Category: Economy
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Flying on a single engine with clueless pilots in rough weather
That blog title was an attempt to summarize the state of global economy today. The global economy, for a while, is running on a single engine ; that is of US and UK. Euro zone is still struggling and one financial shock away from recession. Japan is running out of fuel after an year of…
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Battle of ideas on India’s future
In the midst of our economic woes in India, two of the world’s leading economists are debating on what the India’s future economic growth model should be. Amartya Sen and Jagadish Bhagwati are two of the eminent economists that India has ever produced. Both have a different point of view on the path that India…
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Food Inflation in India
Grab any news paper these days and we read about how the inflation is persistent in India, no matter how much the central bank tries to curtail the demand. Most economists argue that supply side economics are playing havoc with the inflation, especially so with the food items. This is an excellent video from WSJ…
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Breakout Nations
Can India be a breakout nation? is an excellent article about the potential of a country to become a breakout nation, that is to grow at a much faster rate than its peers with similar per-capita income. The factors that the author listed down are not the usual ones that we see in the newspapers and…
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Theory of Development
The Big Mac Theory of Development from National Bureau of Economic Research argues that it is not the people but their location that decides their wealth, after adjusting for purchase power parity. An employee in McDonald in India earns 1/3 of Big Macs per hour compared to similarly skilled employee in US who earns 3…