The rupee is tumbling once more – and for those with long memories, this all looks rather familiar.
In 1991 investors deserted India as turbulence descended: prime minister Rajiv Gandhi was assassinated and what’s now known as the Balance of Payments Crisis gripped the country.
The episode was enough to put a serious dent in the country’s booming economic growth.
What caused it? Read more
One of my perennial moans about Britain is the lousy state of its badly funded thinktanks: there are noble exceptions, but too few. This weekend, the Centre for Policy Studies published a piece arguing that the BBC was not impartial in its choice of stories nor its presentation of them; leftier thinktanks, it reckoned, get more coverage than rightier ones and an easier ride. I claim no expertise in that. I was more interested by the maths: the conclusions may well be right, but the analysis is bizarre.
The work relies upon a ranking of how left- or rightwing thinktanks are, which is drawn from the number of mentions of those thinktanks in articles in the Guardian (for the left) and the Telegraph (on the right). There are many, many things wrong with the analysis. Read more