Choose the right Nobel winner

Over the last eight years, India picked the wrong Nobel Prize in Economics. Instead of the ideas of Lloyd Shapley and Alvin Roth (winners of the 2012 Prize) and Peter Diamond (2010), we chose Paul Samuelson (1970). Samuelson was a genius but believed in a big state and got his prize for explaining how to reduce unemployment with higher inflation. His work inspired the creation of NREGS. But high NREGS wages and fiscal deficits have stoked inflation, crowded out investment and led to 15 rate hikes in 12 months. 

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