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IIM Ahmedabad: Day to Day Economics by Satish Deodhar



Economics seems like a subject to be studied and discussed only by scholars and is taught in schools just to torture children. As a kid, I hated economics ( though my father who has PhD in Economics has tried everything to reverse this fact) and college studies of macro/micro economics boosted my hatred further. According to me, the major connection a common man had with economics is when finmin announces the budget and for that entire month all you could read in newspaper front page is budget and its implications. In the quest of ignoring economics, we tend to keep those orange colored?? !! newspapers as far as possible and life is so relaxed without caring for increase in base rates of banks or bear/bull run of stock market. All of us are affected by its ups and downs of global and local economy via global recession, rise in interest rates, or hike in food prices. But we don’t understand the principles at work and how and why they really affect us. Here is a book named “IIM Ahmedabad Business Books: Day to Day Economics” by Satish Y. Deodhar who has done a herculean task of translating hodgepodge world of economics in simple cause and effect theory for all those difficult questions about inflation, taxation, recession etc.

So if you want to make sense of the information overload during the next budget season and would like to have an intelligent conversation on economics then grab a copy of this book. 

Quotes from the book:
"The existence of pure public goods, natural monopolies, and externalities are clear cases of market failures." 
"The state collects tax for the greater welfare of its citizens in the same way as the sun evaporates water only to return it manifold in the form of rain."


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