This is a new upload of episode 66, as a sound glitch accidently went throiugh in the previous upload. Apologies for this. We've lost all our earlier views and comments, so sorry if your comment on the earlier upload got lost. Please keep engaging! :)
The show is free ..no..as my dear friend Amit will argue, we listeners pay for the show with our time And something ephemeral, so less likely to be acknowledged, our gratitude... Thank you so much, Amit and Ajay, for every week that you both sit down and ruminate and share your thoughts. Much appreciated 👍
Great episode. Esp. about how to fix this desire of policy-makers to fix prices. But my main complaint with this episode is that you miss the mother of all price controls: the price of money itself and how it is controlled by central banks through interest rates. These bankers setting the price of money/capital is a criminal act of price control far worse than the other examples you mention. The price of capital/money affects everything (repeat, everything) in the world, and we allow these central banks to set it and consequently, set off boom and bust cycles across entire economies.
1:01:36 A Question! (Incase they're being compiled for a AMA) Hey EIE Team! Love the podcast. I agree with Amit's argument about Tariffs adding to the costs of consumers and it's subsequent ill-impact on the local economy. However, how do we balance this 'economic loss' against a potential strategic harm that may emanate out of over-dependence? Take for example, India's imports of Active Pharmaceutical Ingredients (APIs) from China. How should countries strike the balance between national security and economic efficiency? Are we comfortable drawing exceptions for strategic goods? If yes, then how do we decide what qualifies as strategic and what ought to be the threshold for subsidizing their production contrary to prevailing market conditions? (For example, semi-conductors) Cheers! PS: Please do a long episode each on Globalization and Journalism!
blog.theleapjournal.org/2021/05/indias-supply-chain-vulnerability-with.html is on how to use state power in a situation of 'strategic vulnerability ' while going with the grain of the price system.
Very interest episode and some very good examples...both national as well as international....one small feedback...just check how you pronounced "Gharaunda"....during aabodana thing!
is bitcoin perfectly priced? not even sure if "perfectly priced" is a term - i mean, is the price freely decided by buyers and sellers without any middle-agent?
