ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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A System That Fosters Deceit

Phishing for Phools: The Economics of Manipulation and Deception by George A Akerlof and Robert J Shiller, New Jersey: Princeton University Press, pp 272 +XVI, $16.95.

The Regulatory Fiasco That Was Sahara

Sahara: The Untold Story by Tamal Bandyopadhyay (Jaico Publishing House), 2014; pp 374+xvii, Rs 450.

Are Our Regulators Imaginative?

The recent Saradha ponzi scam in West Bengal and the proliferation of such dodgy small-depositor fi nancial schemes in other parts of the country point to the inadequate role of fi nancial regulators. Despite ample examples of the misery they cause, the regulators have not yet responded to the challenges, leaving poor investors at the mercy of the scamsters.

Are Our Regulators Imaginative?

The recent deposit ponzi scam in West Bengal and the proliferation of such dodgy small-depositor financial schemes in other parts of the country point to the inadequate role of financial regulators. Despite ample examples of the misery they cause, the regulators have not yet responded to the challenges, leaving poor investors at the mercy of the scamsters.

Credit, Intellectuals and the English Financial Revolution

Casualties of Credit: The English Financial Revolution, 1620-1720 by Carl Wennerlind (Cambridge, Massachusetts: Harvard University Press), 2011; pp 348, Rs 2,764.

The Great Illusion

Finance and the Good Society by Robert J Shiller; Princeton University Press, 2012; pp 288 + xiii, $ 24.95.

Insights into India's Business History

The Oxford India Anthology of Business History edited by Medha M Kudaisya (Delhi: Oxford University Press), 2011; pp 492 + xxviii, Rs 1,295.

Hypocrisy in Democratic Politics

Political Hypocrisy: The Mask of Power, from Hobbes to Orwell and Beyond by David Runciman Princeton University Press, 2008; pp xii + 272, $29.95.

Leadership at Federal Reserve

In chapter 6 of their 1963 classic, A Monetary History of the United States, 1867-1960, Milton Friedman and Anna Jacobson Schwartz argue that the tragic consequences of the Great Contraction of 1929-1933 could have been averted with a strong leadership at the helm of the Federal Reserve. The article turns this observation on its head and asks: If there is a strong leadership at the helm of the financial system, is there any assurance that there will be no crisis in the system, or if any crisis is brewing, will a strong leadership succeed in nipping it in the bud? It tests this in the light of what has been happening in Wall Street since the mid-1990s.

Role of Merchant Networks

Merchants, Traders and Entrepreneurs: Indian Business in the Colonial Era by Claude Markovits

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