Economics

This post is about Karl Marx’s ideas of capitalism and its certain tenets that seemed philosophically incorrect to him. I came across a blog post on “Why Libertarians should reach Marx?”, and it seemed to have quite a few useful…

Veblen Effect and food security in India

Cultural norms have a significant effect on preference of goods. An article in Mint’s…

I came across the following comment on Scott Sumner’s blog, which really sums up the idea of microeconomics.

You have a straightforward economic argument showing that it is not in people's interest to do X.

Jomo Kwame Sundaram, the co-ordinator for Economic and Social Development at the Food and Agriculture Organization, writes about the differences in the responses of small and big farmers to increasing food prices in the Economic and…

Clive Crook of Bloomberg View has used the premise of Dani Rodrik’s latest book Economics Rules to highlight issues with the field of Economics. He agrees with the points that Rodrik makes in his new book, but goes on to further point out an…

The Micro-Multinational Firm

Local Motors, a small car company in Arizona, US, has an ironical name: it is anything but local. It is a…