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Analysis and Commentary

Was USAID Behind Indian Government's War On Cash?

by David R. Hendersonvia EconLog
Thursday, January 12, 2017

On November 8, Indian prime minster Narendra Modi announced that the two largest denominations of banknotes could not be used for payments any more with almost immediate effect. Owners could only recoup their value by putting them into a bank account before the short grace period expired at year end, which many people and businesses did not manage to do, due to long lines in front of banks.

Analysis and Commentary

India's Assault On Money

by David R. Hendersonvia EconLog
Friday, November 11, 2016

In our 5-minute discussion in class on Wednesday, a student asked me about the implications of the Indian government's crackdown on people holding high-denomination currency. I didn't know much about it and gave a so-so answer. Now I know more.

In the News

Sorry, Donald Trump: The U.S. Can’t Grow Like India And China

mentioning Michael Spencevia The Washington Post
Friday, October 21, 2016

In the debate on Wednesday night, Donald Trump compared America’s lackluster economic growth to that of India and China. For the United States, the comparison didn’t look good.

In the News

The Reserve Bank Of India's New Neutral Rate

quoting John B. Taylorvia Live Mint
Thursday, October 13, 2016

The central bank is lowering the policy rate despite its relatively pessimistic assessment of inflationary pressures.

In the News

How Dhoni Became A Symbol Of India, And Everything That Now Means

quoting Tunku Varadarajanvia Daily Mail (UK)
Thursday, September 29, 2016

It was during the 2016 ICC World Twenty20 that the news really hit the cricketing world: ‘They're making MS Dhoni, the movie?’ a tweet read.


Tunku Varadarajan On The John Batchelor Show

interview with Tunku Varadarajanvia The John Batchelor Show
Thursday, September 22, 2016

Hoover Institution fellow Tunku Varadarajan discusses his Wall Street Journal article From "Buddha To Bollywood."

Analysis and Commentary

From Buddha To Bollywood

by Tunku Varadarajanvia The Wall Street Journal
Tuesday, September 20, 2016

A similar book about America—“The United States in 50 Lives,” as it were—would be awash with entrepreneurial names. But in India, capitalists have been like moneyed underlings.


Larry Diamond Talks About Democracy In Decline Around The Globe On WNYC

interview with Larry Diamondvia WYNC
Tuesday, September 20, 2016

Hoover Institution fellow Larry Diamond talks about how the the early years of the 21st century might be viewed historically as the beginning of the decline of democracy itself. Through his research, Diamond has found that 27 countries experienced a breakdown in democracy between 2000 and 2015, while authoritarian governments have become increasingly emboldened and locked down. Democracy, Diamond notes, seems to have lost its appeal.

In the News

Did We Help Raghuram Rajan?

quoting Kevin Warshvia Live Mint
Tuesday, September 6, 2016

Experts ought to know how to disagree on policy matters in private and cheer and endorse policy decisions in public.

In the News

A Skill Is Worth More Than A Degree On Paper

quoting Michael Spencevia Economic Times (India)
Friday, September 2, 2016

The value of something is shown by demand: 23 lakh candidates (including 2.22 lakh engineers and 255 PhD holders) applied for the 368 vacant peon posts in Uttar Pradesh recently. Some of this excess demand represents the above-market wages and job security of government jobs but most of it is just the unemployability of the educated.