Economics

Why the mathematics used in economics for decades needs a rethink

India’s marine exports under severe threat, post Trump tariffs

The negotiations for a trade agreement with the US are not going to be easy. In India, there is great concern that opening of agriculture sector for import from US will adversely impact the livelihood of a vast majority of farmers and those who depend on the agricultural operations. Our policy makers will do well not to downplay the threat posed by the tariff of 26 percent tariff on Indian goods

Can traditional Indian knowledge secure the future of ‘economics’?

Sanghnomics: Hindu economics, rooted in ancient Indian texts like the Vedas and Arthashastra, offers unique insights into abundance, market regulation, and fair trade. With a focus on self-employment, wage fairness, and consumer protection, it presents a potential solution to modern economic crises 

Opinion: A counterview on the economic legacy of Manmohan Singh

Dr. Manmohan Singh has always been described as the great reformer of 1991.

A new currency tries to defy conventional wisdom

The world’s newest currency, Caribbean Guilder, is the outcome of a currency union between two countries with different economic structures and a sharp disparity in income. The underlying economic conditions are far removed from the ideal scenario for such a union. The journey of the Caribbean Guilder will be followed with interest

Decoding Economics: The power of narratives

An NBER research paper says narratives may be a significant cause of the business cycle

Forget macro and micro, it’s mesoeconomics that matters

Understanding networks properly will help us to better grasp how the economy actually works

Why political parties need to start talking about ‘Hindu economics’

Sanghnomics: Many western economists and thinkers have also highlighted the failure of the western model of development

Year Ender 2023: 15 must-read books on business, economics and management

Business storytelling might be stylistically and structurally different. But here’s a list of 15 books released this year that defy limitations, covering an array of topics, from cryptocurrency to ‘climate capitalism’ and surveillance, and will appeal to a wider readership.

Raghuram Rajan recalls Princeton student pitching for free work. A decade later, this happened

Raghuram Rajan wrote, 'I met Dr. Rohit Lamba over a decade ago, when I was India's Chief Economic Advisor, and he wrote to me as a Ph.D student from Princeton, wanting to work for free in the Finance Ministry just to make a contribution to the nation.'

Indian-American Economist Raj Chetty awarded top Harvard University prize

Raj Chetty said he became interested in this work because of his own background coming to the US from India with his parents when he was 9 years old.

Adam Smith’s University of Glasgow years were his life’s ‘most useful, happiest & honourable period’

In his tercentenary, the man remains a prominent presence on the University of Glasgow campus — his name on the University’s Memorial Gate, the Adam Smith Chair in Political Economy, the triple-accredited Adam Smith Business School, and stories of him as a student and teacher.

Was Adam Smith’s ‘invisible hand’ a precursor to Artificial Intelligence?

IMF’s Gita Gopinath, in a speech, cites that if AI leading to productivity growth, which determines the wealth of nations, would have pleased Adam Smith, AI’s potential impact of job losses and fake news deepening social divide would have deeply troubled him.

Book excerpts: What Adam Smith said about India and East India Company in The Wealth of Nations

Missed the lesson on Adam Smith at school? Here are the best bits of what he wrote about India in his seminal work, The Wealth of Nations.

Adam Smith is still relevant. But not for the reasons they taught us in school and college

Adam Smith was no free market apologist. He recognized the discontents of liberal capitalism: That the employers wield more power than the workers. That ‘division of labour’ is limited by the ‘extent of the market’. That is, technological progress by itself cannot drive economic growth. That ‘division of labour’ is often repetitive work that has negative consequences on their cognitive capacity.

Travel in the footsteps of Adam Smith in his tercentenary year

Adam Smith was born in 1723 in Kirkcaldy, a small port in Scotland. He attended university at Glasgow and Oxford, and then lived in Edinburgh till his death in 1790.

Stocks gain, gold jumps on Goldilocks economic outlook

Gold zoomed to a 13-month high and the dollar weakened after the data lowered expectations that the Fed will again raise rates in May and brought relief to investors worried that tight monetary policy could provoke a U.S. recession.

Moneycontrol Selects: Top stories this evening

Our specially curated package of the big stories to help you stay at the top of your game.

India offers Taliban officials a course in economics, leadership

New Delhi doesn’t formally recognize the Taliban government, that seized power in 2021 in the wake of the US exit from Afghanistan.

Why half-truths can be more dangerous than outright lies, argues Devina Mehra

When looking at data presented by anyone else or even by yourself, check not just whether it is technically correct but what it leaves out.

'National-level conversations mask high degree of variation of growth and access at regional level'

Tata Trusts' Poornima Dore and IIT Bombay Economics Professor K. Narayanan on why businesses pick one region over another, and specialization vs diversification as growth strategy for a region.

All of the previous Economics Nobel winners: Mostly Americans, only two women laureates

But the first-ever Nobel Prize in Economics in 1969 went to Ragnar Frisch of Norway and Jan Tinbergen from Netherlands.

India, Singapore hold ministerial meeting; discuss fintech, regulatory cooperation

During a ministerial roundtable on Saturday, India and Singapore addressed fintech, investment prospects, and regulatory cooperation among other topics.

Indian Oil Corp unit to open 50 fuel stations in Sri Lanka to help alleviate crisis

Sri Lanka is caught in its worst financial crisis in more than 70 years as a shortage of foreign exchange has left it struggling to pay for essential imports of food, medicine and, critically, fuel.

In Russia’s war, China and India emerge as financiers

Buying cheap oil from Russia offers economic and political advantages, but undercutting the West’s efforts to isolate the Kremlin risks serious diplomatic fallout that neither country wants. China has avoided overtly supporting Russia’s war in public statements, and India has portrayed itself as neutral