In the intricate world of global economics, 2024 marks a year of significant challenges and profound realignments. As the World Bank forecasts the slowest half-decade of GDP growth in 30 years, nations worldwide, especially emerging markets, face a critical juncture. This first installment of our two-part series delves into the causes and implications of this …
In this three-part blog series, we will embark on a journey through time, comparing the ancient wisdom of Kautilya, an Indian philosopher, economist, and royal advisor, with contemporary economic thought. Today, we’ll explore how Kautilya’s teachings, primarily found in his treatise “Arthashastra,” align with or diverge from the ideologies of Joseph Stiglitz, Esther Duflo, and …
In the realm of modern economics, few names stir as much debate as Thomas Piketty. This French economist rose to prominence with his 2013 book, “Capital in the Twenty-First Century,” which delves into the intricate and contentious issue of wealth and income inequality. But who is Piketty, and why do his ideas matter? Piketty’s Central …
In the world of economics, dominated largely by theories of market failure and state intervention, Elinor Ostrom’s work stands out as a beacon of innovative thought. Ostrom, the first woman to win the Nobel Prize in Economic Sciences, challenged conventional wisdom by demonstrating how local property can be successfully managed by local communities without privatization …
In the intricate landscape of economics, few figures command the influence and intellectual prowess of Joseph E. Stiglitz. From his early academic pursuits to his later roles as a Nobel laureate and global policy advisor, Stiglitz has left an indelible mark on economic thought and policy. Early Intellectual Foundations Born in Gary, Indiana, in 1943, …
In the vast landscape of economics, few figures stand as prominently as Esther Duflo. Renowned for her pioneering work in the realm of development economics, Duflo has left an indelible mark on the field, reshaping the way we approach poverty alleviation and economic policy. Early Life and Academic Journey Born in Paris in 1972, Duflo’s …
In the dynamic world of economics, paradigms often shift, challenging traditional views and ushering in new perspectives. One such revolutionary thinker making waves in recent years is Stephanie Kelton. Renowned for her advocacy of Modern Monetary Theory (MMT), Kelton has been at the forefront of discussions that challenge conventional economic wisdom. Understanding Modern Monetary Theory: …
In the pantheon of economic thought, few figures stand as tall and controversial as Milton Friedman. A Nobel laureate and fervent advocate of free-market capitalism, Friedman’s ideas have stirred passionate debates, leaving an indelible mark on economic policies and ideologies. As we delve into the intricate web of Friedman’s theories, it’s crucial to understand the …
In the grand theater of economic thought, one maestro emerges from the Indian landscape, wielding a baton of compassion and championing the melody of human development – Amartya Sen. In the realm of economics, Sen’s symphony transcends numbers, echoing the profound harmonies of social justice and individual capabilities. The Symphony of Human Development Amidst the …
In the echoing corridors of economic history, one name reverberates with undeniable resonance – John Maynard Keynes. As we navigate the intricate landscape of economic theories, Keynes stands as a titan, reshaping the very foundations of our understanding. The Visionary Voyage Picture this: the early 20th century, a time of economic tumult and uncertainty. Keynes, …
