Prophetic ‘Paul’ gets the best

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The academician and not the critic gets the Nobel

US Economist and noted columnist, Paul Krugman, credited with integrating disparate fields of international trade and economic geography, has been awarded the Alfred Nobel prize in Economics. Krugman, better known for his fierce criticism of US President George W Bush’s administration, is a professor of Economics and International affairs at Princeton University and a regular columnist with New York Times and The Sunday Indian (TSI). Invariably his columns highlight one single motif: the economic policies pursued by the US administration has sparked off the current financial crisis. Nevertheless, it is the academician and not the critic Krugman who has been awarded the Nobel prize.

The Royal Swedish Academy of Sciences, decided to award Krugman for his ground-breaking theory on international trade practices. Krugman propounded this theory in his paper published in 1979 in which he argued that consumers want diverse products and countries benefit from economies of scale. This allowed the lowering of prices and greater product diversity as compared to a situation where each country produces for its domestic market without international trade.

Krugman was among the first to predict the Asian financial crisis of 1997-98. A critic of fixed exchange rate system maintained by some countries, he predicted the fall of Long Term Capital Management even before it went under, because of its dependence on returns from fixed exchange rates. During his visit to India in 1997, Krugman advised that weak banks in India should be closed and not kept operating simply because they provide jobs.

A passionate Bush critic, he opposed the $700 billion bailout package arguing that it will only help increase the US deficit. It is a well argued fact that decreased collection of taxes, increased government expenditure and the war in Iraq are slowly taking US to the brink of disaster.

Krugman is amongst the few academician who dominate popular consciousness. A YouTube video featuring Krugman on “Meet the Press” has been till date viewed by more than 100,000 people. That makes Krugman globally Noble!


Ankur Chandra


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Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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The Secret History of Kim Jong II

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Few people have the chance to watch a shy young man grow into a ruthless dictator – and live to talk about it. But, for one North Korean professor, Kim Jong Il is much more than the man holding his country hostage. He’s a former student. By Kim Hyun Sik

Ifirst met Kim Jong Il in October 1959. He was a senior at the elite Namsan Senior High School, and I was a 27-year-old professor of Russian at the Pyongyang University of Education. I also happened to have been chosen as a private tutor for the family of North Korean President Kim Il Sung. One day, the Great Leader remarked that he found his son’s Russian to be very poor and told me to go to his school and evaluate both Kim Jong Il’s proficiency and the quality of Russian education there. Handpicked by Joseph Stalin to rule over North Korea and a fluent Russian speaker himself, Kim Il Sung deemed study of the language essential to relations with the Soviet Union, North Korea’s biggest political, economic, and military patron. At the school, I attended every Russian class, made evaluations, and then summoned the 17-year-old Kim Jong Il into the principal’s office. The principal, one of the school’s Russian teachers, and I, in accordance with Kim Il Sung’s orders, jointly administered an oral Russian exam for Kim Jong Il.

Just a young student at the time, the examinee appeared to be extremely nervous sitting alone for an oral exam before the three of us – especially one arranged at his father’s behest. The shy boy with puffy, red cheeks responded meekly to each question I posed.

“Please open the book, Ri Su Bok, the North Korean Matrosov, and translate it,” I told Kim. He proceeded to read passages slowly from the book and translate them into Korean. His translations weren’t outstanding, but he managed to read and translate the text sans error. After a while I said, “Please summarise the contents of the book.” “You mean in Korean?” Kim asked. “No. Russian, of course,” I replied. Looking a bit flustered, he began in halting Russian, which seemed to lag behind his reading and translation.


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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‘Nestléd’ in Levers!

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Unilever’s strategy to hire an outsider is a step in the right direction

Behind 400 brands across 14 categories; behind employment to 180,000 people in more 150 countries and behind an entity worth $84 billion, there is just one name – Unilever, which could lay claim to the title of FFMCG (Frankenstein of Fast Moving Consumer Goods; er... ok, we made that up!). Founded in 1884 as Lever & Co., Unilever is one of the few global companies, which have stood the heat of three long centuries. What is even more remarkable is that all their CEO appointments have been insider stories.

Till now that is. Patrick Cescau, who held the mantle of Group CEO for the last four years, was expected to retire by the end of this year. Since March 2008, analysts were betting upon one of four internal candidates to be promoted at the helm of the organisation. And then came the real shocker. With the announcement of second quarter results came the news of it roping in Paul Polman, arch rival Nestlé’s Executive VP and Head of Zone, Americas as Group CEO. How easy will it be for this 52-year-old Dutchman to fit into Cescau’s shoes?

Polman, an alumni of University of Northumbria at Newcastle, UK, started his career with Proctor & Gamble (P&G) in 1979, where he spent a sterling 27 years of his life. He bid adieu to P&G in 2006 as Group President, P&G Europe. His next big move was at Nestlé as its CFO and within two years of his appointment at Nestlé, he was elevated to his current post. On the occasion of his appointment, Michael Treschow, Chairman of Unilever asserted, “Paul is a great talent with significant international experience and an excellent track record.”


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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This “directional liberalism” of China’s politics either preceded or accompanied China’s economic growth.

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The change in direction of China’s politics was sufficiently credible to encourage millions of entrepreneurs to go into business for themselves.

One of the first acts by the reformist leaders was to signal an improving environment for private property. In marked contrast to today’s massive land grabs, the Chinese government in 1979 returned confiscated bank deposits, bonds, gold, and private homes to those former “capitalists” the regime had persecuted. In 1979, two vice premiers visited and personally congratulated an entrepreneur who was granted the first license to operate a private restaurant in Beijing. As early as 1981, a Communist Party document signaled a willingness to recruit its members from the private sector, a well-publicised gesture. The widely held view that the party only began to recruit capitalists late in the Jiang Zemin era is simply incorrect.

The reformist leaders also began to embark on meaningful political changes. As scholar Minxin Pei has noted, every single important political reform – such as the mandatory retirement of government officials, the strengthening of the National People’s Congress, legal reforms, experiments in rural self-government, and loosening control of civil society groups – was instituted in the 1980s. The Chinese media became freer in the early reform era. This “directional liberalism” of China’s politics either preceded or accompanied China’s economic growth. It was not a result of economic success. The change in direction of China’s politics was sufficiently credible to encourage millions of entrepreneurs to go into business for themselves.

But in the 1990s, the Chinese state completely reversed the gradualist political reforms that the leadership began in the 1980s. Like Indira Gandhi in the 1970s and 1980s, the Chinese state greatly centralised its economic management in the 1990s. It was another reversal from the promising reforms of a decade earlier, the gist of which was delegating decision-making to those best informed about local situations. In 1994, the central government increased the shares of tax revenues going to the central coffers and abolished one of the most innovative Chinese reforms – fiscal federalism. A less well-known development in the 1990s was that the Chinese state centralised the budgetary and other functions of villages. So, even though people were voting in village elections, the officials elected exercised very little power.


For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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IIPM in Financial times (Print Version)
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The Hindu : Education Plus : Honour for IIPM
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Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
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Who SEZ so?

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They’re the biggest loss makers

There was quite a lot of apprehension regarding Special Economic Zones (SEZ) since their inception. The recent review on SEZ by Comptroller and Auditor General (CAG) fortifies the same apprehension. CAG review concluded that these SEZ are favouring corporates at the cost of state revenue. The review further proves that there were systemic weaknesses that caused lost revenues to the tune of Rs.246.72 crores and an irrecoverable loss of Rs.1,724.67 crores.

Moreover, due to subsidy and tax holiday, the government had a loss of Rs. 8,842 crores [during the period 2000-01 to 2005-06] against an estimate of Rs.2,146 crores. Even the duty freedom was not given once but twice – once on the inputs used and again on the finished products from the SEZs. The duty foregone on the inputs are irrecoverable as there is no provision of paying back.

It’s quite cleat that SEZs [that are framed on half-backed logic and parameters] will do more harm than good. The latest report by CAG makes it important to re-think on the modus operandi of SEZ. It’s important to think on SEZ with respect to revenue losses and tax holidays. The current discussion of impact of SEZ on agriculture has actually overshadowed the matter of revenue loss by SEZ. The CAG’s report has again proved the apprehension true and also has added a new dimension that SEZ are economic disasters as well.


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Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


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B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
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1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
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Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
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Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
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I invented the $3 trillion war!

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Bush prepares US for bigger engagement in Afghanistan and Iraq

Desiderius Erasmus, one of the greatest pacifists of all time, said, “War is delightful to those who have had no experience of it.” So, it is not surprising that US President, George W. Bush, who managed to avoid serving in Vietnam War by joining the Texas Air National Guard, is immensely enjoying it. Bush on May 2 laid out a detailed request for $70 billion to fund his war on terror that is going on in Iraq and Afghanistan.

Most of this $70 billion will be used to fund the wars after October 1 when a new president will be in office. The request will be shortly debated by the House of Representatives and if Congress approves this fund it will bring the total allocation for the wars in Iraq and Afghanistan to over $800 billion. Apart from the outright lies and laughably absurd falsehoods the Bush Administration gave to justify the war, it said before the invasion started that the war would cost between $50 billion to $60 billion; but now it is spending that amount up front every three to four months. In their book “The Three Trillion Dollar War”, Nobel Prize-winning economist, Joseph Stiglitz, of Columbia University and Harvard University professor Linda Bilmes have estimated the real cost of war to be $3 trillion.

This is the first time in the US history a war has been financed entirely by borrowing, largely from abroad. During the Vietnam War and Cold War, taxes were raised to meet the expenses but now Bush has cut taxes during this war and already added some $800 billion to the national debt. The largest profiteers are giant oil companies and the large defence contractors. The biggest losers are Iraqi people. The three trillion dollar burden on the US economy is nothing if we compare it with the plights and inexplicable suffering of Iraqi people. As Noam Chomsky said, if the Nuremberg laws were applied, then every post-war American president would have been hanged. George Bush Jr could well lead that pack.


K. Thirunavukkarasu


For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

ZEE BUSINESS BEST B SCHOOL SURVEY

For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
domain-b.com : IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...

What? It’s not unlimited?!

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Global dynamics in the light of water that’s getting scarcer

D o transboundary rivers trigger inter-state conflicts or encourage cooperation? Klaus Toepfer, former director-general of the United Nations Environment Programme had prophesied possibilities of distinct wars over water issues a decade ago. Tensions escalated between the US and Mexico when Mexico extracted water for irrigation from rivers in America’s land. One of the prime reasons for Israel’s invasion over Gaza strip was getting control over the river Jordon. Syria and Iraq kept on accusing Turkey for not giving enough accessibility to water of The Euphrates’s river basin and digging dams one after another. But the severities and gruesome ramifications of fights for water are more visible in the poorest continent Africa. Hundreds died in battles between Uganda, Ethiopia, Sudan and Egypt. Tensions reaches to the peak when Ethiopia set up irrigation projects in the Nile which restricted water flow to Egypt.

Surprisingly, the issue has taken a new twist with a recent report revealed by Oregon State University stating that transboundary rivers have led to more cooperation than conflicts in history. With over 263 transboundary rivers, over 400 inter-state treaties have been signed & only in 20 cases has violence been reported. The Indus river pact survived even after two deadly wars between India and Pakistan. Palestine and many West Asian countries will be more dependent on Israel once it succeeds in extracting drinkable water from sea.

Thus, to conclude, there may not be formal military wars, but surely conflict, discontent or tension will keep on rising as countries develop and water gradually becomes scarcer. Perhaps it’s time that the United Nations, instead of worrying about global warming, starts worrying about drawing up a global water treaty.


Akram Hoque


For more articles, Click on IIPM Article.

Source : IIPM Editorial, 2008

An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).


Read these article :-
B-schooled in India, Placed Abroad (Print Version)
IIPM in Financial times (Print Version)
IIPM makes business education truly global (Print Version)
The Indian Institute of Planning and Management (IIPM)
IIPM Campus

ZEE BUSINESS BEST B SCHOOL SURVEY

For More IIPM Info, Visit below mentioned IIPM articles.
1500-plus IIPM students placed across the country with 44 bagging international offers
IIPM set to beat economic slowdown
IIPM, GURGAON
IIPM - Admission Procedure
IIPM awards four Bengali novelists
The Hindu : Education Plus : Honour for IIPM
IIPM ranked No.1 B-School in India, Management News - By ...
IIPM Ranked No1 B-School in India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
» IIPM ranked No1 B-School in India :: Education, Careers ...
The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
domain-b.com : IIPM ranked ahead of IIMs
IIPM makes business education truly global-Education-The Times of ...