Quote of the day: Thomas Piketty warns that ignoring economic data often harms poor and middle-class fami ...More

Quote of the day: Thomas Piketty warns that ignoring economic data often harms poor and middle-class families the most. In today’s world of rising inflation, wealth inequality, housing pressure, and falling purchasing power, numbers matter more than opinions. The writer of Capital in the Twenty-First Century argues that facts, wages, taxes, and income trends reveal how modern capitalism truly works. His famous quote is not only about statistics. It is about fairness, truth, and survival in a changing global economy. ...Less

Quote of the day by Richard Feynman: Richard Feynman quote on self-deception still shapes modern thinking ...More

Quote of the day by Richard Feynman: Richard Feynman quote on self-deception still shapes modern thinking, leadership, science, and personal growth. “The first principle is that you must not fool yourself” feels urgent in today’s misinformation era. The Richard Feynman quote teaches intellectual honesty, critical thinking, self-awareness, and truth over ego. People often fear reality more than failure itself. ...Less

Quote of the day by Noam Chomsky: The quote challenges the common belief that poverty is unavoidable. It ...More

Quote of the day by Noam Chomsky: The quote challenges the common belief that poverty is unavoidable. It argues that broken economic systems, unequal wealth distribution, corruption, and policy failures often create suffering even in resource-rich nations. As global inequality widens and living costs rise, Chomsky’s words continue to spark debate about whether poverty is truly natural—or largely man-made through failed governance and concentrated wealth. ...Less

As fortune is inherited more than earned, economist Thomas Piketty says that wealthy parents might face a ...More

As fortune is inherited more than earned, economist Thomas Piketty says that wealthy parents might face a problem. ...Less

Economist Thomas Piketty, who recently attended the Jaipur Lit fest was treated to delectable Rajasthani ...More

Economist Thomas Piketty, who recently attended the Jaipur Lit fest was treated to delectable Rajasthani delicacies at the sit-down dinner. ...Less

Thomas Piketty, the French economist whose best-selling book has added tinder to the debate on income ine ...More

Thomas Piketty, the French economist whose best-selling book has added tinder to the debate on income inequality, counts the world’s richest person among his fans. ...Less

Why does the rise of crorepatis cause poverty to increase? Much of their wealth gains are due to property ...More

Why does the rise of crorepatis cause poverty to increase? Much of their wealth gains are due to property and stock market booms, which do not translate into greater employment opportunities. Worse, these gains accrue at the expense of those at the bottom of the wealth ladder. The distributions of wealth and power also affect the allocation of investment opportunities. ...Less

“It is not enough to have tax cuts for businesses; you also need to build a system so the poorest have ad ...More

“It is not enough to have tax cuts for businesses; you also need to build a system so the poorest have adequate income support,” Thomas Piketty told Times Now in an exclusive interview with its editor-in-chief Rahul Shivshankar on Thursday. ...Less

When researchers announced that chocolate makes people smarter, the world happily rushed out to get smart ...More

When researchers announced that chocolate makes people smarter, the world happily rushed out to get smarter in the sweetest possible way. ...Less

India needs to come out with a basic income scheme to make the lockdown work, Thomas Piketty said. ...More

India needs to come out with a basic income scheme to make the lockdown work, Thomas Piketty said. ...Less

India's unicorns were started by bright young guys with no biz or political links, no inherited wealth. ...More

India's unicorns were started by bright young guys with no biz or political links, no inherited wealth. ...Less

Does wealth really remain in the same families for generations? ...More

Does wealth really remain in the same families for generations? ...Less

The gap between the forward and other castes is becoming wider over the years, according to a World Inequ ...More

The gap between the forward and other castes is becoming wider over the years, according to a World Inequality Database study. ...Less

The economists and academicians who issued the statement, include A Vaidyanathan and Abhijit Sen (former ...More

The economists and academicians who issued the statement, include A Vaidyanathan and Abhijit Sen (former members of erstwhile Planning Commission), Biswajit Dhar (JNU), Dilip Mookherjee (Boston University), Maitreesh Ghatak (LSE), Prabhat Patnaik (Emeritus Professor, JNU), and Thomas Piketty (Paris School of Economics). ...Less

French economist Thomas Piketty advocated for a global wealth tax to fund climate reparations, especially ...More

French economist Thomas Piketty advocated for a global wealth tax to fund climate reparations, especially for countries like India significantly impacted by climate change. He urged India to lead this effort and address inequality through progressive taxation and policy changes, rather than relying solely on economic growth. He also cautioned against the risks of privatizing AI knowledge. ...Less

I have always believed that it is none of my business how much the Ambanis earn as long as they create lo ...More

I have always believed that it is none of my business how much the Ambanis earn as long as they create lots of jobs, pay their taxes and produce wealth for society. ...Less

Thomas Piketty, guru of inequality, and Lucas Chanel have produced a new paper “Indian Income Equality, 1 ...More

Thomas Piketty, guru of inequality, and Lucas Chanel have produced a new paper “Indian Income Equality, 1922-2014: from British Raj to Billionaire Raj?” ...Less

This year, Capital in the Twenty-First Century by Thomas Piketty took home the "Business Book of the Year ...More

This year, Capital in the Twenty-First Century by Thomas Piketty took home the "Business Book of the Year" award. Here are some of the greatest & most influential business books out there. ...Less

“Capital and Ideology’’ ranges across time, and has references to India, China and Brazil. ...More

“Capital and Ideology’’ ranges across time, and has references to India, China and Brazil. ...Less

Most people I talked to sounded philosophical, even optimistic. They were fiercely proud to be Greek — th ...More

Most people I talked to sounded philosophical, even optimistic. They were fiercely proud to be Greek — that’s it. ...Less

A World Inequality Lab study recommends India implement a wealth tax on the ultra-rich to combat wealth i ...More

A World Inequality Lab study recommends India implement a wealth tax on the ultra-rich to combat wealth inequality and boost social sector investments. Proposed measures include a 2% annual tax on wealth over Rs 10 crore and a 33% inheritance tax on estates exceeding the same value. Authors emphasize the need for progressive taxation to address extreme wealth disparity. ...Less

Using tax data for the rich and survey data for the non-rich compounds the illusion. Using tax data for t ...More

Using tax data for the rich and survey data for the non-rich compounds the illusion. Using tax data for the rich and survey data for the non-rich compounds the illusion. ...Less

Tax small savings, raise LPG price, more tax on gold purchase, increase fares on air travel and AC railwa ...More

Tax small savings, raise LPG price, more tax on gold purchase, increase fares on air travel and AC railway coaches — these are among the suggestions. ...Less

Mathematician Jordan Ellenberg proposed this index to measure bestselling books that people do not manage ...More

Mathematician Jordan Ellenberg proposed this index to measure bestselling books that people do not manage to finish. ...Less

As per the Hurun report, as of July 2018, India has 831 people with a wealth of Rs 1,000 crore or more. ...More

As per the Hurun report, as of July 2018, India has 831 people with a wealth of Rs 1,000 crore or more. ...Less

Dr Arvind Subramanian, who recently delivered the third annual Literature Live! Independence Lecture in M ...More

Dr Arvind Subramanian, who recently delivered the third annual Literature Live! Independence Lecture in Mumbai, on his favourite non-academic reading. ...Less

We suggest a few economists pick up the ladle with one hand and a pen with the other and leave their mark ...More

We suggest a few economists pick up the ladle with one hand and a pen with the other and leave their mark in the gastronomic field. Jean Drèze should, for instance, call out Thomas Piketty and insist that ‘French fries’ are closer to Belgian friterie than the French (pommes) frites. ...Less

A literature festival in the financial capital of the country will be incomplete without a conversation o ...More

A literature festival in the financial capital of the country will be incomplete without a conversation on economy. Stop by these handpicked sessions for your fill of both. ...Less

Those who read Prime Minister Narendra Modi's election victory in 2014 as a vote for more reform of the s ...More

Those who read Prime Minister Narendra Modi's election victory in 2014 as a vote for more reform of the sort that India had seen since 1991 were grievously mistaken. ...Less

Inventory/sales ratio in US is rising which is always followed by a slowdown or recession ...More

Inventory/sales ratio in US is rising which is always followed by a slowdown or recession ...Less

The growth rate in October-December helped take the estimate for the current fiscal to 7.6 per cent. "We ...More

The growth rate in October-December helped take the estimate for the current fiscal to 7.6 per cent. "We should not attempt to grow this economy by anything more than what it is growing now. "If the external environment does not dramatically improve, because what will happen then, is that our external accounts will begin to overheat, our inflation will begin to overheat and so on," Sanyal said. ...Less

Political empowerment is the first key ingredient of poverty removal. People with political agency will d ...More

Political empowerment is the first key ingredient of poverty removal. People with political agency will demand and obtain education and healthcare. It will also erode the structural inequality and sectarian divides in society. Social cohesion and individual agency together make for broad-based growth that emancipates. ...Less

The magical Kuznets curve theory was formulated in large part for the wrong reasons, and its empirical un ...More

The magical Kuznets curve theory was formulated in large part for the wrong reasons, and its empirical underpinnings were extremely fragile. ...Less

The distribution of wealth is one of today’s most-widely-discussed and controversial issues…. Let me say ...More

The distribution of wealth is one of today’s most-widely-discussed and controversial issues…. Let me say at once that the answers contained herein are imperfect and incomplete. ...Less

True equality is not just equality of income. It is also, crucially, about equality of opportunity, somet ...More

True equality is not just equality of income. It is also, crucially, about equality of opportunity, something sorely missing in India. ...Less

Dive into the top issues troubling society, from gender equality to privacy rights. ...More

Dive into the top issues troubling society, from gender equality to privacy rights. ...Less

Airlines like Etihad, Emirates and Singapore have introduced first class suites while flat beds have beco ...More

Airlines like Etihad, Emirates and Singapore have introduced first class suites while flat beds have become almost the norm in business cabins. ...Less

The paper titled 'Proposals For a Wealth Tax Package to Tackle Extreme Inequalities in India' propose a c ...More

The paper titled 'Proposals For a Wealth Tax Package to Tackle Extreme Inequalities in India' propose a comprehensive tax package on the ultra-wealthy to tackle the massive concentration at the very top of the wealth distribution and create valuable fiscal space for crucial social sector investments. ...Less

Parisians have voted to impose special parking fees on SUVs, the go-to motor vehicle for the wealthy, in ...More

Parisians have voted to impose special parking fees on SUVs, the go-to motor vehicle for the wealthy, in an effort to cut down air pollution and mitigate climatic damage. The decision was made by 54.6% of voters, who believe that SUVs should pay three times the parking fee of standard cars. Some critics, such as lobby group 40 Millions d'Automobilistes, argue that this is the work of an 'ultra-urban and anti-car minority'. ...Less

With not many retiring employees opting for PM’s pet initiatives like ‘Sankalp’ and ‘Anubhav’ — the forme ...More

With not many retiring employees opting for PM’s pet initiatives like ‘Sankalp’ and ‘Anubhav’ — the former involves signing up for voluntary work and latter leaving a note on one’s achievements in service. ...Less

Central banks, independent of governments, must ensure a stable currency for transactions among market pa ...More

Central banks, independent of governments, must ensure a stable currency for transactions among market participants, and then let markets set prices for everything, including wages (which for the majority of people is their only income). ...Less

As individuals age, their materialistic pursuits tend to yield to religious beliefs and practices.Women a ...More

As individuals age, their materialistic pursuits tend to yield to religious beliefs and practices.Women are often inclined to be more religious than men, presumably because of their greater vulnerability to violence within and outside the home, and economic insecurity. ...Less

In 2014 Lok Sabha polls, more than 60% of Brahmin and nearly 50% other forward caste voters supported BJP ...More

In 2014 Lok Sabha polls, more than 60% of Brahmin and nearly 50% other forward caste voters supported BJP/other right-wing parties. ...Less

French economist Thomas Piketty urged India to increase taxes on its super-rich, citing rising inequality ...More

French economist Thomas Piketty urged India to increase taxes on its super-rich, citing rising inequality. He proposed a wealth tax and inheritance tax, potentially generating significant revenue. India's chief economic adviser opposed the idea, while recent data revealed substantial growth in billionaire wealth. ...Less

While Leo Messi's India tour proceeded smoothly in Hyderabad and Mumbai, Kolkata's event descended into c ...More

While Leo Messi's India tour proceeded smoothly in Hyderabad and Mumbai, Kolkata's event descended into chaos. Spectators, denied a view of the star due to VIP segregation, reacted with anger and property destruction, leading to Messi's early departure. This stark contrast highlighted a breakdown in the transactional contract between organizers and paying fans. ...Less

A new study co-authored by economist Thomas Piketty suggests India should impose a wealth tax on the ultr ...More

A new study co-authored by economist Thomas Piketty suggests India should impose a wealth tax on the ultra-rich to tackle inequality. Anmol Somanchi, one of the authors, emphasizes the need for progressive wealth taxation and social sector investments. ...Less

Piketty also sheds new light on the 'reforms' sold by Ronald Reagan and Margaret Thatcher in the 1980s as ...More

Piketty also sheds new light on the 'reforms' sold by Ronald Reagan and Margaret Thatcher in the 1980s as growth enhancers from which all would benefit. ...Less

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"The Congress president is setting up a 'task force on national security' to prepare a vision paper for t ...More

"The Congress president is setting up a 'task force on national security' to prepare a vision paper for the country," a party source said. ...Less

Zuckerberg has embarked on a quest to read more this year and urged his followers to join in. Well, if th ...More

Zuckerberg has embarked on a quest to read more this year and urged his followers to join in. Well, if these celebrities are wondering what to begin with, we’ve got it covered. ...Less

We've put together a list of 6 books which will allow you to step inside the minds of game changers and g ...More

We've put together a list of 6 books which will allow you to step inside the minds of game changers and give you a glimpse into their genius. ...Less

Princeton's Professor Owen Zidar highlights the rise of 'stealthy wealthy' private business owners in Ame ...More

Princeton's Professor Owen Zidar highlights the rise of 'stealthy wealthy' private business owners in America, contributing to growing inequality. Trump's tax cuts disproportionately benefit these owners, while assistance for the poor is reduced. Zidar suggests investing in the young for future prosperity, questioning the effectiveness and advisability of tariffs as a revenue source. ...Less

While the US has the highest number of millionaires in the world, China is actually creating millionaires ...More

While the US has the highest number of millionaires in the world, China is actually creating millionaires at a faster clip than US. ...Less

It’s a nod to Stephen Hawking’s A Brief History of Time, a book everybody wants to have read but hardly a ...More

It’s a nod to Stephen Hawking’s A Brief History of Time, a book everybody wants to have read but hardly anyone actually finished. ...Less

India's wealth inequality is at a six-decade high with the top 1% owning 40.1% of wealth. Foreign investm ...More

India's wealth inequality is at a six-decade high with the top 1% owning 40.1% of wealth. Foreign investments led to a surge in billionaires post-1992. PM Modi's tenure saw a widening rich-poor gap amid rapid economic growth. ...Less

The panel is expected to focus on growth and inequality. ...More

The panel is expected to focus on growth and inequality. ...Less

For the past decade, the Financial Times has been gathering judges from Wall Street and Silicon Valley to ...More

For the past decade, the Financial Times has been gathering judges from Wall Street and Silicon Valley to determine the year's best business book. ...Less

Chief Economic Advisor V Anantha Nageswaran emphasized considering upward mobility alongside inequality w ...More

Chief Economic Advisor V Anantha Nageswaran emphasized considering upward mobility alongside inequality when analyzing economic progress. He cautioned against fixating solely on inequality, citing a survey revealing substantial upward movement across income classes in India, despite headlines focusing on the rich getting richer. ...Less

Rahul Gandhi vows wealth redistribution if Congress wins, proposing a census to assess population and bac ...More

Rahul Gandhi vows wealth redistribution if Congress wins, proposing a census to assess population and backward caste status, followed by wealth survey. Economic inequality, rising since the 1990s in India, prompts global concern. Progressive tax systems and cash transfer programs aim at redistribution, akin to models in Finland, Sweden, and the USA. ...Less

On October 1, more than 300 people belonging to multiple groups including Tibetan associations, the Uyghu ...More

On October 1, more than 300 people belonging to multiple groups including Tibetan associations, the Uyghur association of France, South Mongolians, Falange Gong, Hong Kong dissidents and Taiwanese gathered at the Trocadero square near the Eiffel Tower in Paris to protest against the human rights violations of the Chinese State and join the global call for resistance against the Chinese Communist Party. ...Less

Jairam Ramesh said the share of national income earned by India's top 1 per cent is now at its highest hi ...More

Jairam Ramesh said the share of national income earned by India's top 1 per cent is now at its highest historical levels and is among the highest globally. The rise of top-end inequality has been particularly pronounced between 2014 and 2023, which corresponds to the "dus saal anyay kaal' and the Modi government's policies have directly caused this perverse growth through three methods -- enrich the rich, impoverish the poor and hide the data, he said. ...Less

The report - World Inequality Report - has put three other countries, North America, China and Russia in ...More

The report - World Inequality Report - has put three other countries, North America, China and Russia in the same category. ...Less

In an interview with TOI, IMF's first deputy managing director Gita Gopinath expressed support for a prog ...More

In an interview with TOI, IMF's first deputy managing director Gita Gopinath expressed support for a progressive tax structure. She emphasized the importance of improving the implementation of existing capital income and property taxes but noted that wealth taxes present additional challenges, such as the complexity of taxing personal assets like homes. ...Less

The extent to which capitalism has veered away from its embedded principles of meritocratic, problem solv ...More

The extent to which capitalism has veered away from its embedded principles of meritocratic, problem solving, wealth and ownership creating economic structure, to a highly efficient & regenerative mechanism of severe concentration of wealth and power - lends many to worry that capitalism is astray for long now. ...Less

The new law is to replace the existing Income Tax Act, 1961. ...More

The new law is to replace the existing Income Tax Act, 1961. ...Less

A 2018 Gallup World Poll survey of India asks the question, 'Can people get ahead in this country by work ...More

A 2018 Gallup World Poll survey of India asks the question, 'Can people get ahead in this country by working hard?' The answer lies in the responses by age, gender, income, schooling, caste, religion and other factors like corruption, crime, whether the state government is ruled by the BJP, extreme inequality akin to Thomas Piketty's measure - ratio of share of the bottom 50% in total income to that of the top 1% - and state affluence. ...Less

The event witnessed a hint of controversy with the Rajasthan High Court today hearing a PIL that sought f ...More

The event witnessed a hint of controversy with the Rajasthan High Court today hearing a PIL that sought for a change in the venue. ...Less

The Times Lit Fest’s Mumbai edition, that concluded over the weekend, featured speakers from varied backg ...More

The Times Lit Fest’s Mumbai edition, that concluded over the weekend, featured speakers from varied backgrounds, leading to deep conversations, yet light moods. ...Less

The number of ultra-high networth households in the country, which represents those with a networth of ov ...More

The number of ultra-high networth households in the country, which represents those with a networth of over Rs 25 crore or more, has grown 12 per cent to over 1.60 lakh in 2017, while their collective networth grew only 5 per cent at Rs 153 trillion, said the study. ...Less

A wide range of economists are voicing alarm over President Donald Trump's steep tariffs on imports into ...More

A wide range of economists are voicing alarm over President Donald Trump's steep tariffs on imports into the United States, sparking a trade war that experts say could tip many countries into recession. - 'Malignant stupidity' - Paul Krugman, the Nobel economics prize laureate, said the United States was essentially the founder of the modern trade system that had led to lower tariffs over the past decades. ...Less

The reports show that between 1980 and 2014, income of top 0.1% income earners in France and China rose s ...More

The reports show that between 1980 and 2014, income of top 0.1% income earners in France and China rose six times faster than the income of bottom 50%. ...Less

The Indian economy will grow 6.7% in FY18 against 7.2% estimated earlier, according to the latest edition ...More

The Indian economy will grow 6.7% in FY18 against 7.2% estimated earlier, according to the latest edition of the IMF’s flagship World Economic Outlook. ...Less

"Top 1% of earners captured less than 21% of total income in the late 1930s, before dropping to 6% in ear ...More

"Top 1% of earners captured less than 21% of total income in the late 1930s, before dropping to 6% in early 1980s and rising to 22% today," said a reserarch paper ...Less

The developed country angst about inequality stirred by Thomas Piketty’s book Capital in the Twenty-First ...More

The developed country angst about inequality stirred by Thomas Piketty’s book Capital in the Twenty-First Century is irrelevant for India. ...Less

The Gallup World Poll Survey (2019-23) revealed a rise in income inequality and corruption in India, with ...More

The Gallup World Poll Survey (2019-23) revealed a rise in income inequality and corruption in India, with the top 1% earning 22.6% of total pre-tax income. Corruption perceptions increased, with more respondents believing it was prevalent in both businesses and government. The judiciary showed mixed effectiveness in addressing the issue. Higher education correlated with lower income inequality but greater awareness of corruption. Fiscal policies in the recent budget did not target increased taxation on the rich, missing an opportunity to fund crucial reforms for health and education in India. ...Less

Global tax reform plans targeting billionaires and multinational corporations face significant setbacks, ...More

Global tax reform plans targeting billionaires and multinational corporations face significant setbacks, particularly with the United States' opposition under President Trump, who withdrew from international agreements and threatened tariffs. These actions have strained relationships with allies and jeopardized efforts to tax digital services and implement a global minimum corporate tax rate. ...Less

CEA Arvind Subramanian may find that making policy for a country like India is vastly more difficult than ...More

CEA Arvind Subramanian may find that making policy for a country like India is vastly more difficult than giving logical policy recommendations. ...Less

If you are not sure what to buy for the finance and economics nerd in your life, look no further. Here's ...More

If you are not sure what to buy for the finance and economics nerd in your life, look no further. Here's a list you can choose from. ...Less

As per the 'World Inequality Report 2022', India is among the most unequal countries in the world, with r ...More

As per the 'World Inequality Report 2022', India is among the most unequal countries in the world, with rising poverty and an 'affluent elite'. ...Less

Bestselling books on income inequality attribute the issue to various factors, including global capitalis ...More

Bestselling books on income inequality attribute the issue to various factors, including global capitalism, poor domestic policies, and the behavior of capitalists. However, hard work also plays a significant role, contributing about 20% of the variance in lifetime earnings in the U.S. According to research from economists at Princeton, Vanderbilt, and the Federal Reserve Bank of St. Louis, both the total hours worked and investment in human capital influence earnings. ...Less

India's middle class is shrinking due to a slowdown in consumer demand. Major brands like Nestlé report l ...More

India's middle class is shrinking due to a slowdown in consumer demand. Major brands like Nestlé report lower growth and high profit margins are under pressure. Urban spending is slowing, and rural demand remains weak. Companies must now adjust strategy to retain market share until economic conditions improve. ...Less

India's financial shift includes 13.6 crore investors, about 10% affluent, driven by SEBI and smartphones ...More

India's financial shift includes 13.6 crore investors, about 10% affluent, driven by SEBI and smartphones. Participation extends beyond Maharashtra and Gujarat to states like Uttar Pradesh and Madhya Pradesh. Individual investor opinions shape economic policies. Retail investors hold an 18.5% listed share, contributing ₹25,000 crore via Securities Transaction Tax, despite risky leveraged positions. ...Less

While the bottom half of the population in India earns Rs 53,610, the top 10% earns twenty times more at ...More

While the bottom half of the population in India earns Rs 53,610, the top 10% earns twenty times more at Rs 11,66,520. While the top 10% and top 1% hold respectively 57% and 22% of total national income, the share of the bottom 50% has gone down to 13%. India stands out as a poor and very unequal country, with an affluent elite. ...Less

Many countries have attempted to tax the rich through these taxes without success. They fundamentally mil ...More

Many countries have attempted to tax the rich through these taxes without success. They fundamentally militate against simple economic logic - disproportionate amounts are spent on their collection, and evasions are easy. The taxes also disincentivise enterprise and lead to flight of capital, affecting growth. ...Less

Non-economic barriers have restricted the migration of skilled Indian workers to high-wage countries. Mah ...More

Non-economic barriers have restricted the migration of skilled Indian workers to high-wage countries. Maharashtra's ongoing initiatives aim to address these barriers through government-to-government agreements, skill development, and language training. This will position India as a global source of human capital, particularly benefiting from the ageing populations in developed countries. ...Less

The real danger with the equality messiahs is their favoured policy prescription, namely tax. Applying We ...More

The real danger with the equality messiahs is their favoured policy prescription, namely tax. Applying Western narratives on taxing the rich more on their incomes and wealth is counterproductive in India. ...Less

Milton Friedman and Friedrich Hayek argued that redistributive policies can stifle innovation and product ...More

Milton Friedman and Friedrich Hayek argued that redistributive policies can stifle innovation and productivity. If individuals feel their efforts will be heavily taxed or redistributed, they may not be motivated enough to invest in new ventures or improve productivity, leading to an economic slowdown. ...Less

Modern economists have a flawed understanding of how societies and economies function, leading to a need ...More

Modern economists have a flawed understanding of how societies and economies function, leading to a need for a new economics that brings humanity back into capitalism. The current approach to economics, which relies on leaving problems to the market, has led to structural weaknesses in economies and irrational exuberance in deregulated financial markets. ...Less

Sam Altman's firing and reinstatement at OpenAI marked a turning point for AI, shifting its focus from so ...More

Sam Altman's firing and reinstatement at OpenAI marked a turning point for AI, shifting its focus from societal good to a tool for productivity and profit. While AI has the potential to revolutionize various aspects of life, concerns arise about its potential to exacerbate existing inequalities within the capitalist system. ...Less

Making poor people look well-off can dismantle class barriers better than Tom Piketty ...More

Making poor people look well-off can dismantle class barriers better than Tom Piketty ...Less

Higher taxes will drive rich people out, lower taxes will reduce revenue, making it almost impossible to ...More

Higher taxes will drive rich people out, lower taxes will reduce revenue, making it almost impossible to fix. ...Less

Let's take a look at what might matter on D-Street today. ...More

Let's take a look at what might matter on D-Street today. ...Less

Figures published last month showed just how few of India's top earners pay tax. Only six people earning ...More

Figures published last month showed just how few of India's top earners pay tax. Only six people earning over $7.4 million filed returns in 2012-13. ...Less

The argument for income transfer based on the claim that jobs are difficult to create is tad too pessimis ...More

The argument for income transfer based on the claim that jobs are difficult to create is tad too pessimistic. ...Less

India's economic problems can no longer be papered over by simply increasing the size of the economy, and ...More

India's economic problems can no longer be papered over by simply increasing the size of the economy, and higher GDP. The problem lies in the shape of the economy, and the distribution of opportunities within it. ...Less

The new online data sets, released at the American Economic Association Annual Conference last week, use ...More

The new online data sets, released at the American Economic Association Annual Conference last week, use national accounts, survey data, fiscal data and wealth rankings. ...Less

Past experience (ask Vodafone or Cairn) means the credibility of Indian politicians is almost zero in tax ...More

Past experience (ask Vodafone or Cairn) means the credibility of Indian politicians is almost zero in tax matters. Covid could continue for years if new strains appear, and so could the proposed tax. ...Less

As labour groups look to bring the country "to a standstill" on Tuesday, AFP looks at what's at stake for ...More

As labour groups look to bring the country "to a standstill" on Tuesday, AFP looks at what's at stake for the president, the unions and the country at large. What's in the reform? Macron's flagship proposal would raise the minimum retirement age from its current level of 62 to 64, bringing France more into line with its EU neighbours, most of which have pushed back the retirement age to 65 or higher. ...Less

Trump’s election also showed that the rising tide of globalization had not only failed to lift all boats, ...More

Trump’s election also showed that the rising tide of globalization had not only failed to lift all boats, it had concentrated wealth in a small minority. ...Less