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The economic angle to TMC s win in Bengal - The Hindu BusinessLine
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South Africa: When Strong Institutions and Massive Inequalities Collide
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Elinor Ostrom was the first woman to win the Nobel Prize in economics. She has been at the forefront of New Institutional Economics and Public Choice revolutions, discovering surprising ways in which communities around the world have succeed in solving difficult collective problems. She first rose to prominence by studying the police in metropolitan areas in the United States, and showing that, contrary to the prevailing view at the time, community policing and smaller departments worked better than centralized and large police departments. Together with her husband, Vincent, they have set up the Bloomington Workshop in Political Theory and Policy Analysis, which has grown into a global network of scholars and practitioners. Throughout her career, she was interested in studying ecological problems, and understanding how people manage communal properties. Her most famous discovery is that communities often find ingenious ways of escaping the tragedy of the commons . Analysing a wide-v
David K. Leonard is Professor Emeritus of Political Science at the University of California, Berkeley (USA) and Professorial Fellow in Governance at the Institute of Development Studies in Sussex University, UK.
Formerly Dean of International and Area Studies at the University of California, Berkeley, Professor Leonard has spent his career, dating back to 1963, working on governance issues in sub-Saharan Africa. He has lived for over a dozen years in four African countries and done short-term work in another 17.
His graduate teaching and supervision of doctoral candidates (of which he has had over 60) have covered governance issues in the whole of the developing world. The theme underlying most of his work has been methods of improving the delivery of public services in the rural areas of Africa, both directly through managerial and policy reform and indirectly through partnerships with private actors. He has contributed to organisation theory, the New Institutional Economics, and
Money
From the very start, England s 17th century colonies in America had a problem – a shortage of coins
[T01] The British idea was to grow large amounts of tobacco, cut timber for the ships of their global navy and merchant marine, and so forth, sending in return the supplies they felt were needed to keep the Americans working. In effect, early colonists were supposed to both work for the company and shop at the company store. The investors and the Crown much preferred this to paying in coin what the farmers might ask, letting the farmers themselves buy the supplies – and, heaven forbid, keep some of the profit as well.
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