From Bombay to Baltimore: Was the American national anthem composed on a ship built in India at the Wadia Shipyard?

© 2019, Prof. Farok J. Contractor, Rutgers Business School This is an updated and revised version of the June 14, 2018 post: The “Star-Spangled Banner” and an Early Example of Outsourcing: The American National Anthem Was Composed on a Ship Built in India The featured image of the Stars and Stripes above is housed at … Continue reading From Bombay to Baltimore: Was the American national anthem composed on a ship built in India at the Wadia Shipyard?

Advantages and Drawbacks of Undervalued Versus Overvalued Currencies

© 2019 Prof. Farok J. Contractor, Rutgers University UPDATE: See the August 11, 2019 post: Trump Administration Labels China a “Currency Manipulator”: What’s behind the accusation, and who’s right? Also See the Companion Post:  Is the Indian Rupee Undervalued or Overvalued? What Purchasing Power Parity Theory Tells Us Currencies can be undervalued (very devalued) for natural reasons, … Continue reading Advantages and Drawbacks of Undervalued Versus Overvalued Currencies

Is the Indian Rupee Undervalued or Overvalued? What Purchasing Power Parity Theory Tells Us

2019 Prof. Farok J. Contractor, Rutgers University Also See the Companion Post:  Advantages and Drawbacks of Undervalued Versus Overvalued Currencies The basic idea of purchasing power parity (PPP) theory is that money, as such, has no value. It is merely a piece of metal, paper, or plastic—or even a phantasmic electronic entry. What gives money … Continue reading Is the Indian Rupee Undervalued or Overvalued? What Purchasing Power Parity Theory Tells Us

The “Star-Spangled Banner” and an Early Example of Outsourcing: The American National Anthem Was Composed on a Ship Built in India

© 2018, Farok J. Contractor, Rutgers Business School See the updated and revised version of this post, July 11, 2019: From Bombay to Baltimore: Was the American national anthem composed on a ship built in India at the Wadia Shipyard? The featured image of the Stars and Stripes above is housed at the Smithsonian. On several … Continue reading The “Star-Spangled Banner” and an Early Example of Outsourcing: The American National Anthem Was Composed on a Ship Built in India

India Jumps 30 Places Higher in World Bank Rankings: Update on “Thousands of Hindu Gods – Made in China”

© 2017, Farok J. Contractor, Rutgers Business School This is an update to my September 7, 2017 post, in which I described seven reasons why India’s manufacturing competitiveness still lags behind China’s — but also how the Modi government is taking steps to alleviate the bottlenecks. (See reader comments in the original post.) Click for PDF of … Continue reading India Jumps 30 Places Higher in World Bank Rankings: Update on “Thousands of Hindu Gods – Made in China”

Thousands of Hindu Gods – Made in China: Seven Bottlenecks to Indian Manufacturing

NOTE: THIS POST WAS UPDATED ON NOVEMBER 13, 2017. A version of the original post also appeared as an article on YaleGlobal Online October 24, 2017 as  Made in China: Millions of Hindu Gods. An embarrassing tale about India’s manufacturing competitiveness. But there is hope. © 2017, Farok J. Contractor, Rutgers Business School Images of Deities … Continue reading Thousands of Hindu Gods – Made in China: Seven Bottlenecks to Indian Manufacturing

Tax “Amnesty” for Multinationals—But Not for Illegal Immigrants

© 2017 Farok J. Contractor, Rutgers Business School Republicans want a one-time tax of the money currently stashed overseas at a "tax holiday" rate of 8.75 percent, according to the House blueprint, while Trump has called for 10 percent. (Reuters, January 25, 2017)[1] As a professor of International Business I am in favor of ethical business, … Continue reading Tax “Amnesty” for Multinationals—But Not for Illegal Immigrants

Some Reflections on Mahatma Gandhi’s Birthday

© 2014 Prof. Farok J. Contractor, Rutgers University I used to have some doubts about the suitability of Mohandas (“Mahatma”) Gandhi (1869–1948) to participate actively in the governance of post-independence India. Some of his ideas would have been antithetical to the development of large-scale industries, where scale is needed for efficiency. Often portrayed spinning his own … Continue reading Some Reflections on Mahatma Gandhi’s Birthday

What Drives Narendra Modi? – Swami Vivekananda and Hsuan Tsang

© 2014 Prof. Farok J. Contractor, Rutgers University *An expanded version of this article was published in the June 21, 2014 edition of Parsiana—International Zoroastrian Community Magazine as a “Comment” under the title “What drives Narendra Modi? Hindu reformist Swami Vivekananda’s ideals and Chinese traveller Hsuan Tsang have helped to shape the new Prime Minister’s worldview.” Click here for the PDF: What … Continue reading What Drives Narendra Modi? – Swami Vivekananda and Hsuan Tsang

The Indian Election: A Rare Historic Opportunity for Coherent Investment Policies in India

© 2014 Prof. Farok J. Contractor, Rutgers University For the past 30 years, India has been governed by a series of raucous coalition governments. At least some of the caution, vacillation, and even backtracking on investment and taxation policies that have dismayed foreign companies contemplating foreign direct investment (FDI) in India can be attributed to this. … Continue reading The Indian Election: A Rare Historic Opportunity for Coherent Investment Policies in India