The discipline looks out of date as technology disrupts markets and alters the nature of production
4 min read10 Dec 2019What is astonishing is that a government which had earned plaudits for institutionalizing a new monetary policy framework with a clear and transparent mandate for the central bank is now involved in dismantling that very edifice
4 min read29 Nov 2018Mint's new macroeconomic tracker for the Indian economy looks at all the high-frequency indicators to gauge the country's economic health
3 min read29 Oct 2018Search for new consensus is futile, way ahead is more conversations between different macroeconomic schools
5 min read15 Sep 2018None of the contemporary debate would have been possible without the googly that Milton Friedman and Edmund Phelps threw at the economics profession
4 min read23 Apr 2018Economics models are mathematical in nature, and representing the full complexity of human behaviour with math would make models unwieldy
4 min read9 Jan 2018It's doubtful if economists practice what their dismal doctrine preaches, perhaps they realize that the welfare gains of not giving gifts would be more than offset by the welfare losses of being lynched
3 min read25 Dec 2017Eventually, Indian firms will get used to the new dynamics of their businesses, the extraneous factors currently worrying them and the new rules of doing business
3 min read23 Jul 2017A weak economic growth narrative sits uneasily with dramatically improved macroeconomic stability, but a traditional counter-cyclical response is unlikely to be efficacious
7 min read19 Jul 2017An important lesson of Milton Friedman's speech from 50 years ago remains valid: If we want to ensure more people are well-employed, central banks alone will certainly not suffice
4 min read17 Jul 2017The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared