The thesis of Thenuwara’s book is ‘good money’ creates wealth and growth while ‘bad money’ would retard this—an observation made by Copernicus in 1529 A.D. The underlying theme of the book is the need for a Central Bank to conduct an independent monetary policy and thereby keep inflation low, which is essential…
Manas Bhattacharya is a Senior Technical Specialist at the ILO. The book under review is the output of the High-Level Tripartite Meeting on the Nexus of Growth, Investment and Decent Work for South Asian Sub-region, organized by the ILO in 2007. The seven papers in the volume have been contributed by economists from across the South Asian Region…
The inception of the WTO in 1995 was expected to ensure reduction of trade barriers, thereby causing freer movement of merchandise products and commercial services across international borders. However since the failure of the Seattle Ministerial Meeting of WTO in 1999, it was quite clear that the days of trade frictions are far from over…
The Great Recession, which began with the financial crisis of 2007-08, though partially addressed, is still with us. Yet the expectation it generated, that given its severity it would trigger the implementation of measures aimed at reining in finance and pre-empting similar crises in the future, remains largely unrealized…
This year marked the 150th birth anniversary of the Nobel Laureate Rabindranath Tagore that also coincided with six decades of establishment of diplomatic relations between the two major and rising Asian neighbours India and China and the 90th anniversary of the founding of the Communist Parties in both these countries…
One of most serious problems that the ruling elites faced in the ex-colonial and newly independent countries is the integration of ethnic, religious, linguistic and diverse groups living within a territorial state structure created by the colonial masters for their own convenience through their policy of divide and rule…