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Wan Manan Muda and Jomo Kwame Sundaram October 10, 2019 Two decades into the 21st century, all too many people still associate being ‘overweight’ with prosperity, health and wellbeing, mainly because being thin has long been associated with being emaciated due to hunger, undernourishment and malnutrition. Overweight and...

C. P. Chandrasekhar and Jayati Ghosh It is only too evident that the Modi government is a strongly centralising one in many ways – and this is also clear from various fiscal moves. In 2015, it accepted the recommendation of the 14th Finance Commission to increase states’...

Prabhat Patnaik The Modi government has an unerring instinct for bungling in economic matters. It has come out with a “fiscal stimulus” for tackling the current economic slowdown that will actually make matters worse. After successive interest rate cuts which were predictably futile, it finally turned...

Tejvan Pettinger This is a theory which estimates the likely utility of an action – when there is uncertainty about the outcome. It suggests the rational choice is to choose an action with the highest expected utility. This theory notes that the utility of a money is...

James Tobin (1965) presented a simple model of monetary growth which follows the Solowian model (which Tobin had independently developed in a 1955 model) in all respects plus one: the existence of government debt (net "outside" wealth). For our purposes, let us assume there is only one...

Tejvan Pettinger Definition of adverse selection: Adverse selection occurs when buyers have better information than sellers, and this can distort the usual market process. It can lead to missing markets as firms do not find it profitable to sell a good. Adverse selection explained A company selling life insurance...