The Economic Times

Politicians love to pick and subsidise industrial winners. Crooked politicians simply seek kickbacks for backing \’winners\’. But clever, honest politicians believe they have the brains and vision to outguess the market. Kapil Sibal, the minister in charge of education and […]

Prosperity requires a massive shift of labour out of agriculture into industry and services. Agriculture accounts for barely 14% of GDP, but for over half all workers. The average farm size is below two hectares. Farmers simply cannot get prosperous

Prosperity requires a massive shift of labour out of agriculture into industry and services. Agriculture accounts for barely 14% of GDP, but for over half all workers. The average farm size is below two hectares. Farmers simply cannot get prosperous

The fall in India\’s GDP growth to just 6.5% in 2011-12 has caused much moaning and groaning, along with a search for silver linings. The silver linings most often highlighted are falling oil prices – which will reduce both the

In March, I accepted a daunting assignment: to lecture college students in Pune on The Morality of Capitalism. Predictably, this produced many sniggers. Capitalists are crooks, I was told. They milk you for all they can get. They cheat you

The late K Subrahmanyam, celebrated defence analyst, said the Indian government seemed incapable of strategic thinking. Perhaps intellectuals outside the government are no better. This has to be the verdict on an ambitious attempt by some of India\’s finest thinkers,

The late K Subrahmanyam, celebrated defence analyst, said the Indian government seemed incapable of strategic thinking. Perhaps intellectuals outside the government are no better. This has to be the verdict on an ambitious attempt by some of India\’s finest thinkers,

In analysing the Supreme Court judgment upholding the Right to Education (RTE) Act, television channels have focused too much on the 25% reservation of seats in private schools – including famous elite schools – for low-income children. This minor social

India has just a 50% chance of becoming a breakout nation (exceeding expectations of 7% GDP growth) in coming years. So says Morgan Stanley honcho Ruchir Sharma in a fascinating new book, Breakout Nations. There is no better book for

Extractive political institutions (autocracy and empire) lead to extractive economies benefiting elites, and cannot create general prosperity save for limited periods. Inclusive political institutions (democracy, rule of law and rights for all) create inclusive economic regimes with opportunity for all,