economic policy

After Raghuram Rajan

Capture

BACK TO THE 1990s

Mamata Bannerjee

In 1996, when there were still considerable fears about the future of economic reform and western investors were flocking to management gurus to brush up on the basics of India, the Wall Street Journal quoted an Indian marketing expert instructing potential investors with a simple dictum. “Repeat after me,” he would go. “India is different, […..]

IT’S ALL ABOUT THE GINI STUPID

The Supreme Court’s direction to the CBI to treat the big fish among the corporate beneficiaries of the telecom scandal exactly the same as the nameless middle-level pawns has hit the nail upon the heart of the matter. At one level, this is about following the simple logic of the law. At a deeper level […..]

G20 OR G-NOWHERE?

Other countries host the G20 as a closed-door confabulation of leaders, wrapped up in a cocoon of water-tight security lest the usual legions of protesters outside spoil the party. South Korea has treated the latest Seoul meeting of the G20 as a coming-out party of sorts to showcase its own journey from poor East Asian […..]

MANMOHAN’S ‘DISMAL SCIENCE’

Responding to Malthusian theories about population growth, the Victorian writer Thomas Carlyle coined the term ‘the dismal science’ to denote the newly emerging discipline of economists. It’s a different matter, of course, that Carlyle himself thought that slavery was morally superior to the laws of demand and supply. The term has long since gained currency […..]