Category: Opinion

Sept 22, 2009 (LBO) – Rent-seeking, the use of one’s time, knowledge and efforts to earn an income which is not directly contributory to the national wealth, has been frowned upon by economists for many decades. Jagdish Bhagwati, Columbia University economist, branded India’s economy as a paradise for rent-seekers when India had everything under control, […]

Aug 07, 2009 (LBO) – At this social function in Male, capital of Maldives, everyone was sipping soft drinks, coke, fanta, soda and what not. In this Islamic Republic, liquor is a taboo, but not tobacco. So, many were enjoying their cigarettes competing to fill the air with circles of smoke. I was introduced to […]

June 3, 2009 (LBO) – Wars have always been fought with one objective. That is to take forced possession of economically valuable assets belonging to the enemy. The list may vary from time to time, but a typical set of such coveted assets goes on as follows: land including right to water; young women including […]

May 12, 2009 (LBO) – The Greek historian Plutarch has recorded an encounter which Alexander the Great had with one of the sages of Taxila University, Dandamis, in the third century B.C. The youthful emperor, having been impressed by Dandamis’ skilful resolution of numerous riddles thrown at him, had asked one final question: ‘how can […]

Apr 06, 2009 (LBO) – Many have expressed their concern about the rising incidence of educated youth leaving the country for employment in developed countries. The protest against the practice, commonly known as ‘brain drain’, is based on both economic and non-economic reasons. Economic Reasons The economic reasons adduced against the brain drain take the […]

Mar 13, 2009 (LBO) – The economic recession that began to plague the entire globe was the salient feature of the world economy during the period from 2007. Almost all the developed countries responded to the wide-spread recession by offering numerous stimulus packages funded by governments or the central banks. The recovery of the economy […]

July 18, 2006 (AFP) – A Sri Lankan watchdog has halted its probes into the disappearance of thousands of people so that the government can avoid paying compensation, the Asian Human Rights Commission charged Tuesday.Sri Lanka’s Human Rights Commission (HRC), appointed and funded by the government, has shelved some 2,000 current probes into people who […]

July 18, 2006 (AFP) – A Sri Lankan watchdog has halted its probes into the disappearance of thousands of people so that the government can avoid paying compensation, the Asian Human Rights Commission charged Tuesday.Sri Lanka’s Human Rights Commission (HRC), appointed and funded by the government, has shelved some 2,000 current probes into people who […]

JAKARTA, July 17, 2006 (AFP) – Five people were killed when waves hit buildings on the south coast of Indonesia’s Java island Monday after a strong undersea quake triggered a tsunami alert, Indonesia’s president said. “Based on reports I have received, five people have been killed,” President Susilo Bambang Yudhoyono told reporters.“The search is ongoing […]