The global economic crisis has wiped out developing Asia's recent gains in poverty eradication as the meltdown is expected to have driven 21 million more people in the region into poverty. A joint report by the United Nations and the Asian Development Bank shows that the global economic slowdown has slackened trade, slashed export and tourism receipts and raised unemployment levels. This makes it difficult for the region to achieve its...

Issues today have to be dressed up in ways certified by the corporate media. They have to be justified not by their importance to the public but by their acceptability to the media, their owners and sponsors.  That the terrible tragedy in Pune demands serious, sober coverage is a truism. One of the side-effects of the ghastly blast has been unintended, though. The orgy of self-congratulation that marked the media...

Villagers were paid wages two months late which is a violation of rules  The government’s flagship scheme for the rural poor was meant to provide succour to the unemployed but here, at least, it seems to be the cause of distress. A recent social audit into the workings of the Mahatma Gandhi Rural Employment Guarantee Scheme (MGREGS) in Bihar by the Jan Jagran Abhiyan (JJA) in Araria district revealed serious problems...

The recession was less calamitous than many feared. Its aftermath will be more dangerous than many expect IT HAS become known as the “Great Recession”, the year in which the global economy suffered its deepest slump since the second world war. But an equally apt name would be the “Great Stabilisation”. For 2009 was extraordinary not just for how output fell, but for how a catastrophe was averted. Twelve months ago,...

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...