Basu’s bizarre bakwas

Posted in development, economics, macro, political economy by jrahman on May 6, 2018
Rubbish, Worthless, Nonsense, Silliness
(Urban Dictionary)

Upon being asked by a friend whether I had read Kaushik Basu’s recent piece on Bangladesh, my first reaction was — is that the rather lazy piece on why Bangladesh is doing well?

Let me note my gratitude to the friend for pushing me to read the piece. It is, to use the favourite adjective of Bangladesh’s Finance Minister, just bogus.  Out of respect for my personal interactions with the author, I will refrain from using that term.  But this bizarre article should still be debunked.


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Bhagwati’s embarrassing bakwas

Posted in economics by jrahman on April 5, 2011

Jagdish Bhagwati has written a bizarre piece on l’affaire Yunus (kindly posted by Dhakashohor in UV).  And Zafar Sobhan has done a pretty good rebuttal.  I agree with both pieces.  In this post, I present some charts and numbers to show just exactly how wrong Bhagwati is.

Bhagwati says:

Ela Bhatt’s SEWA adds to the huge benefits to the poor and underprivileged that a reformed macroeconomic policy framework has brought to India. By contrast, Yunus’s Grameen Bank puts at best a microeconomic finger in the leaky dyke of Bangladesh’s largely unreformed macroeconomic policies.

Let me stress the point — India has a reformed macroeconomic policy framework, and Bangladesh has unreformed macroeconomic policies, says Bhagwati.  Okay then, let’s look at some charts that will show that Bhagwati is pure bakwas