Wishing all the visitors and a very happy diwali. Blogging will resume on Tuesday.
Diwali has brought some good news for ME visitors. As per Palgrave econ blog rankings, Mostly Economics is back in the top 50 eco blog ranks.
Thanks for all the visits and comments. Keep them flowing.
Jeff Lacker has an interesting speech on financial literacy in times of crisis. He discusses whether we need more regulation or more efforts to increase literacy and consumer disclosures. His comparison of consumer goods with financial goods is also very interesting.
Calvin Trillin has written a terrific article in NYT:
“IF you really want to know why the financial system nearly collapsed in the fall of 2008, I can tell you in one simple sentence.”
What does Smart Guys imply? All those lower 1/3rd of a class who were smart and were just interested in making money. Read the entire piece for more details and finer points.
Krugman also responds to the article and kind of agrees to it.
Well, how times have changed. Now you find the best of the class dying to get into an i-bank, sell-side research, buy-side research, Private Equity, Hedge Funds etc. I have received a few emails from students specialising in finance (which was very embarrassing fort me as I am such a struggler still) wanting to become an i-banker without knowing anything about it.
Huge monies and hype made us believe something exciting was happening there. Well once you join you realise most of its is actually just castles in the air. Sad but true. Much of actual/useful work in finance is considered to be plain boring.
I came across three excellent interviews:
Excellent stuff.
https://www.intelligenteconomist.com/economics-blogs/
Mostly Economics 