In Economics, the term “Free Rider” refers to a situation when an individual “consumes more than their fair share of a public resource” (from Wikipedia).

I’ve found repeated evidence of Free Riding in Thanjavur:

These pictures are taken by me in the back seat of two different auto rickshaw that took me to the office [...]

These are the main headlines in Thanjavur’s newspapers today – it says: “KING OF POP, MICHAEL JACKSON, PASSED AWAY”

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Already in India for more than two weeks I began to see some similarities with Venezuela of the 1980’s. The similarities are in terms of the labor market. I don’t know if I’m going crazy, or I’m home sick, but I will share those with you.

These are some of the kinds of Jobs that I’ve [...]

Economic theory suggests that in equilibrium, the price of a good is given by the intersection of the demand and supply curves. This means that the market chooses a quantity to be produced and a price for that good such that the consumers and producers’ surplus is zero. You may be thinking: “WHAT is this [...]

I think I may have just stumbled upon the holy grail of macro-economics. I think I have found qualitative evidence in support of the seemingly ridiculous intuition of the Real Business Cycle (RBC). RBC theories try to explain why there are booms or recessions which deviate the economy from their growing trend.

RBC created a revolution [...]

In the past two days I’ve been traveling around Chennai and some villages nearby, as part of a field trip organized by the Center for Micro Finance. Here are some pictures of the places I’ve visited so far:

A Street in Chennai

Poster in the Training Center of a Micro Finance Institution

Coconut Seller

Creativity

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This was the question I asked to two girls today in the field trips I made near Chennai to poor villages. The first one is the granddaughter of the owner of a bycile repair shop that was created with a microcredit loan. The cute girl told me that she wants to become a Doctor. Her [...]

The answer is Chennai.

I arrived yesterday morning, and since then, I have been eating lentils for breakfast, lunch and dinner. I have nothing against lentils, and they are good for lunch and dinner… but for breakfast I’m still getting used to it.

I went out yesterday to tour around the city with some friends that I [...]

These are the nicest words I’ve heard today.

I’m doing transit in London, about to board my plane to Chennai, India. I was given the good news in Heathrow Airport (after my flight from Tel Aviv). But, why? Well, it might be because I won a lottery because the plane is empty, or as a good [...]

On my way to India I made a stop in Israel. Randomly walking in Jerusalem I saw this very interesting restroom – in the middle of a public park. Please, see it by yourself:

The panel of control located to the right hand side of the door has a red light indicating [...]