I wrote a piece for Mint on how structural policy reforms have a similar effect to technology-driven deflation. The thesis for this article came from a tweetstorm: If your existing asset base achieves 30% output increase, you defer capex, recruitment….
Harsh recently wrote an excellent piece on how India’s economy will grow from the current $2.5 trillion GDP to $12 trillion by 2030. His prediction rests on on two planks: increasing participation of women in the workforce, and technological change….
Over the last three years, entrepreneurship has captured India’s imagination, and for good reasons. Never in our history has it been possible for first-generation entrepreneurs to start companies, raise seed capital and build a business in the way we have…
Momentous changes in India’s equity market microstructure will improve market efficiency and smooth volatility over time. Emerging markets are frequently stereotyped as being prone to wild swings and outsized volatility. In particular, India has historically been a market where foreign…
In which industry does the US enjoy a globally dominant, almost unassailable position? No, it is not technology, pharmaceuticals, defence or aerospace. The one sector in which US dominance is near-absolute is higher education. Every year, some 80% of the…
The economic liberalisation of 1991 was the second independence in Indian history. It represented a tectonic shift in policies, the start of the end of ‘licence raj’, and unshackled the growth of the country. Time has come for the third…
In this piece, Harsh and I write about the importance of economic strength in the foreign policy arena: Military strength, despite its great importance, offers diminishing marginal returns. Possibilities of asymmetric power projections preclude any simplistic linear comparison of military…
Harsh and I have co-authored a piece on using financial derivatives for replacing the minimum support price (MSP) system for farmer welfare: With reduced risk thanks to commodity options, there will also be less of a need to keep crop…
Harsh and I have co-authored a piece on America’s presidential election: Early next month, Americans will decide whether to re-elect Democrat Barack Obama as President or vote in Republican Mitt Romney instead. Reports of America’s decline have been greatly exaggerated—it…