Heterodox Austrian school of economics- why China and Russia want gold Standard?

Atul Sethi writes in the TOI “Now, countries like China and Russia want gold to be more than a steady asset. Russia recently advocated partial restoration of the gold standard — the old system of anchoring a country's currency to a specific amount of gold — to make for greater stability in the world monetary system. ”

However, the reasons expressed by economist like Arvind Panagariy is not at all clear.

The holy trinity c-o-w-s……..

Well, this is as usual election time, but in different time. Many things have changed except the Darkness India which lives outside the domain of every policy maker, leader, official’s mindset.   

Nevertheless, Chacha Manmohan Singh has tried his best to do in the last five years like an open mind child trying to learn and do in primary school (class one to five). I am sure he will get pass mark for last five years but I am not sure whether this will help him to enter his sixth class. 

One outside Darkness teacher says all the “good men” become ‘bad men’ at the end of the five years term except Chacha Manmohan Singh. People in Darkness still do not know what these good men turned bad men did for them. It’s not the mistake of these Darkness people but it might be a big mistake of these good men turned bad men. 

No matter how bad men all these persons but they are all good friend in their past and future life.

Economists hunt their own wood items

Arvind Panagariya, writes in ET “Total revenues of the industry have grown from Rs 60 billion in 2004 to Rs 96 billion in 2007. This represents an annual growth of 17% in nominal terms…… Despite this transformation, one feature of Bollywood films has remained omnipresent: the item number. From Cuckoo and Helen to Bindu and Padma Khanna to Mallika Sherawat and Rakhi Sawant, the item girl has remained an indispensable ingredient in Indian films. Indeed, it has grown in respect so that even superstar actresses such as Madhuri Dixit and Aishwarya Rai Bachchan now contribute their own item numbers! ”

An panel on India: The Emerging Giant

Here is a panel discussion on new book on Indian economy by Arvind Paragariya.

Arvind Panagariya, Jagdish Bhagwati, and Tunku Varadarajan, moderated by ProfessorSreenath Sreenivasan