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...

Even a cursory glance at the daily newspaper reveals the economic mindset and the manipulation of that mindset into losing its sense of balance and well-being by the plethora of reports, articles and stories on the economic life of the Indian nation. There are all sorts of stories, statistics, credit appraisals, banking trends, FDI investment couched in the jargon of the modern economy that, curiously enough, seems to be so...

The Supreme Court today asked the central government to explain why lotteries shouldn’t be banned to save the poor from frittering away their meagre earnings in the hope of hitting the jackpot. The notice came a little over a week after another bench of the court asked Bengal to restrict draws of a lottery to once a week as mandated under a central law instead of one every five minutes. “Why should...

CITIES MAKE one simple promise to newcomers: Sacrifice yourself to me and your children shall prosper. This promise drew Ahmed Raza, a small-time wrestler from an Uttar Pradesh village and millions like him to the capital of newly-independent India. Raza kept his part of the bargain, yet half a century later, his daughter was pushed out of the city her father helped build, the only home she has known. “I...

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...