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...

This small and readable book is a layperson’s introduction to India’s economic catastrophe. Since many people believe in an ongoing economic miracle, such views are often dismissed as doomsday talk. But it is better to be aware of reality than to live in an illusion. The title is apt—Bhaduri offers us an unsettling vision of what awaits us if we continue along the current path. He alerts us to the...

FIVE HOURS’ bus ride from Kolkatta, just past the railway crossing at Beldanga, is a dilapidated concrete structure covered in half-torn posters variously advertising a Marxian utopia, films for red-blooded adults and bedroom advice for couples intent on children. Inside, in a tiny, dank room behind a desk, sits someone the Queen of England knows by name – and you should too. Lanky, awkward and at 16, the possessor of...

Demonstrates very high levels of social capital, but overall ranking brought down by low levels of education, internal security and health LONDON, October 26, 2009 – The third edition of the Legatum Prosperity Index, published on 26 October, 2009 ranks 104 countries (covering 90% of the world’s population), based on a definition of prosperity that combines economic growth together with measures of happiness and quality of life. According to this year’s Legatum...