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 […]
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 […]
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 […]
The Indian stock market has had a good run. Stock prices have more than doubled over the last ten years.
How long will […]
Madam Speaker:
For almost 70 years, Finance Ministers have come to this august body and said: “ the government will do this, and the government […]
Almost all government programs are started with good intentions, but the results are always the opposite of the intentions of the well-meaning people who originally backed it. – Milton Friedman (Nobel Prize, Economics, […]