Nitin Srivastava

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The Fed stalls the creation of a bank with a novel business model

TEN years on from the financial crisis, the structure of American banking has not changed. At its core are government-guaranteed, and therefore …

Central Banks

Is grade inflation just another way for privileged kids to get ahead?

Rich kids enjoy a lot of advantages over poorer ones—and new research shows that grade inflation may provide the children of privileged parents with yet another edge.<p>Research by American University education economist Seth Gershenson, published by the Thomas B. Fordham Institute, found that grade …

The Cognitive Biases Tricking Your Brain

Science suggests we’re hardwired to delude ourselves. Can we do anything about it?<p>I am staring at a photograph of myself that shows me 20 years older than I am now. I have not stepped into the twilight zone. Rather, I am trying to rid myself of some measure of my present bias, which is the tendency …

Critical Thinking

The Amazon Effect: Retail Bankruptcies Surge 110% In First Half Of The Year

As Amazon flirts with a $500 billion market cap, letting Jeff Bezos try on the title of world's richest man on for size if only for a few hours, for …

Companies are recruiting algorithms to hire a workforce which looks more like their customers

Restless Bandit scours millions of resumes to help major brands find qualified candidates. In 2016, the human resources-technology company said almost every one of its customers indicated they wanted new employees to better reflect the racial diversity of their customers.<p>“I’ve been in this space …

The demand side

“I DON’T care who writes a nation’s laws, or crafts its advanced treatises, if I can write its economics textbooks.” So said Paul Samuelson, an …

Academic Research

Blue Mosque (Sultan Ahmet Camii) - Istanbul, Turkey

Blue Mosque (Sultan Ahmet Camii) – Istanbul, Turkey<p>The <b>Sultan Ahmed Mosque</b> is an historical mosque in Istanbul. The mosque is popularly known as the</b> …

The resume is not dead—here are three ways to make yours better than any social media profile

Just a few short years ago, the focus of job search advice was creating a tip-top resume that would open the door to opportunity.<p>In today’s job market, people are getting hired in unconventional ways, such as showcasing work through social media (like this barber who got a job through Instagram) or …

Social Media

Rising yields ripple through global markets

Surging yields on U.S. Treasury bonds are being felt around the globe, as investors reshape their portfolios to take advantage of higher interest rates in the world's largest economy.<p>After two years of extraordinarily easy money, Treasury rates have shot up in recent weeks. Their rise has taken a …

Quants: the maths geniuses running Wall Street

Forget Gordon Gekko. Old-style City traders are being replaced by maths geniuses who use super-computers to beat the markets. But are 'quants’ a force for good or evil?<p>At seven minutes past one on the afternoon of Tuesday April 23 this year a tweet from the AP news agency in Washington was …

How Modern Economics Is Built On 'The World's Dumbest Idea'

I reported earlier this month that the Financial Times published a pair of important articles asking why the goal of a firm is to maximize short-term shareholder value is still being taught in business schools.<p>“While there is growing consensus that focusing on short-term shareholder value is not …

Photography & Travel Product Reviews

A dark magic: The rise of the robot traders

<b>"Humans cannot compete on speed, it's as simple as that."</b><p>Ten years ago, John Coates was a trader in Wall Street.<p>Today, he is a neuroscientist at Cambridge University, and spends his days monitoring traders' hormones to see what makes them tick.<p>"There are simple tests you can do. When you see a …

S&P amazingly says no one should believe its ratings are independent and objective

Today US rating agency Standard & Poor’s told a court of law that it figured every reasonable investor would know its promise to objectively rate securities was mere “puffery,” like a used-car salesman who tells you the last owner of your car was an old lady who only drove it on Sundays.<p>The US …