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The stock market is not a useful proxy for economic welfare. It tracks the well-being of an elitist minority in the formal sector, albeit with trickle down benefits. (By arrangement)Opinion
Sanjeev Ahluwalia | The morality of stock markets

Capital intensive competitive 'games' have a funneling effect where the biggest players benefit disproportionately

13 Jun 2021 7:14 AM IST

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