Note to recruiters

Note to recruiters: We are quite aware that recruiters, interviewers, VCs and other professionals generally perform a Google Search before they interview someone, take a pitch from someone, et cetera. Please keep in mind that not everything put on the Internet must align directly to one's future career and/or one's future product portfolio. Sometimes, people do put things on the Internet just because. Just because. It may be out of their personal interests, which may have nothing to do with their professional interests. Or it may be for some other reason. Recruiters seem to have this wrong-headed notion that if somebody is not signalling their interests in a certain area online, then that means that they are not interested in that area at all. It is worth pointing out that economics pretty much underlies the areas of marketing, strategy, operations and finance. And this blog is about economics. With metta, let us. by all means, be reflective about this whole business of business. Also, see our post on "The Multi-faceted Identity Problem".

Wednesday, June 4, 2014

ECONOMICS: Business, Competition and Corruption - Thoughts on Becker's post

Gary Becker has died. In his honor, I plan to make a follow up post to the following comment I posted to the Becker-Posner blog.


In my view, corruption is primarily a governance issue and there is only so much economists are able to add to the picture.

As one example, Sendhil Mullainathan has attempted to establish empirically whether corruption is something that has negative social externalities at all - Sam Huntington's point that bribery is "speed money" (which Mullainathan has suggested as a hypothesis) and so actually makes things better since things get done versus the counter-hypothesis that bribery simply makes things worse since it adds friction.

So many countries have been seen to regress badly in the presence of corruption, but if you look at countries known to have high degrees of corruption (ranging from Mexico to India), there is only so much economists can bring to bear - in terms of analysis - on this issue. It is primarily a governance problem.

And this brings me to a point I have made several times in the past. Underdeveloped countries are not just under-developed. They are under-managed.