Two divergent measures; Improving arbitration

Two divergent measures

In a turbulent world, there’s a striking contrast between two measures. The most important measure from the financial markets — the level and the volatility of the S&P 500 — is sanguine. The equally important Economic Policy Uncertainty is showing a situation comparable with the early days of the pandemic. How do we reconcile these two views? My column in the Business Standard today, Two divergent measures, tries. Perhaps the equity market is counting on market discipline.

Improving arbitration

A core principle of legal system reform is that more people should have a choice of stepping away from the imperfect state system. Arbitration is a way out, where persons get the time and attention of skilled judges. But at present, in India, arbitration also works poorly. While legal system reform needs to take place, there are many pathways to improve arbitration more rapidly. Prashant Narang and Vishnu Suresh have an article in The Leap Blog, titled The Blind Spot in Indian Arbitration: Fees, Power, and Structural Oversights.