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Whose decision is it anyway

Fairy tale capitalism

April 24, 2014 3:11 am

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Cabinet system of governance

was eroded in UPAs tenure.
Modis challenge will be to
restore credibility of key
decision-making bodies.

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BUSINESS AS USUAL BY E.P UNNY

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Pikettys work
underscores need to
address its
legitimacy amid
growing inequality.
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Piketty clearly recognises that there are powerful forces that can mitigate inequality.

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By: Mihir Shah

AAP Ka Lokpal

Pikettys work underscores need to address its legitimacy amid

growing inequality.

Away From The arthouse

Dear Supreme Court,read
The Kama Sutra

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Wed May 21 2014

Whose decision is it anyway

The cabinet system of
governance was eroded in
UPAs tenure. Modis
challenge will be to restore
credibility of its key
decision-making bodies.

Opposition without a head

A strength of 10 per cent of

As students of economics, we are quite used to being told fairy tales.

The most famous one is the Invisible Hand of Adam Smith. Another
fairy tale, not as well-known, is the Kuznets Curve. The name derives
(rather unfairly as we shall see) from the Belarusian-American 1971
Nobel Prize winning economist, Simon Kuznets. So goes the tale: the
natural progression of development is towards industrialisation and
urbanisation. Initially, this leads to increased inequality in society, as
capitalists get richer and the influx of rural labour holds wages down.
But as employment opportunities grow and the flow of rural labour
dries up, wages rise and an equalisation tendency appears, which
gets stronger over time. Thus, if we plot inequality against time, we get
an inverted-U or bell-shaped curve, the Kuznets Curve. If this
hypothesis were true, it would show that the trickle down of the
benefits of growth to all is a natural and automatic part of capitalist

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03:21 pm, May 21, 2014

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