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The Seven Year Glitch: UPA government's acts of commission and omission
Published on : Sunday, May 22, 2011
The Congress led UPA 2 government is marking its second anniversary. But this is also the seventh anniversary of the government headed by Dr Manmohan Singh who took office in 2004, when the Congress led UPA coalition defeated the BJP led NDA alliance. But the government is affected by the seven year itch. There is a sense of political paralysis with the various acts of ommissions and commissions being revealed periodically. While there is hardly any movement on vital policy issues, there is also looming fiscal crisis, writes Shankkar Aiyar in the Sunday Standard.
It’s social spend boom, stupid
Published on : Sunday, February 06, 2011
Amartya Sen recently said that it would be “stupid” to focus on double-digit GDP growth without spending more on social sectors. Jagdish Bhagwati, a potential Nobel Laureate, stressed that second-generation economic reforms should accelerate growth to finance withore targeted social spending. Sonia Gandhi’s key policy innovation has been a National Advisory Council brimming with NGOs. This led to the Right to Information, a sort of Right to Work , Right to Food and Right to Education. To claim that this is a mindless neoliberal search for double-digit growth is nonsense. I hope Amartya Sen will denounce such claims as stupid, writes Swaminathan Aiyar in Swaminomics.org.
Atlas Shrugged in Marathi
Published on : Thursday, January 20, 2011
"When the idea of translating Atlas Shrugged occurred to me, I was overtaken by awe. The prospect of finding the words that matched Ayn Rand’s powers of expression, conveying the philosophy clearly, and bringing alive the drama in her novel in Marathi was quite challenging. Most importantly, I wanted to be true to the meaning and sense of the text." Mugdha Karnik recounts her thoughts and experiences while undertaking this task of translating Ayn Rand's masterpiece.
Two Champions Of Liberty
Published on : Monday, January 03, 2011
Frederic Bastiat, the most brilliant Economic journalist of all times passed away last week 160 years back. He has a great influence on libertarians all over the world, even after more than one and a half century after his death. Some of his ideas bear striking resemblance to that of Ayn Rand. They spoke obvious truths which were habitually ignored. Few were as good at reductio ad absurdum as Rand and Bastiat, writes Shanu A in Liberty Institute website.
Has the Fed Been a Failure?
Published on : Tuesday, November 09, 2010
It is time to assess whether the United States' experiment with he Federal Reserve was a success or a failure. Empirical research has found that the establishment of the Federal Reserve has led to more monetary and macroeconomic instability. It's performance wasn't anywhere close to that of the National Banking System, which existed before World War I. We should explore alternatives to the established monetar system, writes George A. Selgin, William D. Lastrapes and Lawrence H. White in Cato Working Paper.
Business, not as usual
Published on : Saturday, October 02, 2010
Corruption is a fact of life, but especially so when a country is transiting from a low to a middle income country. There are differences in corruption over decades.Good governance, or less corruption, is a luxury service — as countries become more educated, more developed, more middle class, they demand less corruption, and they demand more efficient corruption, writes Surjit S Bhalla in The Indian Express.
India’s old image returns
Published on : Sunday, September 26, 2010
India made headlines all over the world last week for its incompetence, filth and shoddy infrastructure. These Games have brought nothing but shame so far. Nobody will invest in big infrastructure projects in India if they fear that they can be stopped by pressure from dodgy environmentalists. If we can make public hygiene a political priority, put some urgency into infrastructure and improve facilities for sportsmen, the Games may not be a complete waste of taxpayers’ money, writes Tavleen Singh in The Indian Express.
No robbing Peter to pay Paul
Published on : Sunday, September 26, 2010
The Commonwealth Games Organising Committee was granted a loan of Rs 1,600 crore by the government on the understanding that the amount would be paid back later by raising funds from gate money, advertisements and sponsors. Cabinet Secretary K M Chandrasekhar wrote a strong note on the file, objecting to PSUs being regarded as milch cows and recommended that the money not be sanctioned, writes Coomi Kapoor in The Indian Express.
Manuel Ayau: Champion of Liberty
Published on : Sunday, September 19, 2010
Americans who are discouraged by the erosion of individual rights in the U.S. could learn a lot from Ayau's courageous journey. The contradiction between the country's entrepreneurial potential and the high number of business failures stirred him to begin searching for answers to Guatemala's stubborn poverty and underdevelopment. Ayau and his colleagues read voraciously and debated vociferously. He lived to witness some major changes in his country, writes Lago Amatitlán in The Wall Street Journal.
The wealth of Adam Smith
Published on : Saturday, September 18, 2010
Two years have passed since the Great Crash of September-October 2008.The 2008 Crash is best seen as a Hayekian recession caused by “easy money” with the Fisherian consequences of a “balance-sheet recession”. It has been claimed that, once the central bank has cut interest rates close to zero, it would face a Keynesian liquidity trap, and the only recourse to keep up aggregate demand is through massive fiscal spending. However, the argument is not correct, writes Deepak Lal in Business Standard.
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