Why is India's most socially developed state - and one of the developing world's most advanced regions - an economic laggard? This question about Kerala, known all over the world for its lush landscapes, sun-drenched beaches and idyllic backwaters, has been a subject of intense debate among economists and social scientists. Kerala defies all stereotypes of a "socially backward" Indian state - swathes of people living in abject poverty, men outnumbering...

Finance Minister T.M. Thomas Isaac has rolled out a road map for utilising revenue from sand mined from dams. He has announced a proposal to make special provision for the development of areas around the dams as a compensation for the hardship they undergo owing to the mining and related activities. Replying to a debate on the Appropriation Bill on the supplementary demands for grants worth Rs.3,400 crore in the Assembly...

In 1960, when I was enrolled for my MA at the Delhi School of Economics, the shining star at the School was certainly K.N. Raj. The founder of the School, V.K.R.V. Rao, had left the institution, but came back every Founders’ Day to remind us of its glorious past and of the enduring values it embodied. Raj’s style was much lower key, but it soon became clear that his dedication...

I first met Paul Samuelson in 1962, as a student at MIT. A decade later, I had the pleasure of co-authoring with him a paper on the Theory of Index Numbers (American Economic Review, 1974) and another in the Royal Economic Society’s Economic Journal (1984). I last met him a couple of years back, on a sidewalk in Belmont, Massachussets. He was driving down the street and stopped upon seeing...

The novelist and critic, C.S. Lewis, said he had no time for those who thought that since they had read a book once, they had no need to read it again. The great works of literature were to read again and again. The urge to go back to a book was prompted sometimes by aesthetics, the desire to savour once more its artful or elegant prose; and, at other times,...