Articles

Even when markets fail, market-based solutions can often be better than government ones. This needs emphasis in the wake of the Nobel Prize for economics going to George Akerloff, Joseph Stiglitz and Michael Spence, for showing that lack of formation […]

The future of the Middle East depends on the direction of US foreign policy. Many Indians have misgivings about your grasp of what is needed to create free, tolerant societies in the Middle East. These can only deepen after your

Amidst the excitement of the hijacking that wasn’t, the Bangladesh election, and the US build up against the Taliban, not many readers would have noticed a news item about an out-of-court settlement for $ 875 million reached by two top

In 1998, Islamic terrorists exploded bombs in US embassies in Kenya and Tanzania. President Clinton of the US was outraged, declared war on terrorism, and sent American planes to bomb terrorist camps in Afghanistan and a factory in Sudan. Did

Nobel Laureate Amartya Sen says that democracies have, without exception, abolished famine. A free press and lively opposition ensure that early warnings are given about drought and starvation, and political competition obliges the ruling party to take remedial as well

Why did the US economy, which in the 1980s seemed likely to be overtaken those of Japan and Europe, suddenly accelerate in the 1990s and leave others far behind? Forget the usual economic explanations. The main reason is cultural. The

Why did the US economy, which in the 1980s seemed likely to be overtaken those of Japan and Europe, suddenly accelerate in the 1990s and leave others far behind? Forget the usual economic explanations. The main reason is cultural. The

What does the gunning down of Phoolan Devi have to do with economic reform? A lot. The whole premise of economic reform is that the government should stop doing things that can be left to private enterprise (like running steel

The Dabhol Power Corporation (DPC), once touted as the showpiece of foreign direct investment in India, is now a shut-down wreck. Why? Because it failed the commercial test of satisfying consumer demand. It created too much production capacity (2,144 MW)

Although the Vajpayee-Musharraf summit failed to produce an agreed statement, many observers claim that considerable progress was made in areas like commercial exchanges or Sir Creek. One draft okayed at the foreign minister level made no mention of Lahore or