Despotism of Democracy

Elections are the major rituals of the modern day secular religion of Democracy. Elections in four states and the grand 2019 Loksabha election, were the fate of the Modi government will be decided, are coming up again. Now round the clock people will be bombarded, by the mainstream media, with the message of how important […]

The IL&FS Insolvency: A Canary in the Coal Mine

IL&FS insolvency is rocking the Indian stock markets right now. The situation is so grim that the Modi government has now “nationalized” the company! They have bailed out a private limited company by using public money. The news is coming out that, as usual, LIC and state bank of India (SBI) are being coerced by […]

Book Review: “The Long Divergence: How Islamic Law Held Back the Middle East”

The Long Divergence: How Islamic Law Held Back the Middle East. Princeton: Princeton University Press, 2013 by Timur Kuran Middle East, the region that includes the old Ottoman Empire, Iran, Egypt, the Maghreb (Tunisia, Algeria, Libya etc., countries), is marred with economic backwardness and wars at least since last millennia. This cradle of civilization, where […]

Privatizing Protection, Rescue and Relief Work

The recent historic flooding in Kerala killed hundreds of people and damaged billions of rupees worth of property while displacing more than million people. Keralites are going to need some time to get out of this shock. This flood once again raised many important questions like who is responsible for this flood? Is this a […]

Hindus and their Holy Cow

After the sweeping election win of Narendra Modi and his Hindu nationalist BJP party four years ago, there is a barrage of misleading propaganda coming from Modi and his government about the so-called glorious past of India and the sacred Hindu culture. Hindu fundamentalist forces (sic), under the tutelage of Modi and his government, are […]

The Reason why Rupee is falling against Dollar

The Indian rupee is known to be the worst performing currency in the South Asia region. Continuing its worst performance it fell to its all time historic low level of 69 rupees against 1 US dollar few days back and again today. Why is rupee falling against dollar? The fundamental reason is its demand and […]

The Laws of Economics are always in Action

Last year the government of India passed a bill extending maternity benefit leave from 12 weeks to 26 weeks for the pregnant women with lot of fan-fare. The objective of this law was to protect the employment of women during the time of pregnancy and entitles them to full paid absence from work to take […]

Rats are Leaving Modi’s Sinking Boat

Two Arvinds, Arvind Panagaria and Arvind Subramanian, have resigned from the top economic positions in the Modi government before their terms ended. Arvind Panagaria was the vice chairman of the NITI Aayog, the former economic planning commission, and Arvind Subramanian was the chief economic advisor. They both resigned and went back to their former teaching […]