Economists must think broader – or risk becoming irrelevant

Economists should have taken a more nuanced approach to the row between the US and China. Photograph: Damir Sagolj/Reuters The economics profession took a beating after most of its leading practitioners failed to predict the 2008 global financial crisis and it has been struggling to recover ever since. Not only were the years after the crash marked by unusually low, unequal growth; now we are witnessing a growing list of economic and financial phenomena that economists cannot readily explain. Like the Queen, who famously asked in November 2008 why nobody had seen…

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Loan waiver dole populism not a solution in Jaipur: Economists

The previous BJP government in Rajasthan had announced waiver up to ~50,000 loan for 30 lakh farmers costing the state exchequer ~8,000 crore(HT File) The Congress government’s plans for farm loan waiver and unemployment dole has not found favour with economists who say these are mere populist measures and the government needs to address the root cause of the problem. The government announced Rs 18,000 crore loan waiver for over 40 lakh farmers who have taken loans from cooperative, rural, nationalised and commercial banks. This is 9.1% of the state’s total…

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