Niranjan Rajadhyaksha

William Nordhaus has passed away.

Here the abstract of one of his great papers, on Schumpeterian profits. Most of the social returns on technological advances go to consumers rather than producers.

nber.org/system/files/w…

"Capital produces products. But it does not produce markets"

In this insightful article, @karandi65 and @adityasinha004 write about how the government can support Indian deep tech by being a first customer, though that needs a relook at procurement rules

livemint.com/opinion/online…

My book will be available in stores from this week. Meanwhile, happy to see that it is the Number 1 bestseller in the economic policy section of Amazon.

An observation after reading a lot of commentary on the Nobel Prize in economics to Robert Hall and Michael Woodford. Expectations did not enter macro only after late 1960s. Keynes has an entire chapter in General Theory on 'The State of Long Term Expectations', written in 1936.

A very informative chart based on the excellent new report by Prosperiti, on why India’s factories struggle to keep up with their peers in other parts of the world.

Authors: Bhuvana Anand, Pranjal Chandra, Naveena Pradeep

livemint.com/industry/india…