Mr. Bhagat, A Word Please
>> Monday, October 12, 2009
Since I have not really read the book, my only impression of it has been built by the bits and pieces the roommate indignantly read out loud to mark her displeasure. It is at her behest that I write this piece.
Mr. Bhagat, I am aware of the sheer esteem of the institutions you belong to, and the credit you bring upon them. The fact that I read 'five point someone' at what is best described as gunpoint and have not cared to read the rest might reflect a certain bias in my attitude towards your works, but personally, I have had nothing against you or your successes.
However, the latent economist in me can not but crib and cry afoul when she finds incorrect definitions and concepts lightly thrown about. My dear man, an L- shaped curve is not the marginal utility curve. Marginal implies differentiable and the L shaped curve has a kink. That is why it is L shaped in the first place. The L- shaped curve, sir, is in fact a special case of an indifference curve where two goods are supposed to be complements, which, since you have studied Microeconomics both in IIT and IIM, you must have memorized a thousand times.
Please do not insult economics or students of economics so, considering your own grounding of the basics does not seem to be the strongest.
Best wishes for your next work.
Regards
A very irked Economics student
