The subprime crisis continues to reverberate across the global economies even though it is eight years since it hit its peak. While the original culprit, the US, seems to have largely come out of it, rest of the world, particularly Europe and Japan, still struggle to give direction to their economies. The crisis would remain … Continue reading Revisiting Subprime Crisis – Part I..
The award of Nobel Prize to Oliver Hart and Bengt Holmstrom for economic science brings to light the concept of ‘Contract Theory’, hardly heard so far, let alone be understood..! As per the survey by the institution awarding the prize, 56% of the people did not know about ‘contract theory’. A brief attempt to understand … Continue reading Economics Nobel Prize – Understanding 'Contract Theory'..