Continue reading
March 3, 2010
by Atanu Dey
6 Comments
Among economists who can explain economics to anyone even remotely interested in the subject, Prof Kaushik Basu is in a league of his own. Many years ago as a graduate student at Berkeley, I had had the privilege of hosting … Continue reading
February 23, 2010
by Atanu Dey
4 Comments
Excellent profile of Paul Krugman in the New Yorker by Larrisa MacFarquhar. It is long and interesting. A few excerpts below the fold. This is a must read if you have even a passing interest in economics. Economics is about … Continue reading
April 9, 2009
by Atanu Dey
1 Comment
Navi Radjou’s blog post titled, “India’s Rural Innovations: Can They Scale?” in harvardbusiness.org concludes with: I strongly believe that the only way India can sustain its long-term economic growth is by unleashing and harnessing the creativity of its grassroots entrepreneurs, … Continue reading
February 5, 2009
by Atanu Dey
3 Comments
The radical ignorance displayed by those who claimed that the government had created a laptop costing Rs 500 (~US $10) is jaw-dropping spectacular. How on earth can one for even one moment entertain the idea that any entity — least … Continue reading
February 2, 2009
by Atanu Dey
0 comments
The book, The Gridlock Economy, gets added to the growing pile of stuff to read. Every so often an idea comes along that transforms our understanding of how the world works. Michael Heller has discovered a market dynamic that no … Continue reading