Fun fact: The Tragedy of the Commons

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 [...]

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 [...]

In Conversation with Dr. Subramanian Swamy: Research Days, the Slowdown, and Innovation

Dr. Subramanian Swamy is an Indian economist, politician, and lawyer. He is currently serving as a nominated member of Parliament in Rajya Sabha. He received his BA from Delhi University, MS (Mathematical Statistics) from Kolkata, and Ph.D. (Economics) from Harvard University in 1965. He has had a stellar teaching experience at Harvard University and IIT [...]

Dailynomics

Economics, the study of every day, An outsiders perception of the human ways A representation of daily decisions on a graph, A case study analyzing the price of your car Economics is every where! A tax that lowered your purchasing power, The consequences of a country's recession, very far The reason why a rupee has [...]