The principle that exposure to economics should convey is that of the spontaneous coordination which the market achieves. — James M. Buchanan The last time I was out having lunch with my economics guru, I pondered the question that is… Read More ›
Month: January 2005
Natural disasters bring in their wake a feast for scavengers who find the victims easy pickings. Here is a story about Christian missionaries feasting among the vulnerable victims of the tsunami.
Imagine you get invited to a feast and when you arrive, at the door they hand you a ticket randomly drawn out of a hat. That ticket determines which of three different meals you will receive at this feast. You,… Read More ›
The last posting, Why is India Poor?, has drawn sufficient attention that there needs to be a follow-up addressing some of the points raised in the comments. It is interesting to note that the arguments against my view of Nehru… Read More ›