The liquidity crunch and credit crisis that originated in the US have hit global financial markets like a whirlwind. The crisis is only getting worse. As the world tries to grapple with it, one more myth has been shattered. We were told by our policy-makers and corporate leaders that the Indian economy is insulated from the global turmoil. The market is no respecter of such theories. Indian...

One of the world’s best-performing hedge funds is Renaissance Technologies controlled by Jim Simons. And it is completely unlike an investment firm. Renaissance has about 60 top brains from Japan to Cuba who have done mathematics, physics, astrophysics, statistics, number theory, computer science and computational linguistics. Some of them are former professors of mathematics who have taught...

Current Crisis and India
In the discussions on the current crisis, most people say that India is merely affected by what happened in the US, Europe, etc, and the crisis is not of our making. This is only partially true. With all due respect to the honourable prime minister, finance minister, deputy chairman of Planning Commission and other bigwigs, let us also be aware that the current UPA...