The philosophy of self-aggrandisement defies social logic. Seven leading banks in the United States of America had last year incurred an aggregate loss of $82 billion; the chief executive officers of these banks nonetheless claimed and collected annual bonus to the extent of $38 billion. The economy might lie in ruins; that did not distract sharks from zooming in on their prey. Our corporate sector has shaped itself in the...

The film industry is tackling the controversial issue of farmer suicides After drinking pesticide out of sheer desperation, poverty-stricken farmer Nandu collapsed. He did this on screen in front of an audience at a packed multiplex cinema, which issued a collective gasp. Nandu is just a character in a recent Indian film about farmer suicides. But his tragic fate has been a reality for thousands of farmers across India. For the first...

The spectre of inflation has returned to haunt India. It is not even six months since the United Progressive Alliance (UPA) government returned to power but its inability to control food prices is arguably its single biggest failure till now. The inflation rate will eventually come down sometime in the (hopefully) not-too-distant future and the government will surely take credit for bringing prices down as and when that happens. But...

Just when everyone thought that the debate over large dams was settled against displacement, mega dams are back in business. Refusing to learn from our own mistakes are the three newly created states, Uttarakhand, Jharkhand and Chattisgarh. The three states are locked in battles against one another to attract foreign direct investment (FDI) to construct several large dams and barrages ostensibly to give a push to a new wave of...

India’s growth is not falling, although it is not as high as before If there is a crisis, there should be economics to deal with it; what use are economists if they are not around to help out when things get bad? And it is not enough to have economics. There was plenty of economics in 1929. As output and employment plummeted, economists said, this is good. It will take...