The State of India

The malevolent state Yesterday I sat through a 2-hour session on the Indian state. The speaker meticulously laid out the history of its failures, its pervasive interest in encroaching upon our freedoms and the whimsical way it designs public policy. The nub of the argument wasn’t new to me but there was a refreshing candour … Continue reading The State of India

Golmaal Hai, Bhai, Sab Golmaal Hai

Seedhe raste ki yeh tedhi chaal hai Like we discussed yesterday, Trump signed (no, he didn’t use his angutha) the US $2.2 trillion emergency relief bill to support the U.S. economy crippled by the Covid-19 pandemic. Barring a Republican representative (self-avowed libertarian), Thomas Massie of Kentucky, no one in the House of Representatives had any … Continue reading Golmaal Hai, Bhai, Sab Golmaal Hai

Bada Package and A Conradian Heart of Darkness

When $2 trillion isn’t enough A $ 2 trillion emergency relief package was passed by the U.S. senate yesterday. That’s almost 10% of the size of the economy! What’s more, almost everyone believes there will be more coming. The whole package came about in less than a week with detailed bipartisan discussions in the senate … Continue reading Bada Package and A Conradian Heart of Darkness

Chotta Package and Live Free or Die

Badi kathin hai dagar panghat ki Listen, policymaking is tough in normal times. Huge tomes have been written (and not read) yet we get policies wrong. So, anyone working on policy during these times has all my sympathies. To think through possible solutions with so many unknowns while the clock is ticking is really tough. … Continue reading Chotta Package and Live Free or Die

Vacuum, China and a Whatsapp Forward

A world without a leader Being a sincere kid who needed extra-curricular validation, I used to attend essay writing competitions at school. A whole bunch of losers like me would sit down and write on a given topic. ‘Unity in Diversity’ was a favourite. ‘We live in a global village’ was another. This one made … Continue reading Vacuum, China and a Whatsapp Forward

The Twin Problem and China’s Next Steps

The cure can’t be worse than the disease. Really? One reason why the current economic crisis has foxed policymakers and central bankers all over is the ‘twin problem’ challenge confronting them. The ‘second’ problem is easier to solve. Consumer demand is weak in the economy and the government needs to act as the spender of … Continue reading The Twin Problem and China’s Next Steps

The future isn’t what it used to be

There’s always a tendency to overplay the place in history of a particular moment when you are living through it. Their deep scars on the face of time seem permanent then. Of course, they aren’t. Nature wears them down slowly in a battle of attrition that has only one winner.  There’s no Ozymandias and at … Continue reading The future isn’t what it used to be