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...
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End hand-holding: Let banks grow up
The RBI has reason to be concerned. Banks’ exposure to mutual funds (MFs) has more than trebled, from Rs 45,000 crore to Rs 1,64,000 crore, during March-November 2009. The RBI is worried that Stock Market volatility could impact banks and, hence, endanger financial stability. Hence, the overall cap on Stock Market exposure as part of macro-prudential regulation. Currently, the aggregate exposure of a bank to the capital markets in all...
More »Managing food prices
Even as reports pour in of a softening of food price futures, the spectre of food price inflation haunts households across the country. But to imagine that the inflation genie can be put back into the bottle through legislative fiat is the height of parliamentary fantasy. The Estimates Committee of the Lok Sabha has recommended just that! It wants new legislation to check price rise of essential commodities by capping...
More »Price rise needs check by Jayanthi Natarajan
Recently there has been considerable media discussion about the issue of rise in prices of essential commodities and the problem of food inflation. In a country like India, where the cost of food forms major part of the monthly or daily expenditure incurred by an average family, this is a debate which acquires poignant significance. This is a government that came into power based on a concern for and commitment...
More »Put agriculture high on agenda by William D Dar
The G8 countries have promised to increase the spending on agricultural development by $20 billion over the next three years. The amount is woefully less than the $44 billion that will be needed each year to end malnutrition. At the world leaders’ meeting in Copenhagen, it is imperative that governments pledge to adopt up-to-date technologies to boost food production as well as outweigh the negative impacts of climate change. A...
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