Finance Minister can’t do much in such matters!
Prices of food items rising, inflation a worry the government most just now! There is now an emerging crisis on the economic front. It is the inflation, rather the rising inflation. The word inflation is a difficult word. We don’t think that except some economist experts like Prime Minister of other professional economists inflation is intelligible. Certainly, a politician like the Finance Minister or any other Minister, the subject would be intelligible only as much as his economic advisers give him what inflation is all about, the measurement and the ways to control it.
One obvious way, the monetary way to control rising prices is to tighten the money supply in the system. But then the monetary approach is only a veil, a way of hiding the harsh economic realities, the market realities is all the general public and the Leftist politicians are concerned with. Whenever there is arise in prices or a runaway price rise in several sensitive commodities like food items, then there is a general hue and cry.
Read More →
This is the time for farmers, farm entrepreneurs!
To invest and make big money in the farm sector!
You have to know the changes in our economic sectors and policies! You have to know the new opportunities. New innovative agri projects are coming up. Almost everyday! So many people ask us, they visit us or talk over the phone and we find almost all of them are so ignorant of how the current agri scene is changing fast.
Only when some big name/names like Sunil Mittal or Reliance announces they enter the agri sector, then the urban press reports. There are hundreds of farmers’ success stories no body reports. Also, there is no idea of what a market means to any average farmer. The new generation farmers, entrepreneurs must know, study the existing markets for farm products, more importantly, the emerging markets, the market potentials, the new market that could be created for several new products and processes. Our focus is primarily to draw new investors, entrepreneurs to the agri sector. Entrepreneurs, from within the farming families or from outside, are now taking interest in investing in many innovative enterprises.
Read More →
It is now an American discipline!
When I studied economics in the late Fifties economics was essentially an English discipline. It is no more! There are not many students now to study economics or do PhDs!It is now more an American discipline. In India economics still has some glamour but things are changing very fast here too. Economics doesn’t give immmediate jobs! In my time it was the British universities, more so the Cambridge University that dominated the discipline.All the bright brains were there. Keynes, his colleagues(list is long) were very around him. There were fierce arguments, about economic theories propounded by Keynes. Economic theory as such was undergoing change since the time of Adam Smith,the first propounder of economics,as a self-driven,wealth creating process. He of course took it from the French Physiocrats. Now in Keynes time it was all theory of equilibrium that explained the balance of economic forces. Prices, demand, supply, fiscal deficit, rate of employment, growth etc. Then Keynes introduced the famous line:”in the long-run we would all be dead”. So he introduced short-term,practical, interventionist ecnomic theory. Amartya Sen is a descendent of this theory only, in spite his taking the theory forward. Sen would be remembered for his contribution to the construction of the Human Development Index. However, since Sen there have been new revolutionary theories of economics that had gone on to win Nobel Prizes. and thus new rcognitions.One is Paul Ormerod who won the Nobel Prize for economics in 1993. Read More →
Private Foreign Universities to enter India
Higher Education in India set to expand?
What about the OBC demands?
To ensure international quality university education, we have to rank the higher education institutions, as they do in the West; identify the Ivy League tables etc. Indian higher education priorities are dictated by the fast growing demand for graduates for the IT/ITes? BPO industry’s furious growth. This in our opinion is a positive development. Gone are the days of educated unemployment, a tag that clanged to the educated youth. Just now we read a book titled” Knowledge Monopolies: The Academisation of Society”. Another book on the same topic:” The Hidden History of Admission and Exclusion at Harvard, Yale and Princeton”.
Read More →
Teach history of ideas, world history of religions!
The recent Mumbai blasts that took such a heavy toll, 8 bombs in 30 minutes, killing 200 people and injuring 500 more, is only the latest reminder, if reminder is needed, for the need for the society at large to deeply introspect on so many ills that make our life so insecure and disturbing. Yes, we are making material progress, making lots of money, the Indian middle class that is vocal and opinion-making and gives a more confident outlook. That is all very encouraging and gives hope.
Yet, what makes for such repeated violence, terrorism of a worst kind that grips the country. There is a commentary the next day of the blasts on why the terrorist attack.” Fallout of city’s extreme politics?” runs the headlines. Then we find that there is indeed such a background to the eruption of the serial blasts. Mumbai’s politics has all the unsavory character we associate with extremist politics.
Read More →