Ever since Gunnar Myrdal’s Asian Drama, which castigated India as a “soft state”, western observers, as well as many members of the Nehruvian wing of Macaulay’s children, have failed to understand the anarchical society which has existed in India for millennia. A recent review (Journal of Economic Literature, September 2009) by Lant Pritchett (a former World Bank official in Delhi) of Financial Times’ former India correspondent Edward Luce’s book In...

The head of the United Nations World Intellectual Property Organization (WIPO) today wrapped up a five-day visit to India, during which a major focus of discussions was protecting traditional knowledge, genetic resources and folklore. Director General Francis Gurry lauded India as a “pioneer” in dealing with questions related to these three issues, according to a news release issued by the Geneva-based agency. In particular, he highlighted the publicly available Traditional...

The Chennai Corporation will soon commission a study on the household and livelihood profile of 422 slums across the city. While it is to effectively implement the schemes funded under the Jawaharlal Nehru National Urban Renewal Mission, the data would also help the civic body assess other welfare measures for those living in slums. The Corporation will float tenders inviting agencies to conduct the survey for gathering the details, including...

In a more realistic and less confusing picture of the situation, the new wholesale price data monitoring system introduced on Thursday revealed that inflation of food articles soared by 13.39 per cent year-on-year during the week ended October 24, mainly owing to a surge in potato and onion prices, even as inflation for primary articles declined by 0.11 per cent on a weekly basis. As per the new data collation system,...

Despite signs of an economic revival gathering pace around the globe, the millions of people laid off during the worst recession in 70 years are unlikely to see relief any time soon as joblessness is still climbing in many of the world's largest economies. Unemployment data typically lags other indicators of economic health as companies hold off adding staff in the early stages of a rebound. The upturns recorded recently in...