Paul Samuelson was very much a proselytizer of Keynesian economics. But he added some elegant maths to what came to be known as the Hicks-Hansen Keynesian model.
After studying the Great Depression, Keynes concluded that in times of huge economic stress, the government should become the spender of the last resort.
There are many scary scenarios about how badly we Indians may be affected or how many killed by Covid-19. But they presume we will do nothing to influence our fates.
Peter Manuel's ‘Cassette Culture’ showed the booming Bhakti music during the '80s and '90s when Anoop Jalota, Gulshan Kumar achieved success by singing the sanitised Bhajans.
Economists say there are weaknesses in India’s GDP data. But statisticians claim the accusations are based on flawed understanding, saying while GDP has problems, the economists are looking in the wrong places.
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