Jomo Kwame Sundaram and Rosli Omar Owing to our varied circumstances and experiences, there are contradictory tendencies to either exaggerate or underestimate the power and importance of artificial intelligence (AI) in contemporary society. Nor should we uncritically legitimize everything AI can be used for, even if...
Freedom Is Future-Facing Free-market advocates must not be beguiled that technological change and disruption mean the end of capitalism. Conservatives and classical liberals face a challenge today similar to that faced by William F. Buckley Jr. at the founding of National Review as he stood athwart history yelling, “Stop!”...
4 Quotes on Free Trade from Classical Economists Timeless wisdom from four great economists whose ideas have changed the world. David Hume Nothing is more usual, among states which have made some advances in commerce, than to look on the progress of their neighbours with a suspicious eye,...
The Use of Knowledge in Society No Other Article Explains the Economic Problem As Clearly F. A. Hayek If you want to learn as much as possible about economics from just one article, read Friedrich A. Hayek’s “The Use of Knowledge in Society,” published in the September 1945...
C. P. Chandrasekhar As the term of the current NDA government nears its end, with signs of popular dissatisfaction over its performance on the economic front, the urge to ramp up expenditure to woo the electorate intensifies. But a number of factors have combined to render...
C.P. Chandrasekhar and Jayati Ghosh It’s that time of year again – the time when all eyes turn to those magic numbers, the actual and proposed fiscal deficits of the central government as shares of GDP. Breathless news anchors will interrogate financial investors on what the...
Jayati Ghosh The Brahmastra, or ultimate weapon, of 10% reservation in government employment for economically weaker sections (EWS) has been cynically deployed already, but even that does not seem to be delivering the desired public approval. Perhaps the general public has wised up to the fact...
Neo-Keynesianism The following article is from The Great Soviet Encyclopedia(1979). It might be outdated or ideologically biased. Neo-Keynesianism a bourgeois theory of state-monopoly regulation of the capitalist economy. Neo-Keynesianism is a modification of Keynesian economics to suit the historical conditions that took shape after World War II. Among the...
The 12th and last five year plan of India was completed on March 31, 2017. With this, the five year plans have become a thing of past. It was already announced that there will be no more five year plans. In August, 2017, NITI Aayog has...
The Finance Commission of India came into existence in 1951. It was established under Article 280 of the Indian Constitution by the President of India. It was formed to define the financial relations between the centre and the state. Finance Commission is a statuary, independent,...