Economics and the Tangle of Abstract Theories and Mathematical Rigor

Elinor Ostrom, the sole woman to win the Nobel Prize in Economics, passed away in the year 2012. In her path breaking work Governing the Commons: The Evolution of Institutions of Collective Action, she challenged the assumptions of the Tragedy of the Commons concept by demonstrating how local communities worldwide had been sustainably managing common … More Economics and the Tangle of Abstract Theories and Mathematical Rigor

‘Hate Crime’: What Does it Portend for the US Soft Power?

With the recent killings of an Indian engineer and two Indian American citizens, the soft power discourse has revivified in the emotionally-charged atmosphere in the United States. More than a decade ago, the American scholar Joseph Nye had urged the American leadership to embrace the power of seduction, attraction and co-optation and to forgo reliance … More ‘Hate Crime’: What Does it Portend for the US Soft Power?