Bhavya Khanna relates a fascinating explanation:
Nehru in his often stated brilliance imposed severe restrictions on the trade and price of Gold in India. The sheik of Dubai had free trade in Gold, and was well, a smuggler’s paradise. Combine the two and you have possibly the largest movement of illegal gold trade in the 20th […]
The 21st century will be India’s. But some people just won’t get it.
What is common between these films?
Garam Hawa (1940); Naya Daur (1957); Upkaar (1967); Namak Haram (1973); Jane Bhi Do Yaaron (1983); Damini (1993); Gupt (1997); Phir Bhi Dil Hai Hindustani (2000); Rang de Basanti (2006)
As you might have guessed, each of these films portray the socio-economic realities of India in their times or have a […]
Ignorance, stupidity, in great affairs of state is not something that is commonly cited. A certain political and historical correctlness requires us to assign some measure of purpose, of rationality, even where, all to obviously, it does not exist. Nonetheless one cannot look with detachment on the Great War (and also its aftermath) without thought […]
The IMF has just published an excellent working paper authored among others by Raghuram Rajan, the chief economist of the Fund and Arvind Subramanian, also of the Fund. If you want a comprehensive overview of the idiosyncratic path of the Indian economy since 1947, there’s no better read than India’s Pattern of Development. In addition, […]
A V Rajwade, in an op-ed in the Business Standard complains that the economy’s changing, but leaders aren’t. He covers many of the things we’ve discussed here on IEB — among them, the re-emergence of manufacturing & the (somewhat) increased interest in agriculture. However, to me the most interesting portion was this tidbit […]
It is a rare occurrence when someone agrees with me, so I might as well record it when it happens. Ramnath and I have managed to agree that privatization is not the most important reform measure. We also managed to agree on which one it would be. We both say that product market liberalization is […]