ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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The Next Internet Bust?

Facebook's recent colossal acquisition of WhatsApp is yet another sign that we are now in the middle of a new internet bubble. This bubble is different from that of the late 1990s in that it is being driven by excess liquidity in the system and the search for the "next big thing" like Google and Facebook.

Getting Best Value

The government has decided to reduce its stake in Videsh Sanchar Nigam Ltd (VSNL) from the present level of 52.97 per cent to 26 per cent by selling 25 per cent to a strategic partner who would have management control and the balance 1.97 per cent to employees. The decision is in conformity with the desirable objective of extricating the state from the provision of commercial services and concentrating its efforts on the supply of public goods that the state alone can provide. However, the way the government is going about the disinvestment process gives scope for disquiet.

Stock Market, Financial Euphoria and Collective Madness

Irrational Exuberance by Robert J Shiller; Princeton University Press, Princeton, New Jersey, 2000; £ 17.50 (hardback), pp xxi + 296.

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