Showing 1 - 4 of 4
Extend-and-pretend runs out of puff
News, Satyajit Das, Published on 06/02/2018
» The default operating model today for seemingly all economics, business, social policy and environmental decisions is "extend and pretend", colloquially known as "kicking the can down the road". This approach brings forward benefits or gains, often based on cosmetic solutions, and defers risks or costs into the future. It's a convenient model for many reasons. But it's now in danger of breaking down.
Virtual cash not a global panacea
News, Satyajit Das, Published on 23/05/2017
» Even now, after the chaos caused by India's decision last November to eliminate nearly 90% of its banknotes, few people would argue with the policy's underlying assumption: Going cashless is, if handled well, a good thing. Yet the fact is, most arguments in favour of demonetisation don't stand up to scrutiny. And those that do should raise other concerns.
Don't bet on much change in 2017
News, Satyajit Das, Published on 03/01/2017
» At the end of each year, commentators traditionally reflect on emergent themes likely to shape the future. These prognostications usually ignore the indifferent record of prophets. The current consensus identifies two themes for the coming year: rising populism, and reflation -- that is, stronger growth and the return of inflation.
There is no simple solution to the looming downturn
News, Satyajit Das, Published on 16/06/2016
» A growing number of economists seem convinced that the US, EU and China are all headed for a prolonged period of sluggish growth -- secular stagnation, in the words of former US Treasury Secretary Larry Summers. A close parallel would seem to be 1990s Japan. There, too, the bursting of debt-funded asset price bubbles gave way to multiple rounds of fiscal stimulus, massive monetary easing and rock-bottom interest rates. Rescue efforts stabilised conditions but couldn't spark a sustainable recovery, leaving the economy mired in low growth, low inflation and high debt.