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In the Long Run we are all Dead : A Macroeconomics murder mystery The US economy faces a deep recession, raging inflation and an impending run on the dollar. President Wedik likes economics as much as a fish likes land. Should he listen to the Keynesians, who favour government intervention or the Monetarists, who favour market fundamentalism? Unable to decide, he delegates the tough decision to his Chief of Staff, Admiral Harcourt Green. Green laboriously goes through the process of coming up with an economic policy package...only to be mysteriously murdered on D-day. Details of the economic package dies with him... Something has to be done soon to avoid an economic collapse. What? How? Who committed the murder? And why? The murder story could probably have been constructed better but the crux of the book is economics! Recommend it to those looking for a light read on macroeconomics without running the risk of drowning in jargon. In this delig...

Although economics is often hailed as a boring science, I believe it gives us a sense of the reality around us in its own unique way. As a continuation of ‘Random Connections’ ( http://www.esnips.com/web/Observations ), I started thinking about a rather simple question – Why aren’t all men at the same level of wealth across the world? Maybe an economist would like to say, “Why doesn’t ‘Wealth parity’ exist across the world? This post looks at the question. The Wealth Equation Let’s look at some obvious reasons for this wealth disparity. If one looks at the economies around the world, one could probably get a consensus on the following reasons behind the wealth disparity. (This isn't an exhaustive list by any means but it more or less captures the 'capturable') 1) Relative disparity in level of technology, 2) Relative disparity in level of education, 3) Relative disparity in level of regulation in an economy and capital markets and, 4) Population I’m not t...