The Royal Swedish Academy of Sciences has decided to award the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 with one half to David Card "for his empirical contributions to labour economics" and the other half jointly to Joshua Angrist and Guido Imbens "for their methodological contributions to the analysis of causal relationships". Card is the Class of 1950 Professor of Economics at the University of California, Berkeley and Director of the Labor Studies Program at the National Bureau of Economic Research. Angrist is an Israeli American economist and Ford Professor of Economics at the Massachusetts Institute of Technology. Imbens is Professor of Economics at the Stanford Graduate School of Business since 2012. After earning his Ph.D. from Brown University in 1991, he taught at Harvard University, UCLA, and UC Berkeley.
'While the poor have little say in shaping India's intellectual or public discourse, they do have a significant role in deciding political outcomes,' points out Roshan Kishore.
Janet Yellen is guiding the Federal Reserve towards its first rate rise in a decade armed with traditional economic models that some economists worry could fail her in a world of massive money printing and near zero rates.
With India poised to become the largest economy in the world by 2030, it cannot afford to leave half of its workforce behind.
Norman Matloff, professor of computer science at the University of California, Davis, believes that the US has enough highly skilled engineers and raising the cap on H-1B would hamper the wages of senior workers already in the industry.
Israel is no longer the valiant and beleaguered underdog, but increasingly seen as an increasingly arrogant oppressor seeking to crush another old nation under its jackboots, says Mohan Guruswamy.
'How many people have been skilled up and thus able to escape from needing to be in NREGA? The true success of NREGA would lie in its irrelevance -- that is, people no longer need it as a crutch.' 'NREGA should enable them to climb out of poverty and stand on their feet.' 'But this is expressly forbidden by NREGA rules. Skill development, which is what India needs more than anything else, appears to be outside the purview of NREGA,' points out Rajeev Srinivasan.
Read the full transcript of President Obama's State of the Union address on Wednesday at the US Capitol in Washington.
