-Live Mint The International Monetary fund (IMF) has warned India against licensing corporate entities to step into the business of commercial banking, saying the risks associated with such a move potentially outweigh the benefits of creating more banks. IMF’s Financial System Stability Assessment Update said it would be prudent for India to first put in place and gain sufficient experience in implementing a comprehensive framework for the purpose before considering the entry...
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If you think we're done with neoliberalism, think again-George Monbiot
-The Guardian The global application of a fraudulent economic theory brought the west to its knees. Yet for those in power, it offers riches How they must bleed for us. In 2012, the world's 100 richest people became $241 billion richer. They are now worth $1.9 trillion: just a little less than the entire output of the United Kingdom. This is not the result of chance. The rise in the fortunes of the...
More »Two years without polio -T Jacob John
-The Hindu The large sums of money spent in the eradication of the disease is an investment in the economic development of the country In the 1980s, only three decades ago, 200,000 to 400,000 children, all under 5 years, were afflicted with polio paralysis annually in India. That was a daily average of 500 to 1000 cases. By the age of six, eight among 1,000 children already had polio paralysis; two would...
More »Understanding FDI in Retail: What Can Economic Principles Teach Us? -Abhirup Sarkar
-Economic and Political Weekly The recent debate on the acceptability of foreign direct investment in the retail sector in India has been mostly political. It is necessary to look into the pros and cons of FDI in retail from a purely economic point of view. This article identifi es the safeguards that should be undertaken before allowing giant multinationals to function in the country. Abhirup Sarkar (abhirup@isical.ac.in) is with the Indian Statistical...
More »Latin Americans rank as happiest people on planet
-The Financial Express Mexico City: The world's happiest people aren't in Qatar, the richest country by most measures. They aren't in Japan, the nation with the highest life expectancy. Canada, with its chart-topping percentage of college graduates, doesn't make the top 10. A poll released yesterday of nearly 150,000 people around the world says seven of the world's 10 countries with the most upbeat attitudes are in Latin America. Many of the seven do...
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