The principal constraint to raising living standards in this century will come neither from scarce resources nor limited technologies. Rather it will come from our limited capacity to discover and implement new rules—new ideas about how to structure interactions among people, such as land...

The paper examines the basic reasons and feasible remedies for organizational weakness, and the possible contribution of ownership, industry and management structure, leadership, social norms, and institutional incentives to alleviating the weaknesses in the Indian context. The arguments are...

Nine out of ten parliamentarians in India are men. Such dismal figures reveal the lasting grip of unfavourable social norms. Women’s disadvantage on a complex set of social and economic factors effectively keeps them at the margin of political life. Six decades have gone by since...

In his early years, B S Minhas, who passed away recently, enriched economics with his valued theoretical contributions that are today an integral part of economic literature. These were both acknowledged and challenged by the giants of economics at that time. On his return to India, realising...

Milton Friedman`s place in the world of economics is well assured not only because of his concepts and theorems but also due to his demonstration that free market can be an instrument of social justice too.

A review of several decades of scholarship on civil war, focusing on the answers to key questions: Why do wars begin? Who fights? How are armed groups organized? How can we end and prevent internal war? A survey of the growing body of macroeconomic and microeconomic evidence to assess the...

The key elements of effective central banking that account for much of the improvement in monetary policy around the world today are outlined and explained. The past quarter of the century has been a revolutionary period in which the world emerged from great inflation and output instability into...

In this paper, how social preferences overcome the commitment problems implicit in vote-buying is examined. Data used for the study is a survey information on vote-buying experienced in a 2006 municipal election in Paraguay, with information on behavior in experiments carried out in 2002....

The paper attempts to construct political influence variables and explain discrepancies in fund disbursement through proper econometric specification in the Indian context.