What is common between Brazil, Russia, India and China? That’s easy. They are the so-called BRIC countries. But, what is common between these BRIC countries and other emerging economies such as Indonesia, Argentina and South Africa? The answer: inequality. This disconcerting connect between these emerging economies is the focus of a report released last week by the Organization for Economic Cooperation and Development (OECD), the think tank for the club of...

Some time ago, newspapers in Britain carried full-page advertisements from the curiously named British Pig Association. This consortium of pig farmers was clamouring publicly that the supermarket chains were squeezing the farmers dry. Alongside them, Britain’s dairy farmers complained that a supermarket cartel was paring down their prices, while production costs went up and up. These farmers too have powerful lobbies; they are still in business. To this end, Britain, like...

Farmers are joining India Inc in mind, body and spirit. In a quiet revolution underway across the countryside, growers are setting up companies, replete with balance sheets, professional CEOs, board of directors, and income tax returns.  By pooling together the land and produce of their shareholders, these companies are signing lucrative deals with large retail chains, food companies and exporters keen to establish reliable supply chains. As many as 200 companies...

-The Indian Express   The Cabinet today approved the Companies Bill 2011 which, once approved by Parliament, will replace half-a-century-old Act. "The Cabinet has cleared Companies Bill, 2011. It is likely to be tabled (for consideration and passage) in the ongoing Winter Session," a Corporate Affairs Ministry official said after the Cabinet meeting. The Bill, which has already been vetted by the Parliamentary Standing Committee of Finance and also by different ministries, seeks to...

The anti-corruption movement has enabled the Indian middle class to feel smug about itself. Its members have gone through a vast range of emotions during the last two decades, from self-hatred to self-righteousness. Liberalisation of the economy has created for this class an excitement of many kinds. It has meant the freedom to pursue the quest for wealth without guilt and, at the same time, it has meant feeling set...