I had set myself an April 15 deadline to finish the first draft of my book, and I’m happy to let you know that I’ve achieved it. This draft weighs in at around 75,000 words, which is probably longer than I’d expected.
Now the hard part begins – of finding publishers, editing, promotions and all that jazz. I don’t even know where to start and which publishers to approach. This is a popular economics book where I use the concept of market liquidity (from finance) to explain why certain markets are structured the way they are, and how markets can be made more efficient.
Here is a brief introduction of the book that I’ve written. I’m yet to give it a name, but the subtitle is “How financial markets explain life”:
Why do people with specialised skills find it hard to switch jobs? Why do transfer fees for footballers always seem either too high or too low? Why are real estate brokers still in business despite the large number of online portals that have sought to replace them?
The answer to all this lies in liquidity. Broadly speaking, market liquidity refers to the ease with which a product or service can be bought or sold in a particular market. With its origins in financial markets, the concept has far-reaching implications in a large number of markets.
In this book, Karthik Shashidhar, a management consultant and public policy researcher, explores a large number of markets, financial and otherwise, and explains why they are structured the way they are. From relationships to property rights, from big macs to public transport, a large number of markets are dissected to show why liquidity remains a useful concept well beyond financial markets where it originated.
Now, while many of the examples are from India, I’ve written this book with a global audience in mind. Hopefully I should be able to publish and sell this book internationally.
There is a full chapter on the economics of Uber, and how surge pricing is critical to creating liquidity in the rides marketplace. There are also chapters on matchmaking, obsolete technologies, agricultural markets and why most Indians cook at home.
I haven’t really seen any other popular economics books from India, so don’t know where to start my publisher hunt. Any leads will be welcome. I’m currently in Barcelona, but will be returning to Bangalore in mid-May.
Oh, and there is very little intersection with this blog, or anything I’ve published so far. One chapter intersects one blogpost here, and another draws from a Mint piece I’ve written, but the rest is all fresh material. So, you people have no excuse but to buy the book when it does come out!
Wish me luck!