Friday, October 29, 2010

Economics through Google Maps

IMF World Economic Outlook release also has
Outlook in Maps. It is better than table or chart if you want to have quick view. I wish IMF also provides option for customisation in case one likes to compare a set of continents or economies.

Google is everywhere. IMF's Map is also powered by Google Maps. I read this interview of Google CEO sometime back in which he said,
"... As you go from the search box [to the next phase of Google], you really want to go from syntax to semantics, from what you typed to what you meant. And that's basically the role of [Artificial Intelligence]. I think we will be the world leader in that for a long time."

About the power of Google, one sentence of his interview explains everything:
". . . that every young person one day will be entitled automatically to change his or her name on reaching adulthood in order to disown youthful hijinks stored on their friends' social media sites."

Friday, October 22, 2010

Economics is simply complex

Fun of predicting Nobel winner

Don't understand why people are in the busines of predicting winner (s) of Nobel Prize (s). The website of Nobel Prize says nominations received for any category is disclosed with a lag of 55 years. Thus, many a time none of the bets may figure on final list. Chicago's favourite Nobel Prize Pool could not guess right for the third year in a row. However, two of the winners were favourites at Harvard's poll - Peter Diamond & Dale Mortensen.

This year again Jagdish Bhagwati and Avinash Dixit were favourites for Economics prize on betting circle of Chicago.

It is interesting to note that Bhagwati's mentor Solow and his student, Krugman, both are Nobel Prize winners.
Chicago Pool for 2009 also showed Barack Obama as possible contender for Economics Prize. After 55 years, it would be even more interesting to see if the President was really a nominee.