Swaminathan S. Anklesaria Aiyar

Swaminathan S. Anklesaria Aiyar is a research fellow at the Cato Institute, and a columnist for the Times of India.

India Lets Success Happen


China and India have followed vastly different paths to economic success. In China, a dictatorship has implemented its strategic vision with an iron fist. In India, under democracy, every party advocates different policies, so a national vision would be impossible even if people wanted one. Yet this non-strategy has produced 9% annual GDP growth for […]

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Against the Grain


International rice and wheat prices have doubled or tripled in the last two years, but world grain production will reach a record high this year. So how come millions are falling into poverty and starting food riots across the world? The answer lies not in any outsized surge in world demand or fall in world […]

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Sliding Into Recession


After four years of 9% GDP growth, and boasts of overtaking China, Indians are reluctant to believe that the economy is headed for a serious fall. But the stock market has crashed, an indication of the pain ahead. Western observers have lavished praise on India as a rising economic superpower, so many Indians believe we […]

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No More Mr. Rice Guy


Accelerating inflation in India has claimed an unexpected victim: the controversial India-U.S. civil nuclear deal. If the Indian government moves forward in the face of strong domestic opposition, it risks being toppled and forced into an early election. Until recently, it seemed willing to take that risk, but in the last six weeks, consumer prices […]

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The Global Savings Glut and Its Consequences


The world is experiencing an unprecedented glut of savings, driving down real interest rates. It is a good time to borrow rather than lend, and to buy equities rather than bonds. This has implications for central banks, corporations and individual investors. China is investing $3 billion, a tiny fraction of its $1.2 trillion of reserves, […]

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