Microcredit is losing its halo in many developing countries. Microcredit was once extolled by world leaders like Bill Clinton and Tony Blair as a powerful tool that could help eliminate poverty, through loans as small as $50 to cowherds, basket weavers and other poor people for starting or expanding businesses. But now microloans have prompted political hostility in Bangladesh, India, Nicaragua and other developing countries. In December, the prime minister of...

Responding to the lack of computer training in Mukteshwar’s schools, Veena Sethi, a retired Delhi University professor, set up two used personal computers in the basement of her home with the aim of bringing the basics of computing to school children. "There were no libraries, no laboratories and no computer classes. In fact, most of the schools in Mukteshwar [which is in the Nainital district of northern Uttarakhand state] had no...

The rapid growth of global markets has not seen the parallel development of social and economic institutions to ensure balanced, inclusive and sustainable growth. Although we may not have yet reached “the end of history,” globalisation has brought us closer to “the end of geography” as we have known it. The compression of time and space triggered by the Third Industrial Revolution —roughly, since 1980 — has changed our interactions with...

Since 1947, successive governments have missed innumerable opportunities to put the country on the path of sustained, inclusive growth. Time and again, quixotic ideology has led to meaningless debates, antediluvian policy and inexplicable strangulation of capacity buildup in both physical and social infrastructure. Even today, while the gap between current and projected national demand and supply is well acknowledged, the government continues to drag its feet in creating the policy...

The Environment and Forests Ministry was in news throughout 2010 -- be it for Vedanta Resources, Posco and Lavasa -- or for Jairam Ramesh's aggressive green activism. While the ministry rejected the green signal to Vedanta for its $1.7 billion project to mine bauxite in the Niyamgiri Hills of Orissa noting that the company violated the environment and forests rules, it put the $12 billion project by South Korean steelmaker Posco...