-The Hindustan Times India's official poverty line-a vital economic statistic-is threatening to snowball into a major political controversy in an election year. Political parties are busy quibbling over the details of defining a poverty line amid a welter of protests from social activists who are accusing it of abdicating its responsibility. Economists set a poverty line to fix a threshold income to get a headcount of poor people in a country. Households...

-The Business Standard Growth, not entitlement, reduces poverty, according to the latest data The numbers may seem unrealistic, but the broad indication is loud and clear: among all available medicines, growth seems to be the most effective medicine against poverty at the moment. According to the recently released poverty data, states like Odisha, Bihar and Rajasthan have done well when it comes to reducing poverty in the last seven years. And these...

-The Business Standard Can Bhagwati-Sen debate bring the same change as Hayek-Keynes duel in the US in 1932 At a time of economic crisis, a distinguished group of economists wrote a letter to a major newspaper, making a case for increased government involvement in the economy. A few days later, an equally distinguished group of economists wrote a letter to the same newspaper, arguing against the first lot. No, this...

-The Economic Times NEW DELHI: Bihar chief minister Nitish Kumar is leveraging his politically 'unattached' status to seek higher wages for his people under the Centre's rural employment guarantee scheme. Kumar, being wooed by the Congress after he parted ways with the BJP, has written to Prime Minister Manmohan Singh saying that the state plans to raise NREGA payments to align them with the statutory minimum wage. "Notification of lower wage rates...

-The Business Standard 7 things you should know in the Bhagwati vs Sen slugfest Jagdish Bhagwati and Amartya Sen are the two Indian economists who are most respected for their work. Both have worked on a broad spectrum of issues, though Sen is best known for his work on public choice and development and Bhagwati for his work on trade. They are both liberal, neoclassical economists, who support deregulation and disapprove of...