The 2007-09 financial crisis and the lackluster performance of the global economy since, has led to ‘great criticism’ of innovation in the domain of finance. After all, dicey financial products and opaque mortgage-backed securities did play a dubious role in the run-up to the global crisis. However, given incomplete markets, financial innovation can bring about [...]

‘No fresh investment is being made in industries.” Month after month the basic indicators of economic growth are showing red signals, one more foreboding than the earlier one. Industrial production had been registering slower and slower growth for many months now and  the latest figures have actually moved into the negative territory. The minus  5.1 [...]