Dawn of the third globalisation; The art and science of economic policy on Coursera; Make vs. buy in the union government; The possibilities in industrial policy
Dawn of the third globalisation?
The first globalisation ended in 1914 and the second globalisation reached critical mass in roughly 1980. In the second globalisation, the dominant view was that geopolitical considerations should be kept aside, and freedom in cross-border interactions should be steadily increased.
It is too early to tell, but we may date 2022 as the year where the second globalisation ended. In the `third globalisation’, decision makers in advanced economies (whether governments or firms) bring geopolitical considerations into their thinking about the countries that they engage with. My column in the Business Standard today, Dawn of the third globalisation?, looks at these developments, places them in historical context, and thinks about the implications for Indian firms.
The art and science of economic policy on Coursera
On 19 July, the `Digital blended learning’ initiative at IIHS released a course, The Art and Science of Economic Policy. This builds on the book In service of the republic: The art and science of economic policy. We’ve had over 1000 enrollments for the course. We did a video conversation in this community, with Nasser Munjee, Aromar Revi, Geetha Krishnan, Vijay Kelkar and me.
Make vs. buy in the union government
In every organisation, there is the choice between make and buy. Given the management constraints of Indian state organisations, the `buy’ pathway appears attractive as it would harness the productivity of private firms.
So how big is the share of `buy’, and is it growing over time? The make vs. buy decision of the union government, by Aneesha Chitgupi and Susan Thomas, in The Leap Blog on 18 September, examines a (short) time series and sets down some basic facts.