Well, my London stay is over and it was a fantastic time. Now, I am back in Qatar and I am sure it will be another great experience before the summer ends.
Let’s see what’s for breakfast!
The Boston University Undergraduate Economics Association (BU UEA) holds a special place in my heart as it was the first club I joined and I still continue to write for it. I learn from the many incredibly smart people I meet in the BU UEA so, it comes as no surprise that there is an economics journal of selected works.
Students who have put in great amounts of time to write about contemporary and theoretical aspects using economics, political theory, history and philosophy. It is truly worth a read! Congrats to all the contributors!
2. The Political Economy of Utopia – G. Hodgson
I really enjoyed this paper that stated how utopia is something that every economist (and person) strives for. Economists when stating their agenda against another school of economics namely want to get their version of utopia realized. Three economists are looked in detail: Marx, Hayek and Malthus.
I find the Hayek one to be very interesting because the Austrian economist thought he was going against utopia by arguing against socialism and communism. Not particularly, the arguments that Hayek made seem to stem from bad reasoning at times to just ‘accept’ it principles to realize a utopia of ‘spontaneous order’.
2. Trouble in Emerging Market Paradise – N. Roubini [Project Syndicate]
N. Roubini is hailed as one of the top economists of the day. He predicted the financial crisis and now provides reasons to the emerging market problem. Let’s be honest, there are problems in the BRICS that is causing them to stutter.
All of them are struggling midst a recovery from the horrifying financial crisis of 2007. Let’s hope that this is only temporary.
In the News:
1. India’s New Central Banker – [Washington Post]
The respected Raghuram Rajan has been chosen as India’s new central banker. As mentioned in the earlier link, India is suffering from high inflation, high interest rates and stuttering growth rate. The Rupee has been falling and it’s causing more import inflation.
So, Rajan has to curb inflation while increasing growth as well (also not allowing the Rupee to fall as much as it is). This will be tough for Rajan considering he does not have the independence that Fed Chairmen Ben Bernanke may have.
2. Buying a newspaper – W. Launder, C. Stewart & J. Lublin [Wall Street Journal]
Amazon Chief Executive Jeff Bezos has bought The Washington Post for $250 million. The newspaper industry has struggled in general and the newspaper itself has seen revenue falling 55% from 2007-2012.
Clearly, there were not many options left. Let’s see what J. Bezos can do with this acquisition of the landmark newspaper company.
For all those who may not care about football/ soccer (I appeal to all!) this is still a big problem. I don’t think this has ever been an issue quite honestly but, now since the greatest spectacle in football is to be brought to the Middle East for the first time, the temperature becomes a cause of concern.
I arrived today and I will admit the intense humidity – that I thought I was used to – was stifling. I quite enjoy it and everything is literally in A/C. But, the summer can get dangerously hot and Qatar has shed some light (pun not intended) on some interesting cooling technology.
However, I do wonder what will happen. I hope it does take place in Qatar as I do believe it will be a spectacle but clearly the weather is a cause for concern.
1. World’s First Lab Grown Burger – BBC
Well… Innovation! The benefits of this are quite amazing for society. Not only does the production of meat in this way consume less energy, it also leads to less pollution and consumes 1 % of the land in comparison to contemporary farming methods.
After reading Jonathan Foer’s book Eating Animals and even going for a lecture by Dr. Peter Singer the effects of factory farming on animals is awful. This lab grown meat is definitely a good alternative to look at in comparison to factory farming.
2. Do you know how to actually make a cup of tea? – C. Hitchens [Slate]
So, while you sip on your cup of tea and notice that you have made an unforgivable mistake… No need to throw it away. No harm no foul right? But, C. Hitchens writes here a delightfully short piece using G. Orwell tips on how to make a proper cup of tea.
This is interesting because I would love to go to a packed Starbucks with the busy people behind me craving their next caffeine surge and then I stop the Barista to remind them how tea should be made.
I promise I will be well received. 🙂
Well, I hope you found this quite entertaining and informative. I try to strike the right balance.
Enjoy your day ladies and gentlemen.