Politics

Indian farmers realize extremely low revenues. Revenues can be low either because farmers are unproductive and/or because they receive low prices for their output. While productivity relates mostly with technical aspects of farming, price realization depends on the state of the agricultural economy and can potentially be addressed by economic policy. In this article, I will discuss two dimensions of prices—wedges and dispersion—and shed light on some common misconceptions.

Are Intermediaries Bad?

The study of India in the United States was relatively modest prior to India’s independence. In 1939, the great Sanskritist, W. Norman Brown, who established the first academic department of South Asian Studies in the US reflected, “It takes no gift of prophesy to predict that [during the second half of the twentieth century] the world will include a vigorous India, possibly politically free, conceivably a dominant power in the Orient, and certainly intellectually vital and productive.

Narendra Modi’s election, now four years ago, brought tremendous optimism to many observers of the Indian economy. Finally, the man who many thought had achieved economic miracles in Gujarat would govern India with similar discipline, encouraging both domestic and foreign investment and thus unleashing the full potential of the market to drive India’s economic transformation. Four years later, however, Modi’s project of governance reform has stalled.

The year 2018 started on a somber note when reports of Cape Town running out of public water supplies shook the global news cycle. A little-known fact that did not get much attention in popular media was that for a quarter of the city’s residents living in informal settlements, “Day Zero” has long been part of everyday life. As scientists have begun to count down this looming crisis in other major cities, especially in the developing world, the socio-political implications of inequitable access to basic need services have become exigent.