THROUGH THE LOOKING GLASS: A DIFFERENT PERSPECTIVE
BAREFOOT HEDGE-FUND MANAGERS (POOR ECONOMICS)- AN ANALYTICAL SUMMARY
HEDGE FUND MANAGER: An individual who oversees and decides about the investments that are there in the hedge fund which are highly risky as they involve aggressive strategies and are less regulated than any other investments with the aim of getting high returns.
POOR PERSON: An individual with a dearth for the bare necessities of life with the aim of earning money to raise his standard of living and hoping to give a better life to his offspring though there is no guarantee of that sort.
In the Chapter 6 of Poor Economics, ‘Barefoot Hedge-Fund Managers’, Abhijit Banerjee talks extensively about both the above-mentioned categories of people. These two kinds of individuals who have nothing in similar at the first glance but as we dig deeper, realization dawns regarding how strikingly similar they both are. To draw an analogy, think of a pirate and a politician. When you think of pirate, immediately a Johnny …show more content…
The heart of the matter is that the risks and effects of these risks that the poor face are too great to go unattended. At present, this section of the society is so consumed in managing their risk that they are unable to focus on human investment, income appreciation, increased productivity, educational achievements, efficiency or a raised standard of living. For this, there needs to government intervention in the insurance market in the form of subsidies which may be phased out later because methods of mutual help too have their limits. There needs to be appropriate use of public funds for these barefoot hedge-fund managers who very often go ignored, yet constitute a major part of the society whose increased productivity through risk reduction will lead to a great increase in the development of the country as a
BAREFOOT HEDGE-FUND MANAGERS (POOR ECONOMICS)- AN ANALYTICAL SUMMARY
HEDGE FUND MANAGER: An individual who oversees and decides about the investments that are there in the hedge fund which are highly risky as they involve aggressive strategies and are less regulated than any other investments with the aim of getting high returns.
POOR PERSON: An individual with a dearth for the bare necessities of life with the aim of earning money to raise his standard of living and hoping to give a better life to his offspring though there is no guarantee of that sort.
In the Chapter 6 of Poor Economics, ‘Barefoot Hedge-Fund Managers’, Abhijit Banerjee talks extensively about both the above-mentioned categories of people. These two kinds of individuals who have nothing in similar at the first glance but as we dig deeper, realization dawns regarding how strikingly similar they both are. To draw an analogy, think of a pirate and a politician. When you think of pirate, immediately a Johnny …show more content…
The heart of the matter is that the risks and effects of these risks that the poor face are too great to go unattended. At present, this section of the society is so consumed in managing their risk that they are unable to focus on human investment, income appreciation, increased productivity, educational achievements, efficiency or a raised standard of living. For this, there needs to government intervention in the insurance market in the form of subsidies which may be phased out later because methods of mutual help too have their limits. There needs to be appropriate use of public funds for these barefoot hedge-fund managers who very often go ignored, yet constitute a major part of the society whose increased productivity through risk reduction will lead to a great increase in the development of the country as a