Government and regulators need to focus on the systemic risk engendered by excessive compensation. As calendar year 2009 draws to a close, it is bonus season for the financial sector in the West. In the last several months, the need to cap bonuses and compensation packages has been extensively discussed in the context of limiting the future impact of the next financial sector breakdown. On December 9, 2009, the UK was...

One-third of India is starving. In fact, this population has been in a state of chronic hunger, a factor which should be taken into account while evaluating the poverty situation, human rights activist and eminent doctor Binayak Sen said in a lecture at the Tata Institute of Social Sciences here on Monday. As a physician, “it’s been my privilege to read the politics of the bodies of my people,” said Dr....

There has been no let-up in the rising trend of food prices. For the week that ended on November 28, the wholesale price index for food articles rose 19.05 per cent over the corresponding period last year. A week earlier, it was at 17.47 per cent. Indeed, arresting the price rise of essential commodities has been a challenge to the government for quite some time now. Some recent developments have...

Paul A. Samuelson, the first American Nobel laureate in economics and the foremost academic economist of the 20th century, died Sunday at his home in Belmont, Mass. He was 94. His death was announced by the Massachusetts Institute of Technology, which Samuelson helped build into one of the world’s great centres of graduate education in economics. In receiving the Nobel Prize in 1970, Samuelson was credited with transforming his discipline from...

In most cases, the gravest threats to the human rights of citizens emanate from states.  The Universal Declaration of Human Rights, signed on December 10, 1948, transformed an aspiration into legally binding standards and spawned a raft of institutions to scrutinise government conformity and condemn noncompliance. It remains the central organising principle of global human rights and a source of power and authority on behalf of victims. A human right, owed...