Balachandran Govindharajan

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Oxfam: 85 richest people as wealthy as poorest half of the world

The world's wealthiest people aren't known for travelling by bus, but if they fancied a change of scene then the richest 85 people on the globe – who between them control as much wealth as the poorest half of the global population put together – could squeeze onto a single double-decker.<p>The extent …

Euro zone employment shows no change in third quarter

BRUSSELS (Reuters) - The number of people with jobs in the euro zone was unchanged for the second consecutive quarter in the three months to September, showing the bloc’s economic recovery has not yet filtered through to the labour market.<p>People wait in a queue to enter a government-run employment …

Pope Francis understands economics better than most politicians

Pope Francis is a pontiff who has constructively broken all the rules of popery – so far to widespread acclaim. He's faulted the Catholic church for its negative obsession with gays and birth control, and now he has expanded his mandate to economics with a groundbreaking screed denouncing "the new …

Spain's jobless numbers up in October

In Spain, the number of people registered as unemployed rose in October.<p>Job centres saw an increase in jobseekers as those hired for the tourist season were laid off.<p>The increase was especially pronounced in the services and agriculture sectors.<p>EU Economic and Monetary Affairs Commissioner Olli …

Europe's recovery still fragile as eurozone business growth dips

The economic recovery in the eurozone lost some momentum last month.<p>Surveys of company purchasing managers (PMIs) showed only modest growth at businesses in the two largest economies – Germany and France.<p>The surveys showed companies cut jobs at a faster pace in October .. but they also continued to …

How economic growth has become anti-life

Limitless growth is the fantasy of economists, businesses and politicians. It is seen as a measure of progress. As a result, gross domestic product (GDP), which is supposed to measure the wealth of nations, has emerged as both the most powerful number and dominant concept in our times. However, …

Why India’s Economy Is Still in Trouble

Moments after the Federal Reserve said Wednesday that it would keep going with its bond-buying stimulus program, the <i>Wall Street Journal</i>’<i>s</i> Sudeep Reddy blogged, “Wow.” He wasn’t the only one taken by surprise by the move, which came after the Fed had said in May that it might taper the program. Some …

The euro crisis: From acute to chronic