RBI vs. Government

The RBI vs. Government battle is intensifying. The Narendra Modi government intends to keep pressing demands for the country’s central bank to relax lending curbs and hand over surplus reserves, amounting to whopping 3.6 lakh crore, even if it risks provoking a resignation by the bank’s governor. After the debacle of demonetization and GST, the […]

The Economics of Boom and Bust Cycle

Stock markets around the world are collapsing off late. The Indian stock market lost some 5000 points in one month time. The US stock market NASDAQ and S&P 500 erased all their 2018 gains. News headline in Reuters says the world markets are captured by the bears now. The so-called emerging market economies are slowing […]

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 […]

Movie Review: Madaari

The writer of Madaari is Shailja Kejriwal, and screenplay and dialogues are by Ritesh Shah. The movie stars Irrfan Khan as Nirmal Kumar – A lead character, Jimmy Sheirgill as Nachiket Verma – A Cop (CBI), Vishesh Bansal as Rohan Goswami – Son of Home Minister and Tushar Dalvi as Prashant Goswami – the Home […]

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 […]