Lunch With FT: Richard Thaler

“One thing for sure is Remain is a horrible name. It’s weak. Whereas Leave is strong.”

Richard Thaler is by now a household name – well, I think so at any rate, and this interview that he gave to Tim Harford (who should be a household name!) is worth reading in its entirety. You’ll need to sign in/register, I think – sorry about that.

Quick update: we’re conducting a workshop on behavioral economics for undergrad students at GIPE this week, and I’ll post nuggets such as these along the way.

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India: Links for 19th August, 2019

CCS is organizing a conference around the theme “Legal Foundations of a Free Society”, and it is being hosted by the Gokhale Institute. One of the speakers is Shruti Rajagopalan, whose writing I have long admired. Here are five pieces by Shruti that I thoroughly enjoyed reading:

  1. The implementation of laws matters as much as their framing (as any parent will tell you!)
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  2. “Deshmukh, a former RBI governor who had argued against bank nationalization immediately after independence, was also contesting the election, this time supported by the Swatantra Party and Jan Sangh. Giri won with Gandhi’s support, and his legacy is often regarded as that of a rubber-stamp loyalist who damaged the independence of the President’s office.”
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    A little bit of trivia that I was completely unaware of, and makes me think of many counterfactuals – but the article is about how the nationalization of banks came to be.
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  3. Shruti explains (rather acerbically and entirely appropriately so) why the budget is a spectacle we’d all do well to ignore completely.
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  4. “First, we need to create more positions for judges, especially in the lower levels of the judiciary, as caseloads have exploded over the years. India has only 12-15 judges per million people compared to the US’s 110 per million. The immediate goal is to reach the Law Commission’s 50-judges-per-million recommendation. A good start is to double the number of judges across the board in the lower judiciary.”
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    On some much needed reforms to the Indian judiciary.
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  5. A paper by her on a favorite theme (and bugbear) of mine: the complete lack of true decentralization in India.