The world economy is recovering, and the price of oil too. It has crossed $70/barrel, and could return to $150/barrel, if the recovery continues. Can India do anything new to meet this energy challenge? Yes, it can change its exploration […]
Shale gas: Could it be a new energy source? Read More »
Sometimes the twists and turns of socialism yield unwitting libertarian outcomes. Indian politicians, who remain socialist at heart despite some recent liberalization, have just enacted a Right to Education Act, giving every child in the 6–14 age group the right to
Socialism and School Choice in India Read More »
Just five months ago, when stock and commodity markets hit rock bottom, capitalism was viewed as seriously if not terminally sick. The Financial Times ran a series of articles labeled “The Future of Capitalism.” Economists, politicians, and philosophers saw the
Financial crisis? No, capitalism as usual Read More »
Religion and business rarely mix well. This shows up in the encyclical of Pope Benedict XVI. The encyclical generally supports globalization, but criticises Western companies that outsource business to developing countries. This criticism has an unfortunate ethnic slant. The Pope
The Pope’s moral blunders on outsourcing Read More »
In his budget speech, the Finance Minister hailed bank nationalization as visionary and revolutionary. Yet nationalized banks have, by and large, not reached the poor. However, micro-finance is now reaching people whom nationalized banks could not. Households getting micro-credit now
How micro-finance institutions beat nationalised banks Read More »
When Narendra Modi won the 2007 state election in Gujarat, the media focused on Hindu-Muslim issues. Some journalists highlighted rapid industrial development that had made Gujarat India’s fastest-growing state. I mentioned Gujarat’s successful port-led development. However, an excellent new study
Agriculture: Secret of Modi\’s success Read More »
When Narendra Modi won the 2007 state election in Gujarat, the media focused on Hindu-Muslim issues. Some journalists highlighted rapid industrial development that had made Gujarat India’s fastest-growing state. I mentioned Gujarat’s successful port-led development. However, an excellent new study
Agriculture: Secret of Modi\’s success Read More »
Air India lost Rs 5,000 crore last year, and is surviving on huge government handouts. Opposition politicians are critical, but reject any cut in its bloated staff. Across the world, airlines are reducing staff in the recession. But Air India
Let Air India fade away like HMT and IDPL Read More »
Why did the budget cause the Sensex to crash by over 1000 points, and cause global rating agencies to mutter that if India did not pull up its socks, its bonds would be downgraded? Finance Minister Pranab Mukherjee has gone
One-night stand or prolonged affair? Read More »
On budget day, the Sensex tanked 869 points and gilt yields rose 30 basis points. The markets seemed to be repelled by Pranab Mukherjee’s budget. In fact, the budget does a good job of dealing with a Great Recession. That
Strong content, lousy presentation Read More »
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