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Why David Card, Joshua Angrist and Guido Imbens won the Nobel Prize in economics

The prize this year is unique in the sense that it is awarded both for “methodological contributions” and applied work. The broad theme that unites their work is the use of “natural experiments” to answer important economic questions
Economists are often interested in the causal effects of policies. A “naive” way of finding the causal effects is just looking at the association between two phenomena (via REUTERS)
Economists are often interested in the causal effects of policies. A “naive” way of finding the causal effects is just looking at the association between two phenomena (via REUTERS)
Updated on Oct 11, 2021 08:24 PM IST
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By Anand Shrivastava and Avinash Tripathi

The collective complicity for AQ Khan

The notion that Khan operated a rogue proliferation network is useful fiction. His death leaves many questions unanswered
The irony is that Khan’s technological contributions were often failures. Iran abandoned Khan’s secondhand P-1 centrifuges because they proved faulty, while North Korea forsook that method, remaining reliant on plutonium. China continued its struggles with centrifuges in the 1980s until it received assistance from Russia. (REUTERS)
The irony is that Khan’s technological contributions were often failures. Iran abandoned Khan’s secondhand P-1 centrifuges because they proved faulty, while North Korea forsook that method, remaining reliant on plutonium. China continued its struggles with centrifuges in the 1980s until it received assistance from Russia. (REUTERS)
Updated on Oct 11, 2021 06:49 PM IST
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By Dhruva Jaishankar

In Perspective | Whistle-blower Haugen’s critique of Facebook, and the way out

Facebook engagement-based algorithms and its financial incentives are at the heart of the damage it’s causing and must be regulated; the company’s trove of data needs to be opened to outside researchers; and there is unanimity among American lawmakers that regulation is necessary
Former Facebook employee and whistle-blower Frances Haugen testifies during a Senate Committee on Commerce, Science, and Transportation hearing entitled 'Protecting Kids Online: Testimony from a Facebook Whistleblower' on Capitol Hill, in Washington, October 5, 2021 (REUTERS)
Former Facebook employee and whistle-blower Frances Haugen testifies during a Senate Committee on Commerce, Science, and Transportation hearing entitled 'Protecting Kids Online: Testimony from a Facebook Whistleblower' on Capitol Hill, in Washington, October 5, 2021 (REUTERS)
Updated on Oct 11, 2021 05:01 PM IST
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India must find its way back into trade arrangements

How can India address the ongoing changes in trading relationships as well as broader changes in the global landscape? Instead of being reactive, it could be more proactive and forward-looking, such as in building economic alliances that leverage the links between trade and investment.
As India watches, Southeast Asian countries are signing free trade agreements (FTAs), improving market access and creating conditions for deepening their already strong integration with global value chains (HTPHOTO)
As India watches, Southeast Asian countries are signing free trade agreements (FTAs), improving market access and creating conditions for deepening their already strong integration with global value chains (HTPHOTO)
Updated on Oct 11, 2021 03:10 PM IST
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By Sanjay Kathuria, TG Srinivasan and Prachi Agarwal

Decoding China’s recent aggression vis-a-vis Taiwan

Chinese air and maritime incursions into Taiwanese territory is not a new phenomenon. China has been militarily coercing Taiwan since the 1990s. This has particularly been the case since Taiwan went through a democratic transition process.
In an article published on October 5, Taiwan’s president Tsai Ing-wen stated, “If Taiwan were to fall, the consequences would be catastrophic”. Her rather alarming statement was in the context of a recent surge in the number of People’s Liberation Army (PLA) encroachments into Taiwan’s southwestern Air Defence Identification Zone (AP)
In an article published on October 5, Taiwan’s president Tsai Ing-wen stated, “If Taiwan were to fall, the consequences would be catastrophic”. Her rather alarming statement was in the context of a recent surge in the number of People’s Liberation Army (PLA) encroachments into Taiwan’s southwestern Air Defence Identification Zone (AP)
Updated on Oct 11, 2021 03:10 PM IST
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By Sana Hashmi

Congress shouldn’t get carried away by Lakhimpur Kheri. Fix structural issues

Priyanka Gandhi Vadra enthused the cadre and sent a message. But having a clear chain of command in Delhi and resolving factionalism in Punjab and Rajasthan are essential for the party
Even the fissures embodied by reformists in the party’s central architecture seemed to be on the mend (PTI)
Even the fissures embodied by reformists in the party’s central architecture seemed to be on the mend (PTI)
Updated on Oct 11, 2021 10:25 AM IST
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By Vinod Sharma

Glasgow: The science, the policy landscape, and the (absence of) action

Sharma and Kerry have suggested that India should enhance its NDC and make larger commitments to bring down CO2 emissions drastically so that, globally, the 1.5 degree goal can be kept alive
Do per capita carbon emissions have a role to play in deciding climate action being taken by countries? (Raj K Raj/HT PHOTO)
Do per capita carbon emissions have a role to play in deciding climate action being taken by countries? (Raj K Raj/HT PHOTO)
Updated on Oct 11, 2021 11:27 AM IST
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By Jayashree Nandi

By 2025, India can have 200 unicorns. Here is how

Today, India is the third largest start-up ecosystem globally by number of start-ups, with more than 15,000 start-ups opening shop in 2020, up from 5000 in 2010
For unicorns and decacorns, as they look to scale further, access to private funds would be increasingly difficult given their ultra-high valuations, forcing them to turn to public markets (Shutterstock)
For unicorns and decacorns, as they look to scale further, access to private funds would be increasingly difficult given their ultra-high valuations, forcing them to turn to public markets (Shutterstock)
Updated on Oct 11, 2021 09:52 AM IST
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By Vikash Jain, Shaleen Sinha, and Vaibhav Malhotra

LAC and the India-China stalemate

LAC is fragile, and India has to deal with a more complex geopolitical situation than in October 1962
Almost six decades after the war of October 1962, India and China are yet to arrive at a modus vivendi on an intractable territorial issue, which, at its core, is a manifestation of major power contestation within the Asian grid (AFP)
Almost six decades after the war of October 1962, India and China are yet to arrive at a modus vivendi on an intractable territorial issue, which, at its core, is a manifestation of major power contestation within the Asian grid (AFP)
Updated on Oct 10, 2021 07:38 PM IST
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By C Uday Bhaskar

Lakhimpur Kheri: The movement and the politics

This non-violent farmers’ movement, which has been going on for a year, has now witnessed a bloody incident that has aroused anger and passion
Every day, we see a new leader and a new video in the news. There are concerns about those who lost their lives and those who were injured (Naeem Ansari)
Every day, we see a new leader and a new video in the news. There are concerns about those who lost their lives and those who were injured (Naeem Ansari)
Updated on Oct 10, 2021 07:31 PM IST
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By Shashi Shekhar

Kashmir: When domestic politics hurts national security

The Kashmir killings are a trap. A forceful response can hurt innocents, help militants. But not responding isn’t an option either. Political engagement is the only way out
It is indeed the State’s responsibility to protect local minorities and non-local migrants from such attacks. This cannot be done by alienating Kashmiri Muslims and creating a communally charged atmosphere where suggestions of political engagement with mainstream Kashmiri leaders are either shot down as being “pro-Islamist” and/or “pro-Pakistan” or, when it’s done, fails to yield meaningful results. (AP)
It is indeed the State’s responsibility to protect local minorities and non-local migrants from such attacks. This cannot be done by alienating Kashmiri Muslims and creating a communally charged atmosphere where suggestions of political engagement with mainstream Kashmiri leaders are either shot down as being “pro-Islamist” and/or “pro-Pakistan” or, when it’s done, fails to yield meaningful results. (AP)
Updated on Oct 09, 2021 03:53 PM IST
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By Avinash Paliwal

The question, the grief, the excuses, and the return of 1990

When the mass exodus of 1990 forced hundreds of Kashmiri Pandit and Sikh families to flee their homes, conspiracy theorists spun a deceitful account of a single man orchestrating the migration to suit their political ends. It did not matter that the story of each of these families was uncannily similar; the leitmotif of these stories being despondency, uncertainty, and worst of all, the apathy of being accused of being pawns in a political game.
Kashmiri Pandits take part in a candle light protest against the killing of three persons, October 6, 2021 (PTI)
Kashmiri Pandits take part in a candle light protest against the killing of three persons, October 6, 2021 (PTI)
Updated on Oct 09, 2021 05:12 PM IST
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Gandhi, Tagore, and India’s coaching culture

NEP can only succeed if there are enough schools and colleges, teachers and lecturers, to provide education. A Unesco report warns that 1.1 million teacher vacancies are unfilled. The situation is particularly dire in rural India.
Universities imposing 100% cut-offs are encouraging that culture. The ferocious competition in the education system leads to children and students swotting and working so hard that they have no time for other activities which would broaden their minds — such as the proximity to others from which Tagore learnt so much from (HT PHOTO)
Universities imposing 100% cut-offs are encouraging that culture. The ferocious competition in the education system leads to children and students swotting and working so hard that they have no time for other activities which would broaden their minds — such as the proximity to others from which Tagore learnt so much from (HT PHOTO)
Updated on Oct 09, 2021 12:19 PM IST
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By Mark Tully

In a changing world, a rethink of India’s foreign policy

A thought-provoking paper, recently released by the Centre for Policy Research, argues that the foundational source of India’s influence in the world… rests on four pillars: Domestic economic growth, social inclusion, political democracy and a broadly liberal constitutional order. Today, each of those pillars is wobbling.
The most interesting part of the recent CPR study concerns our immediate neighbourhood. India can only achieve great power status if it can succeed here. The problem is “China’s willingness to intervene in the domestic politics of India’s neighbours” and its enormous capacity to do so. (Amal KS/HT PHOTO)
The most interesting part of the recent CPR study concerns our immediate neighbourhood. India can only achieve great power status if it can succeed here. The problem is “China’s willingness to intervene in the domestic politics of India’s neighbours” and its enormous capacity to do so. (Amal KS/HT PHOTO)
Updated on Oct 09, 2021 12:18 PM IST
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Is there a rethink in DC on Pakistan?

Is Biden ready to strip Pakistan of the MNNA designation? Both Democratic and Republican lawmakers have called for it, and a bill has been moved
The Biden administration has said it is reviewing the relationship with Pakistan in the light of its role in Afghanistan (AP)
The Biden administration has said it is reviewing the relationship with Pakistan in the light of its role in Afghanistan (AP)
Updated on Oct 08, 2021 08:49 PM IST
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By Yashwant Raj

In Kashmir, the selective caravans of mohabbat

Imagine a Kashmiri Pandit in the 1990s, braving all kinds of threats and hand-grenade attacks outside his shop, surviving the madness of 30 years, thinking that maybe the worst is over
The downplaying of the fear has not worked at all. Scores of Kashmiri Pandits, most of them staying in Kashmir because of their government jobs, have left fearing a repeat of what happened to their community in 1990 (PTI)
The downplaying of the fear has not worked at all. Scores of Kashmiri Pandits, most of them staying in Kashmir because of their government jobs, have left fearing a repeat of what happened to their community in 1990 (PTI)
Updated on Oct 08, 2021 08:41 PM IST
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By Rahul Pandita

On economic reforms, India seizes the baton

Modi’s India continues to create opportunities for its people, as Xi’s China deviates from Deng’s vision and destroys private sector wealth
The privatisation of Air India is an inflection point, a bell weather of New India’s new trajectory. That is not so much about its size. It is primarily about the symbolism of pulling the plug on hypocritical vested interests (Satyabrata Tripathy/HT Photo)
The privatisation of Air India is an inflection point, a bell weather of New India’s new trajectory. That is not so much about its size. It is primarily about the symbolism of pulling the plug on hypocritical vested interests (Satyabrata Tripathy/HT Photo)
Updated on Oct 08, 2021 08:38 PM IST
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By Baijayant “Jay” Panda

Fantasy sport, Karnataka’s online gambling ban, and what policymaking gets wrong

The ambiguity created by the law’s failure to distinguish between gambling and OFS is likely to incentivise overcompliance and lack of response uniformity among OFS platforms
Deeming something illegal does not mean that the activity in question no longer exists (Hindustan Times)
Deeming something illegal does not mean that the activity in question no longer exists (Hindustan Times)
Updated on Oct 08, 2021 06:24 PM IST
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By Atish Padhy

The Rahul versus Mamata versus Arvind battle

The Congress can’t be discounted, but its weaknesses have emboldened other parties to expand their national footprint
The crisis in the Congress has sparked off a race for pre-eminence in the Opposition ranks. While Mamata Banerjee is trying to expand her party’s presence in the Northeast and Goa, Kejriwal too is moving quickly into states where the Congress is seen as vulnerable (Sanjeev Verma/HT PHOTO)
The crisis in the Congress has sparked off a race for pre-eminence in the Opposition ranks. While Mamata Banerjee is trying to expand her party’s presence in the Northeast and Goa, Kejriwal too is moving quickly into states where the Congress is seen as vulnerable (Sanjeev Verma/HT PHOTO)
Updated on Oct 07, 2021 04:50 PM IST
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To increase the share of gas in its energy mix, India has diplomatic options

The government has a target to increase the share of gas in India’s energy mix from the current 6% to 15% by 2030. The success of this plan depends on the availability of cheap gas
LNG prices are subject to market dynamics. LNG is currently trading above $37 per metric million British thermal units (MMBtu) in Asian markets. The availability of piped gas will help introduce both competition and price stability. (HT PHOTO)
LNG prices are subject to market dynamics. LNG is currently trading above $37 per metric million British thermal units (MMBtu) in Asian markets. The availability of piped gas will help introduce both competition and price stability. (HT PHOTO)
Updated on Oct 07, 2021 02:54 PM IST
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By DP Srivastava

India is staring at a public health crisis due to ultra-processed food products

India is sitting on a ticking time-bomb of non-communicable diseases if you believe the findings from the Comprehensive National Nutrition Survey. The survey revealed that 56% of children between five to 19 years of age had cardio-metabolic risk factors
The food industry usually puts the onus on consumers for their “food preferences” for the increasing consumption of unhealthy foods, but refuses to provide correct information of the content of unhealthy ingredients in their products. It is time that we assert our consumer rights. (Hindustan Times)
The food industry usually puts the onus on consumers for their “food preferences” for the increasing consumption of unhealthy foods, but refuses to provide correct information of the content of unhealthy ingredients in their products. It is time that we assert our consumer rights. (Hindustan Times)
Published on Oct 07, 2021 01:42 PM IST
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By Arun Gupta

Don’t just blame big-ticket projects for the destruction of the Himalayas

There are plenty of other comparatively much smaller, below-the-radar schemes that are chipping away the natural heritage of these ecologically fragile states. Like highways and dams, these too continue, despite protests, in the name of development and taking advantage of State oversight or, in many instances, unethical governance.
According to a report in this newspaper on August 4, government data shows that there has been a sharp increase in weather-related calamities over the years in the state. Uttarakhand has registered 7,750 extreme rainfall events and cloud bursts since 2015, most of them over the last three years, which have killed 230 people. (ANI)
According to a report in this newspaper on August 4, government data shows that there has been a sharp increase in weather-related calamities over the years in the state. Uttarakhand has registered 7,750 extreme rainfall events and cloud bursts since 2015, most of them over the last three years, which have killed 230 people. (ANI)
Updated on Oct 06, 2021 09:19 PM IST
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CM to PM: Modi’s two decades of service

In 20 years, Modi has created a new India. His policies have uplifted the poor, empowered women and children, resolved legacy issues, and made India secure and confident
Narendra Modi is a mass leader; he is also the world’s most popular leader. His tenure, first as CM and now as PM, has been marked by several incidents of impromptu connection with the masses (HTPHOTO)
Narendra Modi is a mass leader; he is also the world’s most popular leader. His tenure, first as CM and now as PM, has been marked by several incidents of impromptu connection with the masses (HTPHOTO)
Updated on Oct 06, 2021 09:20 PM IST
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By Jagat Prakash Nadda

Russia and India are not allies. But they are close partners

It is necessary to broaden contacts between political, business, social and cultural circles, and to increase the number of bilateral expert events
For all the external dissimilarities between Russia and India, they face a number of similar tasks (Getty Images)
For all the external dissimilarities between Russia and India, they face a number of similar tasks (Getty Images)
Updated on Oct 06, 2021 08:00 PM IST
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By Gleb Ivashentsov

In 95% of rapes, the culprit is an acquaintance. Design the right strategies

It is time we realised that rape does not happen only when an unsuspecting woman walking on a secluded road is pulled away by a weapon-wielding stranger
Studies from India and outside have provided insights on how rapes by known people or “acquaintance rape” is substantially different from “stranger rape” (AP file photo)
Studies from India and outside have provided insights on how rapes by known people or “acquaintance rape” is substantially different from “stranger rape” (AP file photo)
Updated on Oct 06, 2021 07:05 PM IST
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By Arpan Tulsyan

Scientifically Speaking | We are eating too much salt and it is killing us

New research conducted in India and in China shows that by using substitutes for table salt, health risks associated with high sodium intake can be lowered
Some people who have normal blood-pressure do not have to worry about how much salt they consume (Shutterstock)
Some people who have normal blood-pressure do not have to worry about how much salt they consume (Shutterstock)
Updated on Oct 06, 2021 04:46 PM IST
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By Anirban Mahapatra

The Mahatma and his economic worldview

Counterintuitive as it may appear, there are striking parallels between Gandhi and Adam Smith’s views on wealth and morality
Free India has ignored Gandhi’s Nai Talim. I have argued that this is a mistake. Nai Talim — with its emphasis on eye-hand coordination, development of motor skills (as explored by Maria Montessori, a friend of Gandhi’s) and implied left brain-right brain balance — actually can set right the excessive focus on rote learning and examinations that we suffer from. (PTI)
Free India has ignored Gandhi’s Nai Talim. I have argued that this is a mistake. Nai Talim — with its emphasis on eye-hand coordination, development of motor skills (as explored by Maria Montessori, a friend of Gandhi’s) and implied left brain-right brain balance — actually can set right the excessive focus on rote learning and examinations that we suffer from. (PTI)
Updated on Oct 05, 2021 01:15 PM IST
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By Jaithirth Rao

With LED, a self-reliant India can show a light to the world

LED is more than just a cost-efficient, energy-efficient and cleaner lighting option for India. It is also the driver of exports, employment, and economic growth, an illustration of what India could do with its focus on self-reliance. It is increasingly a global hub for LED with exports in 2018-19 growing 86% over the previous year to touch five million units.
A preview of Safdarjung Tomb, illuminated with 212 state-of-the art mono LED lights, New Delhi, July 18, 2019 (Raj K Raj/HT PHOTO)
A preview of Safdarjung Tomb, illuminated with 212 state-of-the art mono LED lights, New Delhi, July 18, 2019 (Raj K Raj/HT PHOTO)
Published on Oct 05, 2021 12:53 PM IST
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By Mukund G Rajan and Bishal Thapa

The link between village size, school years, markets and women in the workforce

The costs of neglecting public schooling and health, costs that are all too apparent, all too often fall on women. India’s new National Education Policy rightly stresses the importance of improving schooling facilities and reducing dropout rates. Ensuring these objectives holds the key to higher LFPRs for women.
Conventional academic wisdom relates declining female LFPRs in the early stages of a country’s growth to a lack of “suitable” non-agricultural jobs for the rapidly growing numbers of educated women. This suggests that the problem is not a failure of education but, on the contrary, a consequence of improvements in female schooling that have outpaced the growth of the non-agricultural economy. (PTI)
Conventional academic wisdom relates declining female LFPRs in the early stages of a country’s growth to a lack of “suitable” non-agricultural jobs for the rapidly growing numbers of educated women. This suggests that the problem is not a failure of education but, on the contrary, a consequence of improvements in female schooling that have outpaced the growth of the non-agricultural economy. (PTI)
Updated on Oct 05, 2021 12:06 PM IST
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By Anjini Kochar
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Tuesday, October 12, 2021