200 Years of the Theory of Comparative Advantage

by Shruti Rajagopalan Today is the 200th anniversary of David Ricardo’s On the Principles of Political Economy and Taxation, published on April 19, 1817. This remarkable, and rather unintuitive idea, is an essential component of every economist’s arsenal. When challenged by the mathematician Stan Ulam to name one proposition in the social sciences that was … Continue reading 200 Years of the Theory of Comparative Advantage

An Appreciation: James M. Buchanan (1919-2013)

by Shruti Rajagopalan*  James M Buchanan, who died last week at age 93, was one of the most profound thinkers of our age. Few Indians would be familiar with his academic contributions or even recognize his name. Yet, the insights from his research would strike a chord with every Indian navigating the inefficiencies and excesses … Continue reading An Appreciation: James M. Buchanan (1919-2013)