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There is too much evidence that trading with the world raises income rather than engendering poverty
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It is too early to say for sure what was the root cause of the financial crisis, but Fisher and Minsky offer the most interesting clues on how the problems built up, while Keynes offers the clearest road out of the wreckage
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Have Indian households adjusted to the slowdown by cutting savings rather than spending?
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The record suggests that India’s economy began decoupling from its farm sector at least two decades ago
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Essential public services are in disarray. This is not a problem that the upper classes bothered about till now
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He was very unfairly seen by some as a finance ministry man who would ensure RBI toes the New Delhi line
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Engineers and firms from across the world came together to build the bridge. And then politicians fought
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After the July 1969 decision, political control of banks meant political control over the entire Indian economy
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The government loves talking about inclusive growth; it should also worry about rising oligarchic capitalism
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India can scale the recent growth peaks only if the savings rate does not decline as a result of the huge fiscal deficit
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It is easy to announce welfare schemes and spend on subsidies if you can afford it. But these are not long-term solutions to the problem of mass poverty
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While ensuring Indian students abroad are safe is undoubtedly the most immediate task, the recent violence should also lead Indians to ask why so many of our youth need to go abroad to study every year
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Many had believed a certain class of investors and fund managers were blessed with extraordinary skills that helped them earn millions in recent years
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The Manmohan Singh government failed to tackle the deficit problem decisively while it has a mixed record of improving the country’s infrastructure. The highest scoring point for Singh’s government was on the distribution front
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There is a lot of hard work still to be done, especially in America and China. The former has to save more and the latter has to spend more if global imbalances have to be ironed out
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Every sensible political leader and serious economist knows that the worst thing that can happen right now is for countries to insidiously close their borders to protect local industries and jobs
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Even as the debate on the quality of historical statistics rages around us, it is also time that economic debate in India takes data on the subjective preferences of consumers, companies and financial market traders more seriously
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The problem in India is that an unacceptably large fiscal deficit has spooked the bond markets and will most likely crowd out private sector borrowing when the economy recovers
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It is the tendency of human beings to search for or interpret information in a way that confirms their previous beliefs or prejudices
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