Cornell economist Kaushik Basu, the C. Marks Professor of International Studies, professor of economics and chief economist of the World Bank from 2012-16, writes in this New York Times opinion piece, that the Indian government's decision to "demonitize" its currency may have greater long-term side effects than expected.
"India’s economy has enormous strengths — such as high rates of savings and investment — and this crisis will pass," Basu writes. "But just as sailors heading to sea disregard the winds and waves at their peril, economic policy makers cannot ignore the laws of economics, and intervene in the market with a blunt and heavy hand, without risking shipwreck."
Serge Petchenyi/Cornell University
From left, Xi Yang, PhD '10, senior lecturer of finance in the SC Johnson College of Business; Christine Ye; Christine Ye Award recipient Margaret E. Foster, doctoral candidate in communication; Cornelia Ye Award recipient Naman Agrawal, doctoral candidate in neurobiology and behavior; Cornelia Ye; and Derina Samuel, associate director of graduate student development at the Center for Teaching Innovation.
NASA, ESA, CSA, Ralf Crawford (STScI)
Artist concept of the gas giant planet WD 1856 b orbiting a white dwarf star. The planet is 7 times larger than the Earth-sized white dwarf it orbits. WD 1856 b has methane and hazes in its atmosphere, which would give it a similar color to Saturn's moon Titan. The white dwarf formed from a star that died 5 billion years ago, and has been cooling ever since, giving it an orange colour similar to the Sun.
Sreang Hok/Cornell University
Dressed in clean-room suits, the Warrior-Scholar Project’s STEM boot camp cohort toured the Cornell NanoScale Science and Technology Facility.
