BUSINESS STANDARD | September 06, 2016
FLAME University, the pioneer in Liberal Arts Education in Indiarecently announced its association with the Library of Mistakes, Edinburgha charitable venture founded to promote the study of financial history. This is the first ever international association of the Library of Mistakes, Edinburgh, founded by the renowned market historian, Russell Napier.
Library of Mistakes provides a comprehensive collection of books and other materials related to business, economics, corporate and financial history. FLAME University's Vivekananda Library will be the first international branch of Library of Mistakes in Pune, India. The university has taken this step in its endeavor to constantly redefine education in India, promoting the study of Businesshistory, financial markets and value investing.
Commenting on the association, Dr. Devi Singh, Vice Chancellor, FLAME University said, "We are privileged to announce our association with the Library of Mistakes, Edinburgh. At FLAME, we believe in providing integrated multi-disciplinary education developing students to be future global leaders. FLAME gives foremost priority to research and comparable investment in research opportunities. This alliance enables our students to learn lessons from economic, business, corporate and financial history in an engaging manner."
He further added, "Library of Mistakes provides our students access to the past successes and failures of countries, economies, companies and industries. There is no better way of learning than from understanding past mistakes. This proves to be a great fit to the liberal education ethos of FLAME University. The University aims to inculcate a habit of lifelong learning and inquiry amongst students, leading to the advancement and holistic development of their well-being."
Russell Napier of the Library of Mistakes said, "The association with FLAME University is our first ever collaboration outside of our home country. The library is growing and aims to improve financial understanding one mistake at a time. We are very excited to have FLAME as our first alliance due to its focus on providing value investing education imbued with the spirit and essence of the liberal arts."
The Library of Mistakes provides a resource for the study of mistakes made in the sphere of Businessand finance, learning from the economic disasters of the past thereby improving financial understanding amongst professionals, students and the public. It focuses on the recorded uncertainty of how things work in the real world following the financial experiments of the past which ended in success and failures alike.
Through this association, FLAME University along with the Library of Mistakes strives to provide students and professionals a conducive environment to study financial history; to understand how finance has worked with commonalities amongst various seemingly different disciplines, rather than how it should work if key unrealistic assumptions are made.