I have said  many times before that Google is a one dimensional company that makes money from Ads, almost exclusively through their search engine service. Here is a break down of their revenue from ads.

Chief Minister (somewhat similar to a governor of state in the U.S) of my home state of Kerala in India has installed live webcam in his office, viewable to the public 24/7. He is doing it in the name of transparency, but kickbacks, bribes etc happen outside of these offices. Oommen Chandy, from what I can gather, is a decent man for a politician, but corruption is all pervasive in India from the very bottom all the way to the top.

Staying on the topic of transparency of public officials in India, here is another incredible piece of news about the email accounts the officials use for official business – Yahoo Mail, Hotmail, Gmail etc.

Another strike against Keynesianism – this time from near impossibility of executing “the plan”. Here is Larry Summers as quoted by Ezra Klein on his WP blog:

And even if Congress was willing to green-light more money, spending it turned out to be harder than the Keynesians had hoped. “Anybody who is honest and knowledgeable will say it is harder to move money quickly and well in reality than it is in the textbook model. I don’t think the idea that lots more money could have been moved is credible unless there had been a whole set of prior planning,” Summers says.

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Having spent all my childhood and education upto my undergrad in India, I have personally seen the tragedy of the mixed economy experiment in that country. In those days, it was taken as a given that the only way for India to progress was for it to take the diktat from an “elite” group of planners who “knew” what was better for every one else. It is always refreshing to know that there were dissenters who decried the social injustice and economic misery wreaked on the nation by the “do gooders”.

link here:

Many prominent representatives of that orthodoxy regularly visited India in the 1950s and 60s. The visitors included Gunnar Myrdal, Joan Robinson, Nicholas Kaldor, Thomas Balogh, Ian Little, Oscar Lange, Paul Streeten, and others. Most of these representatives of the prevailing orthodoxy endorsed the Second Five Year Plan in public pronouncements in India and in prestigious and influential publications in the West, such as the Economic Journal or the Review of the British National Institute for Economic Research

I had read elsewhere that daddy Galbraith was advising the Indian planners while they wreaked havoc on the populace, but this list above  reads like a who’s who of Keynesian economics.