Just before Dhanteras and Diwali this year, the Reserve Bank of India (RBI) released the November edition of its monthly bulletin. The latest RBI Monthly Bulletin says that the GDP has contracted by -8.6 percent in the second quarter of fiscal year 2020-21 (i.e. July-September, 2020) as compared to the gross domestic product (GDP) during the corresponding period last year. It may be noted that India’s GDP shrunk by -23.9...
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Demonetisation may have caused infant mortality to rise in key states, finds new study -Shoaib Daniyal
-Scroll.in The unprecedented reversal comes after 15 years of steady progress by India in reducing infant deaths On November 8, 2016, the Indian government undertook a drastic policy decision, choosing to ban high value currency notes in circulation. Overnight, 86% of India’s currency became worthless, throwing live and livelihoods in disarray. Now new research is pointing to the widespread impact this dislocation might have had on human development. A new paper by economists...
More »Fixing the rules of the economy -Arun Maira
-The Hindu The fundamentals of the game have to change as they currently favour wealthy investors and not workers and tiny enterprises India has an incomes crisis: incomes of people in the lower half of the pyramid are too low. The solutions economists propose are: free up markets, improve productivity, and apply technology. These fundamentals of economics must be re-examined when applied to human work. Three solutions economists say markets should be freed up...
More »Amartya Sen said no democracy, with a free press, has ever had major famines -Lawrence Hamilton
-ThePrint.in In ‘How To Read Amartya Sen’, Lawrence Hamilton writes on the economist’s thrust on free press and public reasoning as the centre of a democracy. Amartya Sen is very clear that one of the central features of democracies which advance public reasoning in the world is support for a free and independent press. Unrestrained and healthy media are, he argues, important for five main reasons, the first four of which are: 1....
More »Jean Drèze on why Amartya Sen is the original ‘argumentative Indian par excellence’
-Scroll.in ‘Abstract as they may seem, his essential ideas are a springboard for public action’: Jean Drèze’s foreword to Lawrence Hamilton’s ‘How To Read Amartya Sen’. Amartya Sen is better known as an economist than as a philosopher, but he is both and more, like Adam Smith – someone he admires and who happens to share his initials. It is, quite often, his grounding in philosophy that enables him to question the...
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