An economist in the making, interested in ideas of development economics and political economy. Subscribe to my insights at whatifeconomics.substack.com

In the never-ending debate of automation of jobs, due to the rise of robots, leading to the redundancy of humanity, this article leaps forward to envision what the future of work beholds.

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For the longest time, humans have been irreplaceable in many industries of work and life. The development of human capabilities and instincts has led to innovations ranging from nomadic tools and implements to Artificial Intelligence and robots. In primitive eras, such discoveries enabled survival, but in modern times, it furthers productivity, efficiency, and economic growth.

Although technology has enhanced convenience and safety, most would argue that it has raised apprehensions about the nature of work in the future, essentially due to the detrimental impacts of automation and a robot revolution on jobs and wages. …


Economics, and other related social science, have undergone a systematic evolution of randomized experimentation and econometric practices in managing and analyzing data over time.

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For a long time, the physical sciences have proved complex theories using neat mathematical tools. But in the case of social science, such concrete measures are simply unavailable, owing to the irrational nature and individual preferences — such as the extent of risk tolerance, time-preferences, and cooperation — of human beings.

The study of behavioral economics and its relatability to the field of development economics has made the neoclassical assumptions redundant in impact evaluation. The development economists, using econometric or regression analysis in the 1950s, now employ experimental and quasi-experimental techniques to test whether these neoclassical assumptions hold.

The forerunners of Randomized Controlled Trials in economic sciences, a method well-known in the field of pharmacology and medical sciences, were the Nobel Prize-winning economists Abhijit Banerjee, Esther Duflo, and Michael Kremer. They led what is now a two-decade-long revolution in measuring impact and influencing local and national policies across the globe. …


A 2017-study claims existence of dark triad traits among people who choose economics and business as academic majors.

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Being an economics major, writing about such a topic is to expose the dark side of our very own psychology.

Bit of a disclaimer — I am not a psychopath, or at least I believe so. But when it comes to defending oneself, who wouldn’t?

It was in one of the econ lectures I attended during college when the professor made a case for economists exhibiting psychopathic tendencies or just being psychopaths. …


The article delves into the significance, usage, and criticisms of the input-output model in economics, state planning, and the environment.

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What if a matrix could depict something as complex as a national economy. It was in the 1930s that such an idea came into limelight when Wassily Leontief, a Russian-American economist, published ‘Quantitative Input-Output Relations in the Economic System of the United States’ in the Review of Economics and Statistics (1936), stirring quite a conversation. However, it was subdued by John Maynard Keynes’ General Theory of Employment, Interest, and Money (1936) that attracted worldwide attention in the light of the Great Depression and rising unemployment.

Leontief, later, won the Prize in Economic Sciences in 1973 for outlining the input-output model and developing its applications in solving economic problems. …


How will the post-pandemic world look, and is it time for another Asian miracle, centered in China?

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If I may propose this idea, then I must, as it is not unheard of earlier — China being the global power, Yuan being the global currency, and Mandarin the language of the new world? What if the eastern influence defined a new wave of globalization — Easternization?

Extensively explained in his book Easternization: Asia’s Rise and America’s Decline From Obama to Trump and Beyond, Gideon Rachman divides the discussion into two parts — Easternization in Asia and Easternization Beyond Asia.

As absurd as it sounds, one must not think it to be impossible. Two years ago, even Brexit seemed remotely plausible. Who had known how this year would turn out to be and who knows how the pandemic will further unfold? And, assuming — as economists do best — that this is feasible, I intend to, in this piece, describe this phenomenon and draw insights from Rachman’s book. …


It has been around twenty-five years since the Rwandan genocide, but, with a vision to steer the economy, the leadership in Rwanda has succeeded in transforming it into a lower-middle-income country and aims to reach high-income status by 2050.

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A country once in shambles, amidst the genocide, is now home to high-rise buildings and skyscrapers. A brief history — Rwanda saw a hundred-day genocide, killing more than 800,000 Tutsis in 1994. Post the dreaded massacre United Nations sent a team that closely monitored the peace agreement. Maintaining political stability was of utmost importance during that period.

With time, in the year 2000, the government of Rwanda established a long-term development strategy, called Vision 2020, to transform the economy into a middle-class service-based economy. For an economy with as weak the fundamentals as that of Rwanda in the late 1990s, this seems unachievable. …


The answer to why development seems unachievable, or rather slowly achievable, lies in the aspects of the nature of the political economy.

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What are the fundamental policy interventions to achieve development?

To start, employment generation and markets for labor, social security, credit, and insurance ensure social mobility if supported by quality education, skill development, accessible healthcare, and affordable housing.

If you have followed my work, one such argument that appears in one manner or the other, time and again, is the series of solutions to all development problems.

It (Sustainable Development) implies political prioritization of the growth of gross domestic product to be replaced by an economic vision that seeks to transform global and local economies. …


A low development or a developing country aims to reduce its poverty levels by targetting policies to benefit the needy. To adequately do so, it is crucial to recognize the causes and effects of the inherent poverty trap, which this article intends to do.

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A poverty trap is a vicious system of being entrapped in poverty due to a lack of capital — money, physical or human. Consider a poor household — a farm laborer with three children — a boy and two girls. The timid farmer works day and night for a landlord, earning a meager wage. His wife looks after the household, along with her two daughters. Their elder son, who studied up to middle school, works at a construction site. His earnings help the family to make ends meet.

This story represents a rural household in a developing country and illustrates the issues that lead to the poverty trap. The landless farm laborer has no asset to lend in exchange for credit, preventing him from funding the education of his children. He is uneducated or lowly educated himself to understand the importance of education in social mobility. Even if he does know how critical enrolling in school is, he doesn’t have the means. …


Is entrepreneurship better or bad for society and the market? The article talks about the Theory of Creative Destruction, proposed by Schumpeter, and how innovation creates a disequilibrium in the market but, at the same time, is necessary to curtail the fall of capitalism.

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It was not long ago that social media was not a part of our life; still, it feels like so! Apps like Facebook, Instagram, and Whatsapp dominate the market as well as our screen time. It was not long ago that we brought DVDs to watch a new film or anxiously awaited a new episode of our favorite television series every Sunday (maybe Wednesday for some, or any other day). …


The article presents a view on the migration of population in search of better opportunities from East to West, or from the Global South to the Global North. It further analyses the costs and benefits of friendly immigration policies across the globe.

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Humans have migrated since the dawn of time. Whether in the hunt for food and fire for survival or search of high-paying jobs for a better lifestyle, man has migrated. Further, it has bestowed upon us the ability to move freely across borders in this era of globalisation.

The duality of the world economy — the formation of the Global North, or the developed world and the Global South, or the developing world — helps us to understand the pattern in migration of labour. It is not only from the standpoint of better work opportunities and higher standards of living but also from cultural, social and political perspectives that people choose to migrate. According to The United Nations Department of Economic and Social Affairs, 271.6 million people have migrated internationally by mid-year 2019. …

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