• Indian IT: Privileged, Protected and Pampered

    India’s IT industry does protest too much.  Its latest peeve is that the US has decided to steeply hike, from $2300 to about $4300, the cost of a H-1B visa required for entry into the US of temporary skilled workers from abroad.  The new Border Security Bill passed by the US Senate and signed into […]

  • G20: Where No Side Wins

    There is only one message that comes out of Toronto, where the G20 summit has come to an end.  The formation, ostensibly created to reflect changing power equations in the world economy, serves no purpose.  It has turned out to be one more talking shop in which agreement to disagree is presented as a consensus. […]

  • The Spectre of Public Debt

    Pegging their arguments on the still ongoing drama relating to sovereign debt in Greece, conservative opinion is making a case for a reduction of the size of public debt in developed and developing countries across the world.  The latest signatory to the appeal is IMF chief Dominique Strauss-Kahn who reportedly told an audience at the […]

  • Recovery or Bubble?

    Fears of a new speculative boom on which the global recovery rides are being expressed in different circles.  There are as many aspects to these fears as there are to the so-called recovery, which include the huge profits being recorded by some major banking firms, the surge in capital flows to emerging markets, the speculative […]

  • On the Dollar’s Decline

    If time lags matter, news of the dollar’s demise as the world’s principal reserve currency is grossly exaggerated.  That prediction has been periodically heard at least since the early 1970s when the United States brought the Bretton Woods arrangement to an end by breaking the link between dollar and gold.  As is obvious, whatever else […]