PANDEMIC OR PANDEMONIUM
In March, the World Health Organization (WHO), a notoriously inefficient and corrupt organization, declared the COVID – 19 virus (also called the corona virus) to be a global pandemic– an indication of […]
In March, the World Health Organization (WHO), a notoriously inefficient and corrupt organization, declared the COVID – 19 virus (also called the corona virus) to be a global pandemic– an indication of […]
For those of you who are mathematically inclined the spread of a virus follows what is called an asymptotic distribution. It grows exponentially at first and then the rate of growth slows down and […]
A question I get asked often these days is this: Is India headed for a recession? The standard definition of recession is a drop in GDP for at least two consecutive quarters. […]
The Reserve Bank of India (RBI) has three main areas of responsibility. It is a banker of banks and is responsible for maintaining public confidence in the banking system. It is also the government’s […]
In the 2019 budget, the FM announced that the government would increase its borrowing in the international market. This was being done to avoid the “crowding out” effect—a phenomenon where the government borrows money […]
The 2019-20 budget is done and dusted. As with most Indian budgets, this one too was a big yawner except in its implications for the stock market.
Any prediction about the […]
Mr Modi will encounter a tough economic climate in his second term. The combination of heightened expectations and a weaker global economy will act as headwinds. Plus, he can no longer deflect […]
Truth is not the first casualty of war alone; it is the first casualty of populism
Today’s world is being increasingly shaped by charismatic leaders. In the US, Europe, and more […]
“A single lie discovered is enough to create doubt in every truth expressed.”
Recently there has been much debate about the Indian economy. Surveys conducted by government agencies such as the […]
Stable, liquid and transparent financial markets are a necessary condition for the growth of a modern economy. An economy grows by developing new products and services and incubating new ideas, and this […]
There are broadly two kinds of pension plans. In defined benefit plans, the employer guarantees a fixed (defined) pension benefit to the employee upon retirement. The risk associated with investing the pension […]
We live in the age of entrepreneurship. The vast majority of products, services and technologies we use today come from new start-ups, and over 70 per cent of global employment is attributed […]
The Ministry of Finance and the Reserve Bank of India (RBI) are engaged in a dangerous game of chicken. Game theory tells us that “winning” or playing such a game to its […]
Who pays when you make a mistake? You do. Who pays when the government makes a mistake? Yes, Still you…..Anonymous
In a bizarre move the government, which controls seventy per cent […]
There is an important and growing trend in democracies around the world. Public outrage over governmental corruption is toppling more and more leaders. In the last six months alone, leaders from Malaysia, […]
Countries pass through stages on the road to economic prosperity. Economist W.W.Rostow postulated five such stages of economic development: the traditional society, pre-take-off, take -off, drive-to-maturity, and period of mass consumption.
<p style="text-align: […]It is estimated that since 2014 about 23,000 millionaires have left India to settle in other countries (Morgan Stanley). The vast majority of […]
In an article dated May 31st, 2017, I wrote that the Indian stock market had room to run on the upside and that a 20% increase over the next two […]
What comes to mind when you hear the word “eminent” ? Most reasonable people would associate eminence with someone that has attained a level of achievement far beyond others through years of hard work, […]
Governments and bureaucracies were never designed to produce strategic thinking and efficient outcomes. Decision making requires courage, and when the primary objective is […]
The New York Times (NYT) is as rabidly anti-Trump as any other newspaper in the world. So recently (June 1, 2018) when the […]
Recently the government put Air India up for sale. Predictably, they made the terms of the deal so onerous that there were no […]
India will hold its national elections in the next 12 months. Indians love their politics and emotions are sure to get charged up. The evening news will be full of shouting matches, […]
It will soon be election time in India–a […]
We need leaders not in love with money but in love with justice. Not in love with publicity but in love with humanity. Leaders who can subject their particular egos to the pressing urgencies […]
Since January 2018 the Indian Rupee (INR) has depreciated almost 6% against the US Dollar. Over the last seven years, the INR has depreciated 35% against the USD in nominal terms.
<p style="text-align: […]The recent rape and brutal murder of an 8-year old girl in Kathua ( Jammu ) have been universally condemned. What is equally […]
Education and skill development fulfil two goals simultaneously: an economic goal to provide businesses with a skilled workforce necessary to enhance productivity, improve competitiveness and increase economic growth, and a social goal […]
You signed on to Facebook, voluntarily. You posted information on it freely. You liked other people’s posts and commented on them willingly. You […]
It appears […]
I hate watching evening debates on Indian television. Besides the uncontrolled shouting and the lack of intelligent and respectful discussion, it is always […]
Imagine a world with no controls on how you exchange money with people. There are no global boundaries on where goods and services are […]
Various Indian governments have been pushing the global credit rating agencies (CRA’s) to reexamine the country’s credit rating given its clean seventy-year credit history and recent economic growth. Last week Moody’s finally […]
November 8th, the “ anniversary ” of demonetization, was also a day that hazardous airborne pollutants crossed critical levels in Delhi. One event caused […]
Even Mr.Modi’s most ardent critics will acknowledge his immense enthusiasm and self-belief. But it is his misguided belief that he can somehow “fix” […]
Most countries provide some form of welfare assistance to those who are less fortunate. And while there might be disagreement on how to […]
Economic freedom is the bedrock of modern capitalist societies. It is based on personal rights, voluntary exchange, and open markets. The link between economic freedom and prosperity has never been clearer. The […]
Libertarianism is the philosophy of liberty–of personal, political and economic freedom. The modern concept of liberty emphasizes the right of individuals to live […]
There are reports that the government is contemplating a Rs. 50,000 crore stimulus to boost the economy. The notion that governments need to […]
Mr. Modi came to power with the promise of being a transformational leader. But most of his recent “big bang” ideas have been […]
No relevant background for the job, no problem. India has set a precedent by being the first country to make it illegal for […]
Recently a friend of mine lost her mother. The ‘chautha’ meeting was atypical of a Hindu-family prayer meeting.
There was a Muslim muezzin, a Sikh granthi, a Hindu bhajan singer and […]
In the first three parts of my letter to you, I argued that the principal cause for many of […]
In Part 1 of my letter, I analyzed four of your recent decisions […]
Your commitment to making India great is unquestionable. Your tireless promotion of Brand India is unparalleled in Indian politics. […]
We all want economic progress. But how should we measure economic progress?
In last week’s newsletter, I used the analogy of a […]
India’s GDP growth has declined now for four consecutive quarters. Total GDP ( Gross Domestic Product) has dropped almost 3.1% since the 4th quarter of 2016. Future GDP will likely get worse as […]
The Indian stock market has had a good run. Stock prices have more than doubled over the last ten years.
How long will […]
How does India stack up against other countries on attributes like economic freedom, ease of doing business, corruption, educational opportunities, environmental sensitivity, liberty, individual […]