How does governance affect economic outcomes? Governance is a concept that impinges on our lives every day in a thousand myriad ways. How am I treated when I go to the tax collection agency? Can I cast my vote without interference? How long did it take for the government to build that new road linking my village to the larger market town where I sell my vegetables? If the government decides to change its agricultural support policies, how do my read more
It is little known that Mumbai is home to a small Iranian Shia merchant community, whose roots in the city go back almost 200 years. These businessmen, who form a part of the 2,500 Iranian Shias in Mumbai today, have been less visible than their fellowmen – as also the Irani Zoroastrians – who came after them, but enjoy instant recognition as owners of Bombay’s popular Irani cafés. While the café owners were originally from the smaller towns of Yazd and Kerman read more
Africa’s achievements are often greeted with skepticism. But the operational phase of the African Continental Free Trade Area (AfCFTA) has been commended for its sheer vision and scope. Launched at the 12th extraordinary summit of the African Union (AU) in Niamey, Niger, on 7 July 2019, it has been described as “one of the most emblematic projects of the African Agenda”, “a dream, an old dream… becoming a reality.” What does this project entail and when will this dream materialise? read more
Even though the centre of gravity of global oil trade has shifted from the West to Asia, the oil trade is still managed on Western exchanges. That means prices are set using Western benchmarks (Brent and West Texas Intermediate), and the medium for exchange remains the U.S. Dollar. This anomaly puts Asian countries at a disadvantage that will only grow worse with time as trade becomes increasingly skewed toward Asia. But a solution is within reach: India needs to read more
17 August 2019 - 18 August 2019
India and the world have watched China’s growing investment in Asia and beyond with a mix of awe and apprehension. The unprecedented scale of these investments are reshaping political arrangements around South Asia.
The financialization of the global economy produced the worst financial crisis since the Great Depression. The new arrangements which came into effect due to globalization, came with risks that the hyperglobalists did not foresee, although economic theory could have predicted the downside to globalization just as well as it did the upside.
The apparently disparate themes that Hardeep Singh Puri analyses in this book cohere under his overarching thesis about delusional decision-making and its unexpected consequences, be it Brexit or the rise of populist leaders. His analysis includes an examination of the democratic process, the role of the media and the elusive nature of definitions