Raghuram Rajan corrects C K Prahalad

The Indian Express reports:

"Rajan, himself is a renowned economist, said during a recent micro finance event, “I think Prahalad did a disservice by saying that there is a fortune at the bottom of the pyramid. “My sense is that you cannot, in good conscience, make a fortune at the bottom of the pyramid. Make reasonable profits, but if you start making a fortune, it does start raising societal anxiety about how the fortune is being made”. 

Rajan has exhibited intellectual honesty and political incorrectness in correcting a widely-held thought.

Tips from the untipped

"You people are really nuts,” she told a reporter during a phone interview. “There’s kids dying in the war, the price of oil right now — there’s betterthings in this world to be thinking about than who served Hillary Clinton at Maid-Rite and who got a tip and who didn’t get a tip.” These wise words were uttered by an apparently uneducated waitress who was tipped or not tipped depending on which news-source you rely on.--Srivarahan