At an event to celebrate George Kennan in 1994 on the eve of his 90th birthday, the diplomat credited with the strategy of containment that guided US policy towards the former Soviet Union said it had resulted in “one of the great disappointments of my life.” Kennan was saddened that containment had extracted costs too…
The conventional economic case for globalization and free trade has emphasized the aggregate gains that they bring, including enhanced productivity, faster technological change and wider consumer choice. However, a critical aspect often overlooked is that globalization inevitably creates both winners and losers in the short term, even though its long-term effects are broadly positive for…
Some of Donald Trump’s reasons for imposing tariffs on countries are understandable, even if their fitness for the purpose is debatable. Demanding that Mexico impose tighter border controls, Europe raise defence expenditure and China prevent fentanyl smuggling or else suffer economic punishment is coercive diplomacy. A good threat comprises a promise of punishment if the…
In response, both Canada and Mexico have announced retaliatory tariffs on key US industries, while Trump has vowed to impose “reciprocal” tariffs on “everybody across the board.” Also Read: Truth or dare: Close the deficit in clarity over the impact of Trump’s tariffs Since no other country wields as much influence over the world economy…
High-school physics textbooks tell us that the gravitational pull between two objects is determined by three factors—the weight of the two objects, the distance between them and a universal gravitational constant. The gravitational force is directly proportional to the mass of each object, while it is inversely proportional to the distance between them. This idea…
On the surface, these systems appear to be functioning as they should. Elections are being held, and voters are casting their ballots for leaders and parties they believe will represent their interests. But too often, they end up electing politicians who serve only their own interests rather than those of their constituents. While gullibility is…
This is my third offering of the Economic Survey, a comprehensive compilation of information and perspectives on the state of the Indian economy. It delves into issues that warrant focused and continued attention, providing insight and analysis crucial to understanding India’s economic landscape. The Survey of 2024-25 comes within a short span of six months…
