A Utopian concept of receiving payment without working By Deputy Editor, Ekanshi Makheja UBI is a government scheme in which every person receives a regular fixed income. It is a scheme that does not require means-testing in the first place, i.e. it is typically intended to reach all with no conditions. It takes different forms [...]
By Annavajhula J C Bose, PhD Department of Economics, SRCC You have graduated in Chicagonomics—Chicago Free Market Economics. And you have interned for long with the centre-right American Enterprise Institute, which is worried about left-wing domination of Humanities and Social Sciences. In contrast, I belong to the neither pro-Left nor pro-Right Heterodox Academy. Our motto [...]
By Annavajhula J C Bose, PhD Department of Economics, SRCC Senior undergrad and Masters students do not like me when I ask them: what is your politics and consequently, what is your economics? Or alternatively, what economics are you doing and what is its politics? Classifying political/social ideas and coherently relating them to economic ideas [...]
By Vedika Sakhardande, Deputy Editor To start with, ponder the following: What is wrong with killing people?Regardless of how you answer this question, you agree on one key assumption: every person has a ‘value’ which must be protected and shielded from harm. But what is the substance and basis for this value? This is a [...]
By Ashmita Chowdhury, Editor-in-Chief In a post-Bretton Woods financial system, the American economist, James Tobin, had popularised the idea of levying tax on currency transactions. In the 1970s, this materialised as the Tobin Tax, a tax levy on short-term currency transactions for curbing speculation and volatility. Whole economic systems can fall prey to the effects [...]
By Shreyanka Pal, Editor-in-Chief The last decade has seen the emergence of various news articles claiming certain persons have purchased a plot of land on the moon. As amusing as that sounds, how does the market for extraterrestrial real estate work? Do they have the same implications as buying land on earth, or is the [...]
By Dipanshu Sharma, Indian Institute of Technology, Delhi and Shreyanka Pal, Miranda House If you’ve spent quarantine trying to finish as many Coursera courses possible to display on your LinkedIn, or if you’ve missed your statistics class in hopes to catch up via a Youtube tutorial, you’ve fallen prey to the edtech industry. But, why [...]
By Devika M, Deputy Editor Lump of labour fallacy is an assumption that there is a fixed amount of work in an economy or that the quantity of labour demanded overall is fixed. This assumption is regarded as fallacious by economists and hence it’s called a fallacy. This fallacy is extremely popular. It is used [...]
Article by Dr. Amit Bhaduri Dr. Amit Bhaduri is former Professor Emeritus, JNU. He has written 6 books and written over 60 papers on various topics in the field of Economics which have been published in standard international journals. This article first appeared in the print edition on July 7, 2020 under the title “The [...]
Dr. Subramanian Swamy is an Indian economist, politician, and lawyer. He is currently serving as a nominated member of Parliament in Rajya Sabha. He received his BA from Delhi University, MS (Mathematical Statistics) from Kolkata, and Ph.D. (Economics) from Harvard University in 1965. He has had a stellar teaching experience at Harvard University and IIT [...]
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