Droughts and Entrepreneurship

June 27, 2009

A very interesting post by J. David Foster on Aguanomics on how Droughts in India affect entrepreneurship. The analysis is mostly anecdotal.

One caveat is that it does gloss over the caste system which also inhibits entrepreurship in India as well as some patterns of land ownership under the Zamindari system in North India vis a vis absentee landlords in Bengal under the British which inhibited capital formation and investment.

The other outlier which is not explained by this analysis is Punjab which has entrepreneurship as well as big agriculture.

Overall an interesting idea but there are missing pieces and the casuality between droughts and entrepreurship is not as clear-cut as it appears.

HT (Infectious Greed)


Dept of Non-News

February 21, 2009

Why exactly is the WSJ publishing stories of conspiracy theories. It details an email being circulating in Pakistan about how the Mumbai Attacks were actually planned by Indians and Jews.

This falls in the same league as people questioning the 9/11 attacks as being perpetrated by the CIA, or how the Moon Landings were faked by NASA, or how the Taj Mahal is an ancient structure built by some Hindu king.

There will always be crazies and consipary  theorists, but do they need a respected newspaper giving them an audience.