The Times of India

The Solution to Dabhol

I am extremely glad that such a row has been kicked up about the power tariff of the Dabhol Power Company, in which Enron has a 50 per cent stake. Not because the company is making extortionate profits: that is …

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IMD Suddenly Looks Wise

The India Millennium Deposit (IMD) scheme, which collected $ 5.2 billion from non-resident Indians in October, was widely castigated as expensive and unwarranted foreign borrowing. But today fears of a global recession are spreading fast. That makes IMD look like …

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Neo-Hindu Rate of Growth?

Is Hinduism putting on new economic clothes? For the first three decades after independence, India\’s GDP grew at an average rate of 3.5 per cent annually, which was dubbed as the Hindu rate of growth. Creeping liberalisation helped accelerate the …

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Lessons from Florida

MANY lessons flow from the deadlocked US presidential election, which is beginning to look like something out of Never-Never Land. One major lesson for the United States of America is that pride goes before a fall. Having lectured other countries …

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Law of Unintended Consequences

The law of unintended consequences says that any policy will typically have consequences not foreseen by either its proponents or critics. Douglas North, the Nobel Prize-winning historian, says successful policy-makers are those who have made shrewd guesses and benefited from …

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