'In the 1990s after we ushered in reforms, Paul Samuelson wrote me a letter expressing happiness that "at last, India has discovered economic growth."'
There remains a debate on who said this: "When the facts change, I change my mind. What do you do, Sir?" Was it the British economist John Maynard Keynes or the American economist Paul Samuelson. Irrespective of who said it, this sentiment appears to have found resonance in ITC's boardroom in recent years.
A 360-degree view of the man, his family and his pioneering work on education.
A 360-degree view of the man, his family and his pioneering work on education.
Prime Minister Manmohan Singh joined former Russian Premier Yegor Gaidar and Nobel laureates on Thursday to compliment Padma Desai, described as 'An economist's economist' by Nobel laureate Paul Samuelson.
MIT, in a release, said the 'work of Duflo and Banerjee has emphasised the use of field experiments in research, to bring the principles of laboratory-style randomised, controlled trials to empirical economics'.
No new ideas, please, we are Indian. Seventeen years into the 21st century, we are still fixated by the ideas of the 20th century.
Though Narendra Modi doesn't know it, he is a victim of this deep-rooted infection.
India's freedom, its rambling but working Constitution, its parliamentary democracy, its lumbering administrative machinery all have many a father, but its greatest claim to fame, especially today, that of being a modern state, is due to but one person: Its first and longest-serving prime minister, Nehru, says Shreekant Sambrani.
PM Modi must revive investment sentiment in the country.
Mrinal Datta Chaudhuri, MDC to his students, was beyond compare -- the stuff of tales and legends at the Delhi School of Economics. He was also a good intuitive economist.
'... for two reasons: the poor quality of education, and the low rate of female participation in the labour force.' 'Unless something is done quickly to remedy these problems, India will just have a large population of low-skill, low-wage, males trying and failing to feed their families adequately.'
'What is forgotten but is actually as important for a society's long run success is morality.' 'Morals and trust are the nuts and bolts of an economy.' 'Without those you can get short run success, but not long-run development.'
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