Gold: Economists need to change

Macro economists in India perceive gold as a wasteful asset and as the villain of the Indian economy. But gold has repeatedly emerged as the winner against economists, confounded their theories and perplexed them. (Gold: villain or saviour? Business Line, October 4, 2013). The unwavering Indian attitude to gold through history should persuade our economists to rethink their views on gold, particularly in the case of India.

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