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...

Think environmentalists are stooges? You’re the unwitting recruit of a hugely powerful oil lobby.  The evidence of man-made global warming is unequivocal People behind climate denial campaigns know that their claims are untrue When you survey the trail of wreckage left by the climate emails crisis, three things become clear. The first is the tendency of those who claim to be the champions of climate science to minimise their importance. Those who...

SOMETIMES, TO accentuate the intransigence of the present, one must revisit the past. So first, a flashback. The year is 2006. An ordinary November evening in Delhi. A slow, halting voice breaks into your consciousness. “How shall I explain? It is not a punishment, but my bounden duty…” A haunting phrase in a haunting voice, made slow with pain yet magnetic in its moral force. “My bounden duty.” What could...

Real estate may be the epicentre of Dubai’s debt crisis, but it is the Indian commodity trade that will feel its aftershocks for months to come. Two reasons make Dubai important to Indian companies. One, Dubai is the hub of most-traded commodities, from pearls, gold and diamonds to tea, cotton, basmati and sugar. Crucially, it is gateway to west Asia. All the top players in the region, especially Gulf Cooperation...

Eleven months after B. Ramalinga Raju, the former chairman of Hyderabad-based Satyam Computer Services, confessed to masterminding a $1.2 billion fraud at Indias fourth largest I.T. outsourcing company, the dirt is still tumbling out. On Nov. 24, the country's Central Bureau of Investigation (CBI) released findings that show the alleged fraudulent accounting and embezzlement was far larger than originally thought. Raju and nine accomplices skimmed some $2.5 billion from the...