Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a &#039;train crash&#039;. Excerpts: &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What is your assessment of the current global situation? &lt;br /&gt;
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I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;How vulnerable or insulated do you think developing countries are to the global crisis? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don&#039;t address it with intelligent policies- also yes. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What&#039;s missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there&#039;s nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? &lt;br /&gt;
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&lt;br /&gt;
&lt;em&gt;What do emerging economies do in case of such rapid depreciation, like India has witnessed? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I&#039;m not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn&#039;t follow at all. So you&#039;re not looking at a train crash when you look at the value of currency.
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Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation...&#039;,
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Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a &#039;train crash&#039;. Excerpts: &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What is your assessment of the current global situation? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;How vulnerable or insulated do you think developing countries are to the global crisis? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don&#039;t address it with intelligent policies- also yes. &lt;br /&gt;
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&lt;em&gt;To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
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&lt;br /&gt;
&lt;em&gt;Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? &lt;br /&gt;
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I don&#039;t think it&#039;s a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that&#039;s not enough, it means we&#039;re not getting our priorities right. We can&#039;t deny something that&#039;s absolutely essential to good human life for the sake of keeping something else up. Also, it&#039;s not just a matter of government priority, but public pressure because it&#039;s a democratic country. In terms of kinds of expenditure, it&#039;s a question of having an intelligent balance, every type of social expenditure is not good. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What do emerging economies do in case of such rapid depreciation, like India has witnessed? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I&#039;m not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn&#039;t follow at all. So you&#039;re not looking at a train crash when you look at the value of currency.
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-The Economic Times

Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation..."/>
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                <strong>Rupee depreciation needs to be viewed holistically; not necessarily a &#039;train crash&#039;: Amartya Sen</strong></h1>
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                <br /><div align="justify">-The Economic Times<br /><br />Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a 'train crash'. Excerpts: <br /><br /><em>What is your assessment of the current global situation? <br /></em><br />I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. <br /><br /><em>How vulnerable or insulated do you think developing countries are to the global crisis? <br /></em><br />I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don't address it with intelligent policies- also yes. <br /><br /><em>To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?<br /></em><br />To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What's missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there's nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. <br /><br /><em>Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? <br /></em><br />I don't think it's a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that's not enough, it means we're not getting our priorities right. We can't deny something that's absolutely essential to good human life for the sake of keeping something else up. Also, it's not just a matter of government priority, but public pressure because it's a democratic country. In terms of kinds of expenditure, it's a question of having an intelligent balance, every type of social expenditure is not good. <br /><br /><em>What do emerging economies do in case of such rapid depreciation, like India has witnessed? <br /></em><br />I'm not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn't follow at all. So you're not looking at a train crash when you look at the value of currency.</div>               </font>
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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a &#039;train crash&#039;. Excerpts: &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What is your assessment of the current global situation? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;How vulnerable or insulated do you think developing countries are to the global crisis? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don&#039;t address it with intelligent policies- also yes. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What&#039;s missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there&#039;s nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. &lt;br /&gt;
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&lt;em&gt;Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? &lt;br /&gt;
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&lt;br /&gt;
&lt;em&gt;What do emerging economies do in case of such rapid depreciation, like India has witnessed? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I&#039;m not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn&#039;t follow at all. So you&#039;re not looking at a train crash when you look at the value of currency.
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&lt;br /&gt;
Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a &#039;train crash&#039;. Excerpts: &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What is your assessment of the current global situation? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;How vulnerable or insulated do you think developing countries are to the global crisis? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don&#039;t address it with intelligent policies- also yes. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
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&lt;br /&gt;
&lt;em&gt;Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I don&#039;t think it&#039;s a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that&#039;s not enough, it means we&#039;re not getting our priorities right. We can&#039;t deny something that&#039;s absolutely essential to good human life for the sake of keeping something else up. Also, it&#039;s not just a matter of government priority, but public pressure because it&#039;s a democratic country. In terms of kinds of expenditure, it&#039;s a question of having an intelligent balance, every type of social expenditure is not good. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What do emerging economies do in case of such rapid depreciation, like India has witnessed? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I&#039;m not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn&#039;t follow at all. So you&#039;re not looking at a train crash when you look at the value of currency.
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-The Economic Times

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-The Economic Times

Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation..."/>
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                <strong>Rupee depreciation needs to be viewed holistically; not necessarily a &#039;train crash&#039;: Amartya Sen</strong></h1>
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                <br /><div align="justify">-The Economic Times<br /><br />Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a 'train crash'. Excerpts: <br /><br /><em>What is your assessment of the current global situation? <br /></em><br />I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. <br /><br /><em>How vulnerable or insulated do you think developing countries are to the global crisis? <br /></em><br />I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don't address it with intelligent policies- also yes. <br /><br /><em>To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?<br /></em><br />To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What's missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there's nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. <br /><br /><em>Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? <br /></em><br />I don't think it's a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that's not enough, it means we're not getting our priorities right. We can't deny something that's absolutely essential to good human life for the sake of keeping something else up. Also, it's not just a matter of government priority, but public pressure because it's a democratic country. In terms of kinds of expenditure, it's a question of having an intelligent balance, every type of social expenditure is not good. <br /><br /><em>What do emerging economies do in case of such rapid depreciation, like India has witnessed? <br /></em><br />I'm not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn't follow at all. So you're not looking at a train crash when you look at the value of currency.</div>               </font>
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-The Economic Times&lt;br /&gt;
&lt;br /&gt;
Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a &#039;train crash&#039;. Excerpts: &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What is your assessment of the current global situation? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;How vulnerable or insulated do you think developing countries are to the global crisis? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don&#039;t address it with intelligent policies- also yes. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What&#039;s missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there&#039;s nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I don&#039;t think it&#039;s a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that&#039;s not enough, it means we&#039;re not getting our priorities right. We can&#039;t deny something that&#039;s absolutely essential to good human life for the sake of keeping something else up. Also, it&#039;s not just a matter of government priority, but public pressure because it&#039;s a democratic country. In terms of kinds of expenditure, it&#039;s a question of having an intelligent balance, every type of social expenditure is not good. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What do emerging economies do in case of such rapid depreciation, like India has witnessed? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I&#039;m not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn&#039;t follow at all. So you&#039;re not looking at a train crash when you look at the value of currency.
&lt;/div&gt;&#039;,
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-The Economic Times

Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;br /&gt;&lt;div align=&quot;justify&quot;&gt;-The Economic Times&lt;br /&gt;&lt;br /&gt;Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a &#039;train crash&#039;. Excerpts: &lt;br /&gt;&lt;br /&gt;&lt;em&gt;What is your assessment of the current global situation? &lt;br /&gt;&lt;/em&gt;&lt;br /&gt;I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. &lt;br /&gt;&lt;br /&gt;&lt;em&gt;How vulnerable or insulated do you think developing countries are to the global crisis? &lt;br /&gt;&lt;/em&gt;&lt;br /&gt;I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don&#039;t address it with intelligent policies- also yes. &lt;br /&gt;&lt;br /&gt;&lt;em&gt;To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?&lt;br /&gt;&lt;/em&gt;&lt;br /&gt;To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What&#039;s missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there&#039;s nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. &lt;br /&gt;&lt;br /&gt;&lt;em&gt;Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? &lt;br /&gt;&lt;/em&gt;&lt;br /&gt;I don&#039;t think it&#039;s a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that&#039;s not enough, it means we&#039;re not getting our priorities right. We can&#039;t deny something that&#039;s absolutely essential to good human life for the sake of keeping something else up. Also, it&#039;s not just a matter of government priority, but public pressure because it&#039;s a democratic country. In terms of kinds of expenditure, it&#039;s a question of having an intelligent balance, every type of social expenditure is not good. &lt;br /&gt;&lt;br /&gt;&lt;em&gt;What do emerging economies do in case of such rapid depreciation, like India has witnessed? &lt;br /&gt;&lt;/em&gt;&lt;br /&gt;I&#039;m not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn&#039;t follow at all. So you&#039;re not looking at a train crash when you look at the value of currency.&lt;/div&gt;&#039;,
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&lt;div align=&quot;justify&quot;&gt;
-The Economic Times&lt;br /&gt;
&lt;br /&gt;
Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a &#039;train crash&#039;. Excerpts: &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What is your assessment of the current global situation? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;How vulnerable or insulated do you think developing countries are to the global crisis? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don&#039;t address it with intelligent policies- also yes. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?&lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What&#039;s missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there&#039;s nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I don&#039;t think it&#039;s a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that&#039;s not enough, it means we&#039;re not getting our priorities right. We can&#039;t deny something that&#039;s absolutely essential to good human life for the sake of keeping something else up. Also, it&#039;s not just a matter of government priority, but public pressure because it&#039;s a democratic country. In terms of kinds of expenditure, it&#039;s a question of having an intelligent balance, every type of social expenditure is not good. &lt;br /&gt;
&lt;br /&gt;
&lt;em&gt;What do emerging economies do in case of such rapid depreciation, like India has witnessed? &lt;br /&gt;
&lt;/em&gt;&lt;br /&gt;
I&#039;m not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn&#039;t follow at all. So you&#039;re not looking at a train crash when you look at the value of currency.
&lt;/div&gt;&#039;,
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-The Economic Times

Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation...&#039;
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-The Economic Times

Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation..."/>
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                <strong>Rupee depreciation needs to be viewed holistically; not necessarily a &#039;train crash&#039;: Amartya Sen</strong></h1>
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                <br /><div align="justify">-The Economic Times<br /><br />Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a 'train crash'. Excerpts: <br /><br /><em>What is your assessment of the current global situation? <br /></em><br />I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. <br /><br /><em>How vulnerable or insulated do you think developing countries are to the global crisis? <br /></em><br />I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don't address it with intelligent policies- also yes. <br /><br /><em>To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?<br /></em><br />To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What's missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there's nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. <br /><br /><em>Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? <br /></em><br />I don't think it's a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that's not enough, it means we're not getting our priorities right. We can't deny something that's absolutely essential to good human life for the sake of keeping something else up. Also, it's not just a matter of government priority, but public pressure because it's a democratic country. In terms of kinds of expenditure, it's a question of having an intelligent balance, every type of social expenditure is not good. <br /><br /><em>What do emerging economies do in case of such rapid depreciation, like India has witnessed? <br /></em><br />I'm not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn't follow at all. So you're not looking at a train crash when you look at the value of currency.</div>               </font>
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<div align="justify">
-The Economic Times<br />
<br />
Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a 'train crash'. Excerpts: <br />
<br />
<em>What is your assessment of the current global situation? <br />
</em><br />
I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. <br />
<br />
<em>How vulnerable or insulated do you think developing countries are to the global crisis? <br />
</em><br />
I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don't address it with intelligent policies- also yes. <br />
<br />
<em>To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?<br />
</em><br />
To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What's missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there's nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. <br />
<br />
<em>Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? <br />
</em><br />
I don't think it's a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that's not enough, it means we're not getting our priorities right. We can't deny something that's absolutely essential to good human life for the sake of keeping something else up. Also, it's not just a matter of government priority, but public pressure because it's a democratic country. In terms of kinds of expenditure, it's a question of having an intelligent balance, every type of social expenditure is not good. <br />
<br />
<em>What do emerging economies do in case of such rapid depreciation, like India has witnessed? <br />
</em><br />
I'm not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn't follow at all. So you're not looking at a train crash when you look at the value of currency.
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-The Economic Times

Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation...',
	'disp' => '<br /><div align="justify">-The Economic Times<br /><br />Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a 'train crash'. Excerpts: <br /><br /><em>What is your assessment of the current global situation? <br /></em><br />I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. <br /><br /><em>How vulnerable or insulated do you think developing countries are to the global crisis? <br /></em><br />I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don't address it with intelligent policies- also yes. <br /><br /><em>To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?<br /></em><br />To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What's missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there's nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. <br /><br /><em>Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? <br /></em><br />I don't think it's a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that's not enough, it means we're not getting our priorities right. We can't deny something that's absolutely essential to good human life for the sake of keeping something else up. Also, it's not just a matter of government priority, but public pressure because it's a democratic country. In terms of kinds of expenditure, it's a question of having an intelligent balance, every type of social expenditure is not good. <br /><br /><em>What do emerging economies do in case of such rapid depreciation, like India has witnessed? <br /></em><br />I'm not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn't follow at all. So you're not looking at a train crash when you look at the value of currency.</div>',
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	'title' => 'Rupee depreciation needs to be viewed holistically; not necessarily a &#039;train crash&#039;: Amartya Sen',
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<div align="justify">
-The Economic Times<br />
<br />
Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a 'train crash'. Excerpts: <br />
<br />
<em>What is your assessment of the current global situation? <br />
</em><br />
I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. <br />
<br />
<em>How vulnerable or insulated do you think developing countries are to the global crisis? <br />
</em><br />
I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don't address it with intelligent policies- also yes. <br />
<br />
<em>To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?<br />
</em><br />
To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What's missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there's nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. <br />
<br />
<em>Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? <br />
</em><br />
I don't think it's a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that's not enough, it means we're not getting our priorities right. We can't deny something that's absolutely essential to good human life for the sake of keeping something else up. Also, it's not just a matter of government priority, but public pressure because it's a democratic country. In terms of kinds of expenditure, it's a question of having an intelligent balance, every type of social expenditure is not good. <br />
<br />
<em>What do emerging economies do in case of such rapid depreciation, like India has witnessed? <br />
</em><br />
I'm not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn't follow at all. So you're not looking at a train crash when you look at the value of currency.
</div>',
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-The Economic Times

Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation...'
$disp = '<br /><div align="justify">-The Economic Times<br /><br />Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a 'train crash'. Excerpts: <br /><br /><em>What is your assessment of the current global situation? <br /></em><br />I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. <br /><br /><em>How vulnerable or insulated do you think developing countries are to the global crisis? <br /></em><br />I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don't address it with intelligent policies- also yes. <br /><br /><em>To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems?<br /></em><br />To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What's missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there's nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. <br /><br /><em>Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? <br /></em><br />I don't think it's a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that's not enough, it means we're not getting our priorities right. We can't deny something that's absolutely essential to good human life for the sake of keeping something else up. Also, it's not just a matter of government priority, but public pressure because it's a democratic country. In terms of kinds of expenditure, it's a question of having an intelligent balance, every type of social expenditure is not good. <br /><br /><em>What do emerging economies do in case of such rapid depreciation, like India has witnessed? <br /></em><br />I'm not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn't follow at all. So you're not looking at a train crash when you look at the value of currency.</div>'
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Rupee depreciation needs to be viewed holistically; not necessarily a 'train crash': Amartya Sen

-The Economic Times Nobel laureate and professor of economics at Harvard University, Amartya Sen believes developed world policies are worsening the global crisis and leaving emerging economies exposed. During an interaction with the press, he also said the recent rupee depreciation needs to be viewed holistically and is not necessarily a 'train crash'. Excerpts: What is your assessment of the current global situation? I think the global situation is pretty bad and the management of global economy is pretty bad too. The focus on financial responsibility is ultimately needed but the priority on financial curtailment at a time the global economy needs stimulus is, I believe, a mistake. The crisis is as deep rooted as it is because of unclear thinking by policymakers. In that context, the developing economies also have a problem to deal with. How vulnerable or insulated do you think developing countries are to the global crisis? I think the developing countries should be very concerned. Countries like China depend on developed countries much more, but India is also dependent. To address the problem, we have to take our own action in recreating conditions to recover from slackening European and American demand. There is risk of further slowdown in India. But can we address it- yes and can we go into further decline if we don't address it with intelligent policies- also yes. To what extent do you think a fiscal union in the Euro zone, as is currently being discussed, will be able to address deep-seated economic problems? To the extent that financial discipline and accountability is needed on part of all governments, that could be done more easily in an integrated plan. What's missing in the treaty is the intermediate plan- from 6 months to 3 years- when these economies are going to need economic growth and there's nothing in the proposal that addresses that need to guarantee growth. The middle period is being neglected- where is the economic growth and where will it come from. Can India, given its tight fiscal situation, implement extravagant social schemes such as the food security act? I don't think it's a very tight financial situation. We have four times the public revenue that we had twenty years ago and if that's not enough, it means we're not getting our priorities right. We can't deny something that's absolutely essential to good human life for the sake of keeping something else up. Also, it's not just a matter of government priority, but public pressure because it's a democratic country. In terms of kinds of expenditure, it's a question of having an intelligent balance, every type of social expenditure is not good. What do emerging economies do in case of such rapid depreciation, like India has witnessed? I'm not going to comment on current policies. But in general, some countries are very keen on keeping their currency values down in order to be able to export easily, like China. The conclusion that India is doomed out of a policy that China has benefited from doesn't follow at all. So you're not looking at a train crash when you look at the value of currency.