The average layperson cannot easily tell the difference between good and bad economics, owing not least to the discipline’s broad range of content and methodologies.
For Kaushik Basu's latest contributions to The Japan Times, see below:
The global economy and capitalism are at a crossroads, with the COVID-19 being the primary impetus for this view, followed by climate change, digital technology and changing labor markets.
At the global level, the International Monetary Fund has warned of a “great divergence,” whereby rich countries recover strongly while others flounder.
More than 1 billion COVID-19 vaccine doses have now been administered worldwide, but vast disparities remain.
Agriculture is an intricate issue that raises important questions not just for India but for all economies struggling to strike a balance between the market and the state.
Economic globalization is no longer compatible with the political balkanization that hypernationalism underpins.
Reducing the issue to a binary question (Should we lock down or not?), or even a linear one (How much should we lock down?), oversimplifies a complicated problem.
Once links between medicine and economics are pinpointed, fascinating policy ideas begin to emerge.
Like W.H. Auden in 1939, we must accept the possibility that things could become far worse than they already are.
Argentina was one of the world's richest economies in the first few decades of the 20th century, but subsequently became a cautionary tale of how a wealthy country can lose its way.