Our descriptions of reality are necessarily based on our perception of reality. But our descriptions are not what reality is because what we can perceive given our limited faculties cannot be comprehensive or even undistorted. The world appears magical but… Read More ›
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Viruses, Ideas and their Life Expectancy
The wiki page about virus says that it “is a small infectious agent that replicates only inside the living cells of other organisms. Viruses can infect all types of life forms . . .” Ideas are analogous to viruses because… Read More ›
ADLI: A Lesson from the Age of Industrialization
The transition from an agrarian to an industrial society was the great challenge that faced economies before. Much attention was paid on ways to make the transition. Of the various models of development (such as export-led growth, import-substitution industrialization, and… Read More ›
Institutions Matter, not Personalities
A few days ago in this weblog, I wrote about our wonderful reforms and wondered why we don’t ask what it was that made our economy so desperately in need of reforms. The causes are many. As they say, dhoondo… Read More ›
US Trade Deficit, Buffett, and Credit-Constraints
Yuvaraj Galada alerted me to the October 26th, 2003, edition of Fortune in which Warren Buffet worries that “America’s Growing Trade Deficit Is Selling the Nation Out From Under Us.” Then he suggests a remedy for the problem. The solution… Read More ›
