Athen's Street Art

Alexandros Vasmoulakis is one of many street artists whose artwork reflects the urban fabric of contemporary Greece. His shattered, floating figures cover many of the abandoned neoclassical buildings of Athens as well as the crumbling walls of the city’s Exarchia neighborhood. Vasmoulakis notes that the sidewalks of Berlin, where he currently lives, are “well arranged, straight, and wide with beautiful decorations, street lamps, railings. . . . In Athens, sidewalks are like the rough sea—all cracked, dirty, . . . with those awful manholes that make terrible a noise when you step on them. The actual hell of pedestrians! I really find this ugliness beautiful.” For more on life in Exarchia, read Peter Constantine’s interview with poet Jazra Khaleed in March 2010 issue.

Macroeconomic Rap

In Fear the Boom and Bust, John Maynard Keynes and F. A. Hayek, two of the great economists of the 20th century, come back to life to attend an economics conference on the economic crisis. Before the conference begins, and at the insistence of Lord Keynes, they go out for a night on the town and sing about why there’s a “boom and bust” cycle in modern economies and good reason to fear it.


http://econstories.tv/2010/06/22/fear-the-boom-and-bust/

See the video from the link above & SING ALONG. Enjoy it !! :D
We’ve been going back and forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No… it’s the animal spirits


[Keynes Sings:]

John Maynard Keynes, wrote the book on modern macro
The man you need when the economy’s off track, [whoa]
Depression, recession now your question’s in session
Have a seat and I’ll school you in one simple lesson

BOOM, 1929 the big crash
We didn’t bounce back—economy’s in the trash
Persistent unemployment, the result of sticky wages
Waiting for recovery? Seriously? That’s outrageous!

I had a real plan any fool can understand
The advice, real simple—boost aggregate demand!
C, I, G, all together gets to Y
Make sure the total’s growing, watch the economy fly
We’ve been going back and forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No… it’s the animal spirits


You see it’s all about spending, hear the register cha-ching
Circular flow, the dough is everything
So if that flow is getting low, doesn’t matter the reason
We need more government spending, now it’s stimulus season

So forget about saving, get it straight out of your head
Like I said, in the long run—we’re all dead
Savings is destruction, that’s the paradox of thrift
Don’t keep money in your pocket, or that growth will never lift…
because…

Business is driven by the animal spirits
The bull and the bear, and there’s reason to fear its
Effects on capital investment, income and growth
That’s why the state should fill the gap with stimulus both…

The monetary and the fiscal, they’re equally correct
Public works, digging ditches, war has the same effect
Even a broken window helps the glass man have some wealth
The multiplier driving higher the economy’s health

And if the Central Bank’s interest rate policy tanks
A liquidity trap, that new money’s stuck in the banks!
Deficits could be the cure, you been looking for
Let the spending soar, now that you know the score

My General Theory’s made quite an impression
[a revolution] I transformed the econ profession
You know me, modesty, still I’m taking a bow
Say it loud, say it proud, we’re all Keynesians now
We’ve been goin’ back n forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Keynes] I made my case, Freddie H
Listen up , Can you hear it?

Hayek sings:

I’ll begin in broad strokes, just like my friend Keynes
His theory conceals the mechanics of change,
That simple equation, too much aggregation
Ignores human action and motivation

And yet it continues as a justification
For bailouts and payoffs by pols with machinations
You provide them with cover to sell us a free lunch
Then all that we’re left with is debt, and a bunch

If you’re living high on that cheap credit hog
Don’t look for cure from the hair of the dog
Real savings come first if you want to invest
The market coordinates time with interest

Your focus on spending is pushing on thread
In the long run, my friend, it’s your theory that’s dead
So sorry there, buddy, if that sounds like invective
Prepare to get schooled in my Austrian perspective
We’ve been going back and forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No… it’s the animal spirits


The place you should study isn’t the bust
It’s the boom that should make you feel leery, that’s the thrust
Of my theory, the capital structure is key.
Malinvestments wreck the economy

The boom gets started with an expansion of credit
The Fed sets rates low, are you starting to get it?
That new money is confused for real loanable funds
But it’s just inflation that’s driving the ones

Who invest in new projects like housing construction
The boom plants the seeds for its future destruction
The savings aren’t real, consumption’s up too
And the grasping for resources reveals there’s too few

So the boom turns to bust as the interest rates rise
With the costs of production, price signals were lies
The boom was a binge that’s a matter of fact
Now its devalued capital that makes up the slack.

Whether it’s the late twenties or two thousand and five
Booming bad investments, seems like they’d thrive
You must save to invest, don’t use the printing press
Or a bust will surely follow, an economy depressed

Your so-called “stimulus” will make things even worse
It’s just more of the same, more incentives perversed
And that credit crunch ain’t a liquidity trap
Just a broke banking system, I’m done, that’s a wrap.
We’ve been goin’ back n forth for a century
[Keynes] I want to steer markets,
[Hayek] I want them set free
There’s a boom and bust cycle and good reason to fear it
[Hayek] Blame low interest rates.
[Keynes] No it’s the animal spirits

“The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is commonly understood. Indeed the world is ruled by little else. Practical men, who believe themselves to be quite exempt from any intellectual influence, are usually the slaves of some defunct economist.”

John Maynard Keynes
The General Theory of Employment, Interest and Money
“The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”


F A Hayek
The Fatal Conceit

PWC Shit !!

127 hours compressed, in a fraction of a day,

The psychosis of a girlfriend at play,

Simpson didn't turn out to be all that gay,

Top geared cars on many a winding way,

...From the orb of entertainment, emerged yet another ray,

In the form of blue-blonde streaks, to cover the scary gray !! :P



Written by : Hema Thakur



The covered scary gray travels further, towards the brain tray,

Bringing about the damage and loss of economic way,

One fine day, ' shit, I could have done it' you say !!



Written by : ME

.

Original Quotations

This note consists of all those quotes that I had written by my self and posted on FB. These quotes are mainly on academics, events, occassions, other happenings and life in general. I will consistently update this and keep you all entertained.
Read them and take a refreshment . Cheers ! :D
1) I'm down with Sony fever - VAIO + Ericsson.
2) High, Higher, not the highest as rolled down to 360.
3) International students at LSE are suffering from a malady called ' diaspora ' ...especially the Indian capitalittes.
4) The corpus clock and the mathematical bridge ....What a day !
5) My name in Italian means ' sofa ' !
6) Time is long. Time is short. Time is uncertain. Time is rare. But, time brings emotions. Make every moment a memory.
Two weeks at LSE & I am back home !
7) Whenever may be the friendships day; today, tomorrow, everyday; I simply choose to wish you all now - Happy friendships day !
8) I dont read philosophy. I create my own.
9) Thank you all for the birthday wishes . I had a long great weekend with some Italians, Germans, Spanish, Portuguese, a Venezuelan and a Czech.
10) Its fun to get wet in the British Weather.
11) Last exam at LSE on friday. My motto : study hard, party harder.
12) Everyone was a stranger who waited to be a friend. Now when they became friends, they are all gone. LSE library is so empty ! I wouldnt promise to meet you. But all I can say - ' Have a great life and keep it high !'
13) Saloni Ketan Shah has been exported by UK to India on the day when UK left India. Happy Independence Day ! :D I miss London already :(
14) Once again , on a fresh page. Lets see , how much I get to scribble and score.
15) Sometimes the old shock the young by keeping themselves up to date !
16) I have expectations. You have expectations. We all have expectations. But we all fear and suspect our power to influence present which ends up in unexpected and unforeseen possibilities.
17) When I say 'I am bored', it is actually not meant that way. Its just that the work is not able to spare me from boredom.
18) Nature created organisms, organisms created objects. The organisms strive to keep a balance between them. Homo Sapiens are the most superior which are further classified. Academicians educate, doctors save, lawyers solve disputes, scientists discover. But, social scientists study thier behavior and change thier attitude to maintain the balance.
19) Activate yourself. You will lack boredom. Be preoccupied. Finally, attain accomplishment.
20)Saloni Ketan Shah is discovering her inner economist .
21) Economics is my living. But, visual arts is my life.
22) Not all economic theories can be applied in reality. But all realities contain economics.
23) I am a 'sane' insane !
24) Oktober Showers !
25) Diwali-the festival of lights , which in the spiritual sense means ' awareness of the inner light-reason and hope'.According to the Hindu calendar, the world will step into 2069 on this Sunday.Wishing everybody a happy diwali.May the glow of lamps fill your life with newer joys...and may the year ahead bring good fortune, happiness, good health and best memories to cherish forever.Have a joyous and a festive weekend. ( 5th November 2010)
26) Creativity requires open heart, open mind, open will without judgement, criticism and fear.
27) Merry Christmas ! Its time to have some wine. ( 25th December 2010)
28) I hate typing, so I dont want to be online. Sorry !
29) For every new day, we make decisions. For every new month, we make plans. For every new year, we make resolutions. WHY ?
30) The Tourist is okay , but Venice is awsome !!
31) Nice memories, Amazing food, Cold weather - Time for Pune.
32) A derivative a day keeps an integral away.
33) Not just Beats by the Beaches...cuz its GOA baby !!
34) Knowledge & Wisdom builds your personal human capital. Innovate, obstruct depreciation, increase cognition & gain a living and a life .
35) Financial Terms applied in Love Life : Why do we need a Hedge Fund ? There are only oppurtunity costs and no economic profits.
Regards,
Saloni Ketan Shah
Two - Thirds Economist ( UoL - LSE )

How We Shop?

We may see them as American inventions, but we have fallen in love with them. Every weekend, millions of us indulge in some 'retail therapy'. The shopping mall is one of the most potent symbols of modern life; we go there not just to buy, but to eat, to hang out, may be to got to cinema or entertain the children. But behind the glistening facade of the shopping mall is world of cut-throat competition, aggressive planning and big money, where retailers and marketing experts are developing ever-more sophisticated ways to keep the tills ringing. 

The above precise was just a trailor. If you want to experience more of this entertaining and shrewd potrait of our fascination with shopping then do read - ' The call of the mall' by 'Paco Underhill'.

Human Behaviour

Compare and Contrast the Literary Movements - Realism and Naturalism

in ‘A Doll’s House’ and ‘Miss Julie’

A literary movement is one of the categories, based on form, style or subject matter, into which prose works of all kinds can be divided. Realism is the literary movement used to characterize works concerned with representing the world or the everyday scenes of the contemporary life as it is rather than as it ought to be. On the other hand, naturalism is claimed to give an even more accurate depiction of life than realism where the human beings shape their characters depending on the two major forces- hereditary and environment.

Henrik Ibsen in his play, A Doll’s House renders the exigent and demanding values of the conservative middle- class Victorian society with its façade of false morality, thereby showing most of the elements of a realistic drama.

‘Helmer: It’s because you plead for him that I can’t help him. Everyone at the Bank knows I’ve sacked him. If it comes out that the new manager changes his mind when his wife demands it –

Nora: What’s wrong with that?

Helmer: you mean if my little terrier got her way? I’d be a laughing stock. Before the whole staff. They’d think anyone could work on me. I couldn’t have that. In any case, I can’t take Krogstad back, under any circumstances.’¹

In the above conversation between Nora and Helmer the playwright has put Nora’s dialogue as an unrhetorical prose question where Helmer’s answer to it shows that he is more apprehensive about his prestige and reputation in the society than listen to his wife and save his family from Krogstad’s doom.

Ibsen has pictured the discussions between the husband and wife in such a manner that the readers find the dialogues to be colloquial and a part of their everyday life, hence showing realistic features. Also, when it was brought to Helmer’s knowledge about

Nora’s deceitful actions through Krogstad’s letter and Nora tries to abandon the family, Helmer stops her.

He tells her ‘as for you and me, we must go on as if nothing had changed between us.

In public, you’ll stay on here obviously. But, I won’t have you near the children. I can never trust you again.’²

This shows that Torvald is very conscious of people’s perception about him and his stand in the community. He demonstrates his deep need for society’s respect. Although he says that Nora has ruined all his happiness in his life and its all 'rags, crumbs, pretence, ____’³ – and that he doesn’t want her to remain in the house because his chief concern is saving” the appearance of his house.

Thus, Ibsen has utilized the elements of realism impressively to show that Torvald adapts to what society requires of him. According to him, pretending to be reputed in the eyes of the community is the only way to save his family from the destabilizing threats of the society.

In contrast, Strindberg uses scientific objectivity to handle his characters in the play Miss Julie where he has suggested many factors in explanation of, Miss Julie’s sad fate.

‘Julie- you see my mother was not of noble birth, but came of quite plain people. She was brought up in the ideas of her time about equality, and women’s independence and that kind of thing. And she had decided aversion to her marriage. There fore when my father proposed to her, she said she wouldn’t marry him- and then did it just the same.’⁴

The protagonist of the play, Miss Julie tells these words to jean to show that she had inherited her behavior from her mother and hence spent most of the time with the servants. This can also be seen when jean comments on the countess being there at home in the kitchen, among the cows and that she would wear cuffs till they were dirty. These characteristics of the countess have influenced Miss Julie genetically such that when she is born against her wishes she brings her up in a perfectly natural state. Miss Julie was to learn everything that a boy is taught – to prove that a woman is just as good as a man.

Also the countess was tied up in so many restrictions that she had no freedom or free will. This compelled her to take revenge against her husband as he had made himself master in his own house.

Miss Julie was brought up in such an environment because of the true circumstances, she learned to suspect and hate men and promised herself that she would never become a man’s slave. Therefore in the stable yard she made his fiancé leap over her horse whip in order to dominate over him.

Consequently, Strindberg has molded miss Julies character by the two factors of heredity and environment which further divided into her mothers fundamental inborn instincts, fathers mistake of not being a part in bringing up her daughter, her hatred for the male gender, her own nature with a weak and degenerate brain and her obsession with animals, dancing and spending time with the servants of the house and thus in all showing a naturalistic interpretation of a character.

Another feature of naturalism is that the characters in the literary work like lower animals have no soul and therefore religion and morality are irrelevant to them. The signs of these have been represented in both the plays.

‘Krogstad- may be not. But contracts the kind of contract you made with me, I know all about those. You understand? Good. Do as you please. But remember one thing: if I lose everything a second time, you keep me company.’⁵

Krogstad is the antagonist in A Doll’s house as he threatens Nora, to let out the secrets between them and about the contract to Helmer, if she doesn’t influence her husband to give Krogstad back his job. He uses immoral decisions to take advantage of Nora’s crime- forgery of signatures.

In spite of this, he has reasonable and valid motives for doing this as he wants to keep his job safe to earn a living for his family.

Thus Henrik Ibsen used one of the features of naturalism in his play to develop Krogstad’s character who feels that moral values and virtues are irrelevant in doing something fruitful for his family, unlike Torvald who desires respect for selfish reasons.

In Miss Julie Jean is shown as such a character to whom religion is not important.

Christine- are you coming with me to church? I think you need a good sermon on top of such a deed.

‘Jean- no, I am not going to church today. You can go by yourself and confess your own deeds.’⁶

This reveals about jean that he is an atheist and doesn’t consider religion to be pertinent as he is more interested I raising himself and making a lot of money.

The common feature of both naturalists and realists is that both prefer representing the common place and the everyday in minute detail. But they might render their materials in different ways.

In a realistic novel, the subject matter and techniques are illustrated in a manner that makes them seem to the readers the very stuff of ordinary experience. This element can be seen in A Doll’s house where Ibsen has casted the chemistry between nor and Helmer in accordance with literary conventions such that the readers have learnt to interpret the text in a way that would seem to be a reflection of the everyday husband- wife relation.

Along with it the dramatist has added the children a close good friend- Dr. rank who is aware of their family matters and later creating a scenario of problems faced by the family due to society pressures and then trying to overcome them by means of pomp and show.

This picture is the reality show of every bourgeois family which one sees it in its everyday life or experiences the same where its defining characters are mainly the social problems such as marriage, religion, property rights and the relations between the sexes.

In disparity with it, August Strindberg has handled his characters and subject matter employing scientific objectivity. He has given a detailed description of the mundane affairs of day to day life with a profound ordinariness as compared to the work by Ibsen.

This can be evidently noticed from the lines below where the tragedian has used his language in a minute and detailed way to describe the working and the appearance of the servants in a counts house:

‘Christine is standing by the stove, frying something in a pan. She has on a dress of light colored cotton, which she has covered up with a big kitchen apron. Jean dressed in livery and carrying a pair of big spurred riding boots, which he places on the floor.’⁷

Through this, we know that Henrik Ibsen has written his prose work in a realistic way where human behavior is determined largely by the society with a few elements of

naturalism as well, where as august Strindberg has solely been a naturalist by using the more concentrated and stream- lined form of realism, where the readers recognize the characters depending on the influence of heredity and environment.