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In the News

Rethinking Economy And Civil Societies: Lessons From Raghuram Rajan’s ‘The Third Pillar’

featuring Raghuram Rajanvia Youth Ki Awaaz
Wednesday, December 4, 2019

I just finished reading the book “The Third Pillar” authored by Raghuram Rajan. As expected, the book has enriched me with significant insight into the subject. I am here just to give you all a glimpse of the book. It revolves around three pillars—state, market and community, and “community” is the third pillar. Rajan’s sole intent in writing this book is to explain the disturbance, harmony, and cooperation among these three, and make the readers see the solution for global problems in balancing of these pillars.

In the News

Raghuram Rajan: India In Growth Recession; Extreme Centralization Of Power In PMO Not Good

featuring Raghuram Rajanvia CNBC
Saturday, December 7, 2019

Former Reserve Bank of India (RBI) governor Raghuram Rajan said India is in the midst of a "growth recession" with signs of deep malaise in the Indian economy that is being run through extreme centralization of power in Prime Minister's Office and powerless ministers.

In the News

Booming US Economy May Soon Be The ‘Strongest Since 1999‘, Kevin Warsh Says

quoting Kevin Warshvia Denton Daily
Saturday, December 7, 2019

President ‘s corporate tax cut and his business deregulation efforts are not just an economic “sugar high,” former governor Kevin Warsh argued on CNBC Thursday. Most economists “never thought the economy could grow this fast,” said Warsh, who had been on the president‘s short-list for Fed chairman before was chosen.

In the News

Supreme Court Will Study Whether States May Require Partisan Balance For Courts

quoting Michael McConnellvia SF Gate
Friday, December 6, 2019

The Supreme Court will consider whether states may require courts to be largely balanced with members of the major political parties, it announced Friday. The case comes from Delaware, where the state Constitution requires its highest courts to have no more than a bare majority of judges from one political party. For instance, the state's supreme court must be made up of three members of one party, and two of the other.


Mapping The Digital Economy In 2020

by Chen Long, Michael Spencevia Project Syndicate
Friday, December 6, 2019

In today’s globalized world, falling behind technologically carries major costs. That is why the world need a comprehensive understanding of the digital revolution’s effects on individual and social welfare as soon as possible.


Black Friday And American Soft Power

by Josef Joffevia The American Interest
Friday, December 6, 2019

Why do Europeans resent America, even as they continue to copy it? Never mind Donald Trump. The United States is the steamroller of modernity that invents stuff, ideas, and images the world cannot resist.

In the News

Germany’s Crisis Has Been Averted. But At What Cost?

quoting Timothy Garton Ashvia The Washington Post
Friday, December 6, 2019

What a way to climb down. And how very German. Having promised revolution one week, Germany’s Social Democrats called it off the next, hoping that nobody would take much notice. As so often in contemporary German politics, rupture was averted for the sake of stability, open conflict exchanged for suppressed frustration, movement foregone for stasis.


‘Dream-Team’ Redux?

by Victor Davis Hansonvia National Review
Friday, December 6, 2019

There was a lot of pre-hearing hype about the Democrats’ supposedly stellar academic experts, sort of analogous to the giddiness about the “dream team,” “all-stars,” and “hunter-killer” legal eagles that Robert Mueller supposedly had assembled to pick apart the Trump carrion — and they likewise proved a complete dud.


Whom And What To Blame For Kamala Harris’ Collapse

by Bill Whalenvia Forbes
Thursday, December 5, 2019

I purposely waited a couple of days before opining on the demise of California Sen. Kamala Harris’ presidential campaign for two reasons: I wanted to see how she’d spin her failure; and I wanted to see what if any impact her decision had on the remainder of the presidential field.

Analysis and Commentary

The Assault On Wealth

by David R. Hendersonvia EconLog
Thursday, December 5, 2019

As noted above, I don’t accept that behind every fortune, or even most fortunes, is a great crime. Interestingly also, neither does the main economist who got the ball rolling on wealth taxes earlier this decade. The economist who, more than any other, made attacks on the wealthy more generally respected, is Frenchman Thomas Piketty.