Garrett Hardin, an evolutionary biologist by education, first termed the phrase in a scientific paper he wrote titled "The Tragedy of the Commons" in the peer-reviewed journal Science in 1968. The tragedy of the commons describes an economic problem which individuals try to reap the greatest benefits from a given resource. Basically, every individual has an [...]
Month: February 2020
Special Economic Zones
This posting is in honour of the women workers of Brandix India Apparel City protesting at the gates of the SEZ. By Dr. Annavajhula J.C. Bose, Department of Economics, SRCC Economists, corporate magnates, business consultants and executives, and media babus are attracted to ‘miracles’ like that of the Japanese, Korean and Chinese economic miracles. Bubbly [...]
In Conversation With Manu S. Pillai: Economics Under a Historical Lens
Source: https://manuspillai.com/about/ Manu S Pillai is the author of the award-winning The Ivory Throne: Chronicles of the House of Travancore , Rebel Sultans: The Deccan from Khilji to Shivaji, and The Courtesan, the Mahatma & the Italian Brahmin: Tales from Indian History. The team had the privilege of discussing economics with a historical perspective and Mr. Pillai's books. To [...]
Gender Differences: The Need for a Conversation
By Bharati J Krishnan, Junior Editor As an eighteen year old economics undergrad at Miranda House, talking about gender differences is one of the most renegade things I could do. The fact is, while talking about gender differences, I'm neither supporting nor insinuating any truth in the belief that there are innate differences of abilities [...]
Fun Fact: Halloween Mask Predictions
By Bharati J Krishnan, Junior Editor Masks depicting presidential candidates for sale during Halloween America is gearing up for it's 59th quadrennial presidential election, to be held in November, 2020. The media is already conducting nuanced debates on who the democratic nominee would be and what chances they have on beating Trump. However, there's one [...]
The Perils of Monetisation
By Sakshi Dhawan, Deputy Editor Freakonomics begins in Haifa, Israel, with improbable results from an experiment that is now one of the most famous and foundational experiments in the field of behavioural economics. The experiment took place at a day-care centre, and was an attempt to dissuade tardy parents from picking up their wards after [...]
Sweatshops
This posting is a tribute to the great workforce economist Alan Krueger who had unfortunately died by suicide. By Dr. Annavajhula J.C. Bose, Department of Economics, SRCC Adam Smith, a brilliant forefather of what Paul Samuelson had called “the queen of the social sciences”, had the eccentric habit of banging his head against the wall [...]
Fun Fact: Inequity Aversion
By Sakshi Dhawan, Deputy Editor As economists (or aspiring ones, at least) all our talk of “rational, self maximising behaviour” can paint a slightly dreary picture of humans: while the term inequity aversion might initially lead you to challenge this assumption, we suggest you hold off judgement till the end of this fun fact! As [...]
In Conversation With Dr. Arunava Sen: Economic Theory, Solomon Judgement, and Voting Behavior
Professor Arunava Sen is a game theorist and specializes in Social Choice Theory, Mechanism Design, Voting and Auctions- the fascinating strategic side of the subject. Loved by his students, Prof. Sen has been teaching at ISI Delhi for more than 30 years. We encourage you to have a look at professor's research here: https://www.isid.ac.in/~asen/index.html.This post [...]
Arthashastra 