PJ O'Rourke finds this alternative definition of the major branches of economics,microeconomics and macroeconomics, to be better: " Microeconomists are wrong about particular things, while macroeconomists are wrong about things in general."
The dark ‘American’ clouds over Syria are finally starting to disappear, even the Indian rupee seems off ventilator and Obama can cling on to his Nobel Prize speech. Mr. Obama on august 31 made a surprise announcement that he wanted congressial approval for military strike in Syria. This was in response to the ‘rebel attacks’ [...]
Twenty-five per cent of teachers at India's government primary schools absent themselves from work on any given day, and only 50% of teachers present in schools are actually engaged in teaching, says a recent World Bank research project.Less than half of the children in fourth level classes can do first level math; in small villages [...]
This world of, tall skyscrapers, flying techno birds (read airplanes), zooming motor engines (read cars), is our version of mother earth. The real version, apparently, had more green and a little less grey. But the question glaring us now is whether man's concrete footprints are finally starting to weigh down on the environment. And now [...]
The explanation to this interesting comparison is provided by Kaushik Basu in his latest book An Economist's Miscellany. As Basu recounts, “Jim Corbett was out in the hills of Kumaon in search of a dangerous man-eater....He certainly had his gun, cocked in the direction from where he heard a sound, when he suddenly realised that [...]