How we Subsidize the Rich

Yesterday's Indian Express carried a piece by me on the perverse oil subsidy that the government of India provides. I begin that piece with my favorite Douglass North quote: "Economic history is overwhelmingly a story of economies that failed to produce a set of economic rules of the game (with enforcement) that induce sustained economic … Continue reading How we Subsidize the Rich

Profits are Corporations’ Social Responsibility

The business of business is profit. That's the whole point in doing business. If a business is following the rules and legally making a profit, it is discharging its social responsibilities. I wrote an opinion piece on corporate social responsibility (CSR) in today's Mint arguing that corporations are not responsible for solving social problems. Here's … Continue reading Profits are Corporations’ Social Responsibility