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Einsteinian economics

A recent statement by the Union minister for commerce (and railways) Piyush Goyal gave rise to a small storm of commentary — some gently amused, and some ill-natured. Goyal — after a meeting of the Board of Trade, and in the context of a target of $1 trillion for Indian exports — suggested that we should not be interested in discussions about the composition of such targets, as seen in the media, which he paraphrased as follows: “If you’re looking at a five trillion dollar economy, the country will have to grow at 12%. Today it’s growing at 6%”. Doing …

Source: Business Standard