Shocked by the “pernicious practice” of publishing “paid news” by some newspapers and television channels – particularly during the recent elections – the Editors Guild of India has strongly condemned this practice, “which whittles down the foundations of Indian journalism.” Taking cognisance of “paid news” at its Annual General Meeting (AGM) on Tuesday, the Guild said: “Both the media organisations and editors who indulge in it, and the customers who offer...

Brazil and India are now among the top five government supporters of research into third-world diseases, according to a study issued last week, which found that middle-income nations are taking on more of the burden of ills afflicting their poorest citizens. The study, by the George Institute for International Health, based in Australia, found that nearly $3 billion was spent last year on new drugs or products for such diseases. Brazil...

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...

Borrowing was both the shaky foundation of global growth and the cause of its collapse. It started with a bust and it ended with an even bigger bust. In between was sandwiched an unsustainable boom. Banks have been humbled. Economists have been found wanting. Geopolitical power began to shift from west to east. That was the noughties that was. It barely seems five minutes ago that policymakers were fretting about the...

Hokum must have its kingdom. The judicial report on the culpability for the crime perpetrated on December 6, 1992, was first leaked and then laid on the floor of Parliament. The predictable sequel was an uproarious parliamentary debate. Countrymen are however not any more enlightened than they already were. That horrid outrage was committed over 17 years ago, in broad daylight, with the world’s media looking on. Thousands watched the proceedings...