I recently attended a talk by P. Sainath, an eminent Indian journalist. The talk was titled, very interestingly, "Moral Economy of the Elite". Let me begin by saying, he mocked economist throughout his lecture. While doing so, he quoted Kenneth Boulding and said, "Anyone who believes in indefinite growth on a finite planet is either … Continue reading The Order of Our Society Today
The elevation of the NDA coalition to the Union Government in April 2014 was no surprise. The UPA-II faced extreme corruption charges along with anti-incumbency from the electorate. What Prime Minister Modi did correctly, and strikingly differently, was to run a presidential-style election campaign for the BJP whereas the Congress party was left faceless and … Continue reading Economic liberalism over societal liberalism?
CBSE and ISC boards announced their results in the last few days. What was shocking to see was the focus on the toppers of the respective boards scoring equal to or upwards of 99.5%. As we climb down the ladder, the fall is less than 0.1% per rank, with many students sharing the same rank … Continue reading The irony in India’s College Education
Dr. Raghuram Rajan, the immediate previous Governor of the Reserve Bank of India began a bold task in the last year of his tenure, that to clean up bank balance sheets. Indian banks have been facing a grave issue of rising Non-Performing Assets (NPAs), since the last five years now. The reasons behind this phenomenon … Continue reading Does India Really Need A Bad Bank?
The concept of implementing Universal Basic Income (UBI) is a relevant one, that poses severe challenges to Governments and policymakers around the world. But it is also a highly controversial and contestable one. The argument about UBI will surely catch fire in the near future as we start seeing jobs getting replaced by robots at … Continue reading The Case Against Universal Basic Income In India
The Union Budget 2017-18 got all the limelight it wanted, first with the dates right before the assembly elections in a few major states, and on the morning of the D-day due to passing away of a sitting MP, inciting ruckus from the opposition to adjourn the parliamentary proceedings for the day. Thought the first … Continue reading A Synthesis of the Union Budget 2017-18
The 196 countries on the face of the earth have 180 different currencies. But the world has been suffering from currency hegemony in the last century or so. Starting with the Pound in the early 20th century, the world also saw dominance by the Yen, the US Dollar, and recently, after its formation, the Euro. … Continue reading Arguments For A Single Global Currency