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Indian-American economist Abhijit Banerjee among 3 awarded Nobel Prize in Economics for 'Approach to Alleviate Poverty'


Gollum

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Economics Nobel isn't as prestigious as science ones but an achievement nonetheless, Amartya Sen got the same prize in 1998.

 

Last decade or so many Indian origin academicians/researchers are making their mark at the highest level, most of them born in India, some even studied and worked here before moving abroad... Venkatraman Ramakrishnan (Nobel Prize Chemistry), Srinivasa Varadhan (Abel Prize), Manjul Bhargava and Akshay Venkatesh (Fields Medal). Something to ponder for us, our brightest minds unable to achieve highest levels of excellence staying back in India. 

 

 

Edited by Gollum
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Doesn't matter what his political inclination is, he is from apne desh ki mitti...hope he isn't snubbed merely because of his views on DeMo, GST, Gujarat model, Modi/Shah etc. For the country to move ahead views of such intellectuals shouldn't be drowned, neither should they be disowned. There surely must be some good advice on offer which BJP will be able to accommodate. 

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40 minutes ago, cowboysfan said:

sorry but i dont support this basic income nonsense,i am glad the stupid NYAY scheme didnt succeed.

Nobody in his/her right mind does ,it was just a stupid/desperate idea to make Congress relevant during the LS elections 

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The concept of basic income needs to be looked into.

 

However nyay would have bankrupted the country based on what was written in cong manifesto. Giving all indians rs 20 a day or giving them rs 200 a day. The former is manageable the latter will kill the state. The numbers quoted by cong was the later. (An illustrative example)

 

We need a deeper explanation if he meant that verbatim or cong basically made it political.

 

If he was behind what was written in that manifesto i would have to say nobel or no nobel it was a truly terrible idea.

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14 minutes ago, G_B_ said:

The concept of basic income needs to be looked into.

 

However nyay would have bankrupted the country based on what was written in cong manifesto. Giving all indians rs 20 a day or giving them rs 200 a day. The former is manageable the latter will kill the state. The numbers quoted by cong was the later. (An illustrative example)

 

We need a deeper explanation if he meant that verbatim or cong basically made it political.

 

If he was behind what was written in that manifesto i would have to say nobel or no nobel it was a truly terrible idea.

And that’s the problem with basic income: making it 20 rupees means nothing, it’s like  meaningless tax cut that lets you buy an extra 3-4 cokes per week. To see any positive effect of min basic income, it has to be enough to pay your bills: this is what Finland does. You get money from government to pay for your rent, some basic food and that’s it. They also have tax funded public healthcare and education( even post secondary) , so you can say their government gives them enough money to eat, have a roof, get educated and medical bills. 

 

I am an no economist, so I would drag @Tibarn as a resident poster who can elucidate more. I’d hazard a guess that this is economically unworkable for large developing populations. For India to trial the concept of basic income it’d have to equal billions of dollars in education and healthcare, then at least 10,000 rupees a month or so. Which would require like 15% growth per annum of economy to sustain.

Edited by Muloghonto
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11 hours ago, cowboysfan said:

sorry but i dont support this basic income nonsense,i am glad the stupid NYAY scheme didnt succeed.

Cut every other scheme and subsidies then go ahead implement it but can’t give free food medicine job insurance plus money.

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16 hours ago, Gollum said:

Doesn't matter what his political inclination is, he is from apne desh ki mitti...hope he isn't snubbed merely because of his views on DeMo, GST, Gujarat model, Modi/Shah etc. For the country to move ahead views of such intellectuals shouldn't be drowned, neither should they be disowned. There surely must be some good advice on offer which BJP will be able to accommodate. 

What about the other way around? Just because he won Nobel price, he becomes an expert in Indian history and politics? Or we strangely award him with Bharat Ratna?

 

And if anything, Modi government has shown they can work with ppl of different inclination. But can those ppl work without any bias?

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11 hours ago, G_B_ said:

However nyay would have bankrupted the country based on what was written in cong manifesto. Giving all indians rs 20 a day or giving them rs 200 a day. The former is manageable the latter will kill the state. The numbers quoted by cong was the later. (An illustrative example)

 

We need a deeper explanation if he meant that verbatim or cong basically made it political.

 

If he was behind what was written in that manifesto i would have to say nobel or no nobel it was a truly terrible idea.

Apparently he proposed a figure 1/3rd or 1/2 of what Cong put in its manifesto. Ofc Congress made it political, and before general election hyperbole is expected especially for a desperate entity. They did something similar regarding farm loans waiver in the run-up to Rajasthan and MP assembly elections, now look at them backtracking and cutting down on pre-poll promises. 

Edited by Gollum
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3 hours ago, someone said:

What about the other way around? Just because he won Nobel price, he becomes an expert in Indian history and politics? Or we strangely award him with Bharat Ratna?

Where did I say anything about Bharat Ratna? Many other more deserving candidates. 

Nobel Prize in Economics lends credibility, that's all I am saying. 

3 hours ago, someone said:

And if anything, Modi government has shown they can work with ppl of different inclination. But can those ppl work without any bias?

Only way to find out is if BJP is ready to seek help. 

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54 minutes ago, Gollum said:

Where did I say anything about Bharat Ratna? Many other more deserving candidates. 

Nobel Prize in Economics lends credibility, that's all I am saying. 

Only way to find out is if BJP is ready to seek help. 

These novels are based on theoretical explanations or ideas but never have these theories been implemented successfully on ground especially in a complex economy like India.

We can have 100 of Nobel laureates from India but it doesn't guarantee/mean our economic position will strengthen 

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