Links for 26th April, 2019

  1. “The world economy desperately needs a plan for “peaceful coexistence” between the United States and China. Both sides need to accept the other’s right to develop under its own terms. The US must not try to reshape the Chinese economy in its image of a capitalist market economy, and China must recognize America’s concerns regarding employment and technology leakages, and accept the occasional limits on access to US markets implied by these concerns.”
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    Dani Rodrik explains the need for, as he puts it, peaceful coexistence – between China and the USA. My money is on this not happening: history, current affairs and game theory are my reasons for being less than optimistic.
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  2. “Yes, there was arsenic in Bangladesh’s wells, and it may have posed a health threat. But in areas where people were encouraged to switch away from the wells, child mortality jumped by a horrifying 45 percent — and adult mortality increased too. It turns out that the alternatives to the wells, for most people in Bangladesh, were all worse — surface water contaminated with waterborne diseases, or extended storage of water in the home, which is also a major disease risk.”
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    Unintended consequences is one of the most underrated phrases in economics.
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  3. “Only one of Murdoch’s adult children would win the ultimate prize of running the world’s most powerful media empire, but all four of them would ultimately have an equal say in the direction of its future: Murdoch had structured both of his companies, 21st Century Fox and News Corp, so that the Murdoch Family Trust held a controlling interest in them. He held four of the trust’s eight votes, while each of his adult children had only one. He could never be outvoted. But he had also stipulated that once he was gone, his votes would disappear and all the decision-making power would revert to the children. This meant that his death could set off a power struggle that would dwarf anything the family had seen while he was alive and very possibly reorder the political landscape across the English-speaking world.”
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    A very long, but very entertaining and informative read about the Murdoch family – its rise, its stumbles and its influence on the world today. Be warned, this is only the first part – but the entire thing is a great read.
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  4. “There has been a lot of churn in the Sensex over the decades. Corporate power in India seems to be more fragile than usually understood. Only a handful of companies such as Tata Motors, Hindustan Unilever, Mahindra & Mahindra, ITC, and Larsen & Toubro have managed to hold their place in the index. Many of the older industrial houses such as the Thapar group, the Walchand group and the Kirloskar group have slipped out of the benchmark index. Even the real estate and infrastructure giants who had a strong presence in the Sensex a decade ago — Jaiprakash Associates, Reliance Infrastructure and DLF, for example — are no longer in the index.”
    Niranjan Rajadhakshya writes in Livemint about the churn in the Sensex. Worth reading for the chart alone that appears midway through the article.
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  5. “The government has tried to change ideas about death through directives and incentives. In 2016, officials issued guidelines for encouraging more burials within nature, rather than delineating plots for tombs and memorials. In a revised law on funeral management in September, the central government called on local governments to provide financial support for public cemeteries, which would be cheaper for residents.”
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    An interesting read about the burial problem in China, and what they’re doing about it.

Author: Ashish

Prof at Gokhale Institute, Pune, Blogger at econforeverybody.com, Podcaster at anchor.fm/backtocollege

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