-The Hindu One of the most prominent features of India’s middle-class-driven public culture has been an obsession about our GDP growth rate, and a facile equation of that number with a sense of national achievement or impending arrival into affluence. In media headlines, political speeches, and everyday conversations, the GDP growth rate number — whether it is five per cent or eight per cent or whatever — has become a staple...

Our policymakers would rather let food grains rot than feed the poor. What explains the near-comatose lack of response to a long-brewing crisis of increasing hunger? The most valuable resource that a country has is its people. The poor are not a liability, but an asset; they are the producers of essential goods and services we use, they hold up the sky for us for a pittance of a reward. The...

REGULARITY and repetition—of returning rains, of seasonal temperatures, of the cycles of life and death—are the essence of agriculture. So perhaps it is not surprising when events recur. In 2007-08, food prices soared. Mozambique and 30 poor countries endured food-price riots. Russia led a procession of grain exporters to restrict sales. And the world had to face up to changes in the pattern of food demand, reversing decades of declining...

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...

If Paul Samuelson, who died this weekend at the ripe age of 94, has been described in many obituaries as the greatest economist of the 20th century and the “founder of modern economics”, even though most professional economists would credit John Maynard Keynes with that title, it is because most students of economics around the world came to the discipline through his textbook. First published in 1948, Samuelson’s Economics: An...