Thursday, March 29, 2007
"'It' that shall not be endorsed!"
and the Potter of this story is Paul Krugman.
I'm reading a lot of the Offshoring literature, trade models, prognostications etc. these days.
It's fascinating how economists like to 'hype' up the whole phenomenon.."We don't realize the danger.."
"Just education won't do..", " all skilled jobs will be lost too.."..."Inequality will rise tremendously."
And so on...
But all don't fail to add this
"But, do not think we are endorsing protectionism as an answer! That will definitely not help"
How can they go againt free trade benefits. It's well established. It's a theory.
You aren't fit to be called an economist if you don't endorse free trade.
In our development class the other day, we were watching a debate between Bob Solow, Jagdish Bhagwati(very gay) and our man Krugman.
After both had stressed ..protectionism over their dead body..Krugman, started with .."I wouldn't say protectionism is not a solution. If we close up tomorrow, definately the income distribution consequences will not get worse..." He said it! I think my jaw dropped.
But Krugman is known to always take the practical approach(not the protectionism bit. that was a side comment in his speech). That's why I like him.
I don't know if any of you caught him on the Colbert Report. YOu should check out his interview..You can't but love him!
and the Potter of this story is Paul Krugman.
I'm reading a lot of the Offshoring literature, trade models, prognostications etc. these days.
It's fascinating how economists like to 'hype' up the whole phenomenon.."We don't realize the danger.."
"Just education won't do..", " all skilled jobs will be lost too.."..."Inequality will rise tremendously."
And so on...
But all don't fail to add this
"But, do not think we are endorsing protectionism as an answer! That will definitely not help"
How can they go againt free trade benefits. It's well established. It's a theory.
You aren't fit to be called an economist if you don't endorse free trade.
In our development class the other day, we were watching a debate between Bob Solow, Jagdish Bhagwati(very gay) and our man Krugman.
After both had stressed ..protectionism over their dead body..Krugman, started with .."I wouldn't say protectionism is not a solution. If we close up tomorrow, definately the income distribution consequences will not get worse..." He said it! I think my jaw dropped.
But Krugman is known to always take the practical approach(not the protectionism bit. that was a side comment in his speech). That's why I like him.
I don't know if any of you caught him on the Colbert Report. YOu should check out his interview..You can't but love him!
Labels: Economics
Tuesday, March 27, 2007
My morale is terribly low.
I am one paper down and have 4 more to go.
I just read the question Peter Phillips has asked us to solve for our term paper.
Safe to say, I cannot understand a word. Long Memory Parameter Estimation!
I have to meet him tomorrow with what data I'm gonna use.
He is one of the three greatest economtricians in the world and THE most prolific econometrician! He was initially planning to have an oral exam..think I would have died from the worry..
But he's awfully nice.
I tell myself I must put in extra effort, but 3 weeks and 3 other papers to finish up..
Life is hard sometimes.
I am one paper down and have 4 more to go.
I just read the question Peter Phillips has asked us to solve for our term paper.
Safe to say, I cannot understand a word. Long Memory Parameter Estimation!
I have to meet him tomorrow with what data I'm gonna use.
He is one of the three greatest economtricians in the world and THE most prolific econometrician! He was initially planning to have an oral exam..think I would have died from the worry..
But he's awfully nice.
I tell myself I must put in extra effort, but 3 weeks and 3 other papers to finish up..
Life is hard sometimes.
Labels: Work at Workstation 9
Sunday, March 25, 2007
The Mystery that is China!
Here's a graph mapping China's and India's CPI yearly inflation for the last 10 years.
I am researching into skill premium effects of Offshoring, and China's inflation data really caught me by surprise. I checked with my friend and he said, in China, they speak more often about deflation.
He did mention though that of recent, with greater social security, consumer spending has gone up and inflation is mush higher. Now it's about 5%.
Anyway, I was reading a report by Abhijeet Banarjee , and he mentioned this about why everybody is running to China
" Is it all a matter of luck? Perhaps people are investing in China because everyone else is. Or is it something deeper? After all, despite being run by a party that calls itself communist, China offers a pro-business environment, security of property, and a docile labor force. Is this what investors are looking for? Or is it China’s ability to produce a seemingly endless supply of competent entrepreneurs who run China’s industry (including most of what foreigners nominally run)? Or should we entertain an altogether more daring possibility: that China’s is a healthy and relatively well-educated labor force, tolerant of the inequalities that markets produce because it has known equality—the accidental gift of 30 years of communism?
The truth is that the Chinese machine has so many potential drivers that it is anybody’s guess why it runs. Moreover, no one really knows why all the forces that should have pushed China the other way—a corrupt and opaque system of governance, a decrepit banking system, dwindling natural resources—have not done more damage. But, then, explaining what happens in a country by examining it in isolation is always an unfair challenge. It is easier and also more useful to look for patterns that hold across a large number of countries... "
This reminds me of the excellent discussion we had in my development class on corruption and economics growth. And surprise surprise(actually no surprise if you've read enough development literature), corruption(in it's many forms) had an insignificant effect on growth..
We discussed how some institutions must have some element of corruption to grow.
Let me exemplify by taking a real life example my father has to deal with everyday. Lets take the rigid labour laws in India. Trade Unionism is making a resurgence in Bangalore. And probably elsewhere, when poor workers see so many young and rich workers they are bound to feel left out of the growth process.
This implies, the trade union BOSS is gonna try and demand for more wage for all his workers, or if he is not that concerned, will threaten to hold a strike, if factory owners don't put money in his pocket. It's corruption that cannot be avoided. It's corruption that helps growth. Interesting ain't it.
Studies also showed decentralized corruption is worse and centralized corruption. But compare India and Indonesia..you get an opposite trend.
Anyway, I have a very nice part time job in the summer studying emerging nations. So be prepared to pick up some FAQ's about countries you wouldn't even have heard of:)
I need sleep!
Labels: Economics
Sunday, March 18, 2007
Here's why I love reading Surjit S Bhalla.
An excellent article about the much hoo-haa about high inflation estimates.
I was wondering about the moves by PC to ban futures trading and wheat and capping cement prices. It seemed a little "confounding".
Was this supply side shock a trend, or something to lose some hair about.
Surjit Bhalla gives an excellent analysis why when accounted for seasonality, inflation is not really above normal. The government is trying sundry(non serious) measures to pretend to cap inflation. When the inflation goes down on it's own, it will take all the credit.
It's time we as a population are aware of the true facts.
Here's the BS link. An excellent paper.
http://www.business-standard.com/opinionanalysis/storypage.php?tab=r&autono=277966&subLeft=2&leftnm=4
An excellent article about the much hoo-haa about high inflation estimates.
I was wondering about the moves by PC to ban futures trading and wheat and capping cement prices. It seemed a little "confounding".
Was this supply side shock a trend, or something to lose some hair about.
Surjit Bhalla gives an excellent analysis why when accounted for seasonality, inflation is not really above normal. The government is trying sundry(non serious) measures to pretend to cap inflation. When the inflation goes down on it's own, it will take all the credit.
It's time we as a population are aware of the true facts.
Here's the BS link. An excellent paper.
http://www.business-standard.com/opinionanalysis/storypage.php?tab=r&autono=277966&subLeft=2&leftnm=4
Labels: India
I had to post this link.
Innovative solution by the Government to reduce the scourge of "missing women".
Will it work?
Check out this link http://www.business-standard.com/opinionanalysis/storypage.php?tab=r&autono=278010&subLeft=2&leftnm=4
Innovative solution by the Government to reduce the scourge of "missing women".
Will it work?
Check out this link http://www.business-standard.com/opinionanalysis/storypage.php?tab=r&autono=278010&subLeft=2&leftnm=4
Labels: India
Saturday, March 17, 2007
The highs and the lows..
What goes up must come down.
Agony and Ecstasy..
I went for gymnastics training yesterday. I have not been so happy in a long time. Many reasons added up to making my saturday morning a fine one. My (presumably) near perfect handstand was achieved after many trial and errors. Just when I was revelling in the glory of achievement, I lost my concentration a bit and bam! I fell on my foot. I now limp my way around. Absolutely disheartening. Guess I ll have to stay off my excercise routine for a couple of days, and just when it has become an obsession. I still try an do stretches.
Anyway, my foot is better today. I really really hope it's in good shape by saturday, bcoz come what may, I will go for the next training session. I was told the way my feet arches(I have noticed it myself) is perfect for ballet dancers. So that's on the summer agenda! Gosh I love Singapore!!
I'll be tremendously busy this week, so there will be no posts for a long time.
Hope my foot recovers soon. It's not an experience to be had. It takes me forever to go my room to the loo.
So many things, So little time. Think I'll camp out at Workstation 9 this week.
PS: Yesterday with my broken foot I went for the St Patricks Day celebration..and bought myself a fancy Green "Guiness" hat. Trust Singapore to cough up so many Irish people. This place is a melting pot..whats the word?..starts with 'C'-for the first time, the web hasn't helped me..What's the word?? Neep help..
PPS:Bangladesh beat India??? I only hope Raikkonen beats Alonso..else it's gonna be a fairly depressing sunday.
What goes up must come down.
Agony and Ecstasy..
I went for gymnastics training yesterday. I have not been so happy in a long time. Many reasons added up to making my saturday morning a fine one. My (presumably) near perfect handstand was achieved after many trial and errors. Just when I was revelling in the glory of achievement, I lost my concentration a bit and bam! I fell on my foot. I now limp my way around. Absolutely disheartening. Guess I ll have to stay off my excercise routine for a couple of days, and just when it has become an obsession. I still try an do stretches.
Anyway, my foot is better today. I really really hope it's in good shape by saturday, bcoz come what may, I will go for the next training session. I was told the way my feet arches(I have noticed it myself) is perfect for ballet dancers. So that's on the summer agenda! Gosh I love Singapore!!
I'll be tremendously busy this week, so there will be no posts for a long time.
Hope my foot recovers soon. It's not an experience to be had. It takes me forever to go my room to the loo.
So many things, So little time. Think I'll camp out at Workstation 9 this week.
PS: Yesterday with my broken foot I went for the St Patricks Day celebration..and bought myself a fancy Green "Guiness" hat. Trust Singapore to cough up so many Irish people. This place is a melting pot..whats the word?..starts with 'C'-for the first time, the web hasn't helped me..What's the word?? Neep help..
PPS:Bangladesh beat India??? I only hope Raikkonen beats Alonso..else it's gonna be a fairly depressing sunday.
Labels: Update
Tuesday, March 13, 2007
When Asian Ministers do not keep up with the times!
I don't think my Indian friends will be aware, but Ministers from Japan to Malaysia, are contesting strongly for the foot in my 'dimwit' mouth award in recent times.
It was some time ago, when I was having my favorite waffles and tea at Coffee Bean and Tea Leaves , that I almost spilled my tea, when I read the headline
'Japanese minister wants 'birth-giving machines', aka women, to have more babies'. This one is from the Gaurdian. But the Straits Times also had a similar headline.
Many other Japanese Ministers have been caught slighting women's dignity in recent times. You can read this article at
http://www.guardian.co.uk/japan/story/0,,2001056,00.html
Today, in a similar setting I read this article about Malaysia's Minister of Tourism making the following remark
" All bloggers are liars, they cheat people using all kinds of methods.
From my understanding, out of 10,000 unemployed bloggers, 8,000 are women."
Here's an appropriate reply from a Malaysian Woman blogger
http://sloone.wordpress.com/2007/03/09/why-lah-now-they-are-picking-on-us-women-bloggers/
Singapore has not made any such Gaffe. They'd be in deep trouble. The strength of women is remarkable here.
Although they are encouraging women to have more and more children and at the same time, asking women staying at home to return to work. I've read some complaints from women in the paper.
I don't think my Indian friends will be aware, but Ministers from Japan to Malaysia, are contesting strongly for the foot in my 'dimwit' mouth award in recent times.
It was some time ago, when I was having my favorite waffles and tea at Coffee Bean and Tea Leaves , that I almost spilled my tea, when I read the headline
'Japanese minister wants 'birth-giving machines', aka women, to have more babies'. This one is from the Gaurdian. But the Straits Times also had a similar headline.
Many other Japanese Ministers have been caught slighting women's dignity in recent times. You can read this article at
http://www.guardian.co.uk/japan/story/0,,2001056,00.html
Today, in a similar setting I read this article about Malaysia's Minister of Tourism making the following remark
" All bloggers are liars, they cheat people using all kinds of methods.
From my understanding, out of 10,000 unemployed bloggers, 8,000 are women."
Here's an appropriate reply from a Malaysian Woman blogger
http://sloone.wordpress.com/2007/03/09/why-lah-now-they-are-picking-on-us-women-bloggers/
Singapore has not made any such Gaffe. They'd be in deep trouble. The strength of women is remarkable here.
Although they are encouraging women to have more and more children and at the same time, asking women staying at home to return to work. I've read some complaints from women in the paper.
Labels: Blogs
Monday, March 12, 2007
A dream come true!
I always wanted to be a gymnast. I used to go for training when I was very small, but somehow I never pursued it.
But the wish always remained.
And now I have a chance again!!
I signed up for the gymnast recruitment. There's gonna be training every saturday. Gosh I'm so excited!!
I feel young again:)
I always wanted to be a gymnast. I used to go for training when I was very small, but somehow I never pursued it.
But the wish always remained.
And now I have a chance again!!
I signed up for the gymnast recruitment. There's gonna be training every saturday. Gosh I'm so excited!!
I feel young again:)
Labels: Arbit
Saturday, March 10, 2007
Is there no suspense left?
MSN's report on Deepa Mehta's oscar nominated "Water" must be sued.
I was excited about watching the movie until MSN very sweetly told me the ending. And without a spoiler warning. Saved me 10 bucks anyway. But still!
If you wish your "water" experience ruined, check out
http://content.msn.co.in/Entertainment/Bollywood/bollywoodIFM_090307_1050.htm
MSN's report on Deepa Mehta's oscar nominated "Water" must be sued.
I was excited about watching the movie until MSN very sweetly told me the ending. And without a spoiler warning. Saved me 10 bucks anyway. But still!
If you wish your "water" experience ruined, check out
http://content.msn.co.in/Entertainment/Bollywood/bollywoodIFM_090307_1050.htm
Labels: Movies
Is there an education revolution taking place in India(the big cities atleast)?
Naveen Mandava seems to think so. The burgeoning of small private schools in the slums in Delhi, he believes is a rampant phenomenon. Wonder what the situation is in Mumbai?
I can't say I have seen this phenomenon in Bangalore. Poorly run Govt. Schools are still the target of the poor.
Anyway, I believe that the higher income families and companies must take initiative to send the children of a couple of their maids/workers to school(preferably girls and preferably to private schools). A mini civil society movement.
Check out the article at
http://indianeconomy.org/2007/03/09/the-unknown-education-revolution-in-india/
This is an excellent blog for those concerned about the Indian Economy and where it is headed. It has a bunch of highly qualified libertarians writing in.
Naveen Mandava seems to think so. The burgeoning of small private schools in the slums in Delhi, he believes is a rampant phenomenon. Wonder what the situation is in Mumbai?
I can't say I have seen this phenomenon in Bangalore. Poorly run Govt. Schools are still the target of the poor.
Anyway, I believe that the higher income families and companies must take initiative to send the children of a couple of their maids/workers to school(preferably girls and preferably to private schools). A mini civil society movement.
Check out the article at
http://indianeconomy.org/2007/03/09/the-unknown-education-revolution-in-india/
This is an excellent blog for those concerned about the Indian Economy and where it is headed. It has a bunch of highly qualified libertarians writing in.
Labels: Education
Friday, March 09, 2007
My good friend Mathew, after only 2 years of asking him, sent me some photos that were taken in College. Thought I'll put a couple up.
To University Coffee house, where I :
1. Read readings on socialism which could only be digested when mixed with steaming hot idli-Vada's and the Coffee..oh blessed coffee. Right out of the plantations in Coorg.
2.Flirted with Malhotra(my teacher, I wonder if he realized I was in his class)
3. Met my dear dear Thomas for breakfast and conversation every- so- often
4. Took Anjana, Aby(sometimes, when he could spare the time, i.e between his bum-ming of cigs) and Mathew and Swot(rarely) between tutes and classes to have their coffee..again the blessed coffee!
5. Had their Coffee. South Indian coffee in it's element. The only coffee that can beat their coffee is my Mommy's filter coffee.
Anyway blogreaders, I have decided to go to Delhi in June. Hopefully I can catch Mathew, Maity and Kavita then. Since most of you are from Delhi, you can fondly hope to see me then. Anjana, I'll take you along.
Also, I watched "The lives of others" yesterday. It won the Oscar for best foreign film. A chilling reminder of the lack of privacy in the pre - Fall of Berlin Wall- era. It makes you count your blessings!
Labels: College
Thursday, March 08, 2007
India has 36 billionaires! And three in the top twenty(including Mittal(He's an NRI, isn't he?). Just like we add Naipaul to our list of Nobel winners). And India holds the number one position in Asia, above Japan's 24.
Good going Indians.
Ofcourse it's a further reflection of the growing wealth of our country while millions are left behind in poverty. But I truly believe, redistribution can only get you so far. Gotta raise the economic pie=> economic growth(with constant stress on education).
My professor and I were discussing the way forward for developing countries like India. He still believes all the resources must be diverted towards education. I say target education the other way. Either make the sector competitive or get the corporate sector involved.
Since India has a comparative advantage(absolute too) in it's highly computer skilled, lowe-r wage population, invest fully in it. Let the sector with the maximum returns grow unbridled. The Government must then promise to give them cuts etc. if they complete their quota of social responsibility. Each company adopting a village like HP did, can be a good way out of poverty.
That way, you are not coming in the way of the efficiency and also accomplishing you social goals.
Yesterday I studied the Dornbusch-Fischer-Samuelson trade model for a continuum of goods. For the first time(1977) they introduced trade in infinite goods. With and without a tradable sector and with and without tariffs and with and without transfers.
We studied the implications of the rise of China and India on the relative wage, Jobs and economic size of America. Assuming the labour force of the ROW (China +India) rises, the effect on wages was unambiguously positive, Jobs(with no structural unemployment) was also okay as long as people were immediately redeployed..but as regards economic size, we found that America's size would decrease with time.
With all the offshoring controversy dealing with jobs and wages(short term concerns), and American economists claiming it brings in all the welfare benefits of International trade, I was left wondering, why aren't they worried about the economic size((WL)/(WL+W*L*)).
Maybe there are more intricate models that give an opposite result, but I hardly see discussion of economic size in the offshoring literature. Again it's a long run phenomena and economists may still be living strictly by keynes's long run belief. I think it's cause to worry. Guess it requires some more thought. I'll get back as I learn more.
Yesterday I attented Takatoshi Ito's talk of Asian economic integration. The morale somehow seems very low. Two major hurdles to cross are, a stable exchage rate regime(everybody floating) and more importantly, put politics behind. Can Japan and China ever cooperate? Singapore must be praying everyday for something to work out. I cannot believe how it's managed to survive this long. Only 4 million people!! I almost feel like pulling it's cheeks(face one)
Good going Indians.
Ofcourse it's a further reflection of the growing wealth of our country while millions are left behind in poverty. But I truly believe, redistribution can only get you so far. Gotta raise the economic pie=> economic growth(with constant stress on education).
My professor and I were discussing the way forward for developing countries like India. He still believes all the resources must be diverted towards education. I say target education the other way. Either make the sector competitive or get the corporate sector involved.
Since India has a comparative advantage(absolute too) in it's highly computer skilled, lowe-r wage population, invest fully in it. Let the sector with the maximum returns grow unbridled. The Government must then promise to give them cuts etc. if they complete their quota of social responsibility. Each company adopting a village like HP did, can be a good way out of poverty.
That way, you are not coming in the way of the efficiency and also accomplishing you social goals.
Yesterday I studied the Dornbusch-Fischer-Samuelson trade model for a continuum of goods. For the first time(1977) they introduced trade in infinite goods. With and without a tradable sector and with and without tariffs and with and without transfers.
We studied the implications of the rise of China and India on the relative wage, Jobs and economic size of America. Assuming the labour force of the ROW (China +India) rises, the effect on wages was unambiguously positive, Jobs(with no structural unemployment) was also okay as long as people were immediately redeployed..but as regards economic size, we found that America's size would decrease with time.
With all the offshoring controversy dealing with jobs and wages(short term concerns), and American economists claiming it brings in all the welfare benefits of International trade, I was left wondering, why aren't they worried about the economic size((WL)/(WL+W*L*)).
Maybe there are more intricate models that give an opposite result, but I hardly see discussion of economic size in the offshoring literature. Again it's a long run phenomena and economists may still be living strictly by keynes's long run belief. I think it's cause to worry. Guess it requires some more thought. I'll get back as I learn more.
Yesterday I attented Takatoshi Ito's talk of Asian economic integration. The morale somehow seems very low. Two major hurdles to cross are, a stable exchage rate regime(everybody floating) and more importantly, put politics behind. Can Japan and China ever cooperate? Singapore must be praying everyday for something to work out. I cannot believe how it's managed to survive this long. Only 4 million people!! I almost feel like pulling it's cheeks(face one)
Labels: Update
Tuesday, March 06, 2007
"F**k Forever" by Babyshambles is my new favorite song. What absolute brilliance! Maybe it's all the drugs(Pete Doherty is the lead Singer). In that case, snort some more Pete..
There were two earthquakes today. I didn't feel them. All my friends did. I'm afraid I'm losing my ESP of sensing Earthquakes. I used to be very good at it before. Tis a sad day.
There were two earthquakes today. I didn't feel them. All my friends did. I'm afraid I'm losing my ESP of sensing Earthquakes. I used to be very good at it before. Tis a sad day.
Labels: None
Saturday, March 03, 2007
Do I want an emacs client for blogger?
I don't know what the fuck that means. Some super smart tammy from India T V Raman, a research scientist at google is offering it to all bloggers. I checked out his page. PhD in applied mathematics. He lives with a dog. And has a bunch of software patents. 9.78/10 GPA. And to think I had so many papers to submit this term, I had no time to breathe.
Anyway, a quick post before I go back to work.
Today for curiosity I went for a theology session. My room-mate is very active in the church circuit. I took two of my classmates along. One a protestant, who shifted from being an "unbeliever" to being a "believer" some years back. The other who came to singapore as an atheist, and started attending church cell group meetings and is now an agnostic..in other words pretty lost. And myself. I can once remember being an agnostic. But I can't seem to remember
why I now consider myself an atheist. I'm fairly happy being that too.
The topic was "faith and reason". The brother who gave the speech was not one of the better ones. He initially cracked a joke of a religious nature that nobody got. It was a flowchart speech. As in ".. There are three kinds of truth... There are two kinds of faith: Objective and subjective etc...". After that we were made to sit at tables with some church reps and discuss the topic. It was interesting. After putting my thoughts forward, the girl Stella was kind enough to tell me that I still had subjective faith, but of a diifferent nature. I promise I will get into this in a greater detail when this term is done.
After the talk, for the first time I went shopping! My first whimsical shopping spree in Singapore. There are such beautiful clothes in Singapore. Since I've managed to keep up my gym routine for quite some time now, I feel all the more like buying new things. Or it may just be a way to spend my frustrations.
Yesterday I attended the most exhilerating seminar. This chap, Olivier de la Grandville gave a wonderful seminar on the proof of "smith's conjecture" or the invisible hand. It was new and fascinating and straightforward and for the first time, I felt like I'd followed at least most of what he said. Else I hardly even follow the first 10 minutes of these seminars. All the math goes above my head. My professor keeps telling me that one day I will be able to follow 15 minutes and then 20..
But the experience of being one the first few to come to know about this new discovery(which he believes is the biggest achievement of his career) was thrilling. Maybe it was the way he gave the seminar, but I felt so good. I wish we had these in India..
Anyway I'll leave with this link to Brad De Long's blog. He has written a post of 'how rich was Mr Darcy anyway?'. Being fond the book Pride and Prejudice(I cannot hide the fact that I did enjoy Jane Austen's books.Most of my friends didn't), I found this post quite entertaining. Check it out http://econ161.berkeley.edu/movable_type/
Update: There's not a direct link to the post . You'll have to scroll down and find it yourself. Sorry!
I don't know what the fuck that means. Some super smart tammy from India T V Raman, a research scientist at google is offering it to all bloggers. I checked out his page. PhD in applied mathematics. He lives with a dog. And has a bunch of software patents. 9.78/10 GPA. And to think I had so many papers to submit this term, I had no time to breathe.
Anyway, a quick post before I go back to work.
Today for curiosity I went for a theology session. My room-mate is very active in the church circuit. I took two of my classmates along. One a protestant, who shifted from being an "unbeliever" to being a "believer" some years back. The other who came to singapore as an atheist, and started attending church cell group meetings and is now an agnostic..in other words pretty lost. And myself. I can once remember being an agnostic. But I can't seem to remember
why I now consider myself an atheist. I'm fairly happy being that too.
The topic was "faith and reason". The brother who gave the speech was not one of the better ones. He initially cracked a joke of a religious nature that nobody got. It was a flowchart speech. As in ".. There are three kinds of truth... There are two kinds of faith: Objective and subjective etc...". After that we were made to sit at tables with some church reps and discuss the topic. It was interesting. After putting my thoughts forward, the girl Stella was kind enough to tell me that I still had subjective faith, but of a diifferent nature. I promise I will get into this in a greater detail when this term is done.
After the talk, for the first time I went shopping! My first whimsical shopping spree in Singapore. There are such beautiful clothes in Singapore. Since I've managed to keep up my gym routine for quite some time now, I feel all the more like buying new things. Or it may just be a way to spend my frustrations.
Yesterday I attended the most exhilerating seminar. This chap, Olivier de la Grandville gave a wonderful seminar on the proof of "smith's conjecture" or the invisible hand. It was new and fascinating and straightforward and for the first time, I felt like I'd followed at least most of what he said. Else I hardly even follow the first 10 minutes of these seminars. All the math goes above my head. My professor keeps telling me that one day I will be able to follow 15 minutes and then 20..
But the experience of being one the first few to come to know about this new discovery(which he believes is the biggest achievement of his career) was thrilling. Maybe it was the way he gave the seminar, but I felt so good. I wish we had these in India..
Anyway I'll leave with this link to Brad De Long's blog. He has written a post of 'how rich was Mr Darcy anyway?'. Being fond the book Pride and Prejudice(I cannot hide the fact that I did enjoy Jane Austen's books.Most of my friends didn't), I found this post quite entertaining. Check it out http://econ161.berkeley.edu/movable_type/
Update: There's not a direct link to the post . You'll have to scroll down and find it yourself. Sorry!
Labels: Update
