Mr Modi's last chance to jump start the economy

Economic historians will judge him by this, just as they judge P Chidambaram by his bold cuts in income tax rates in 1997 and Manmohan Singh by his 1991 reforms

Now that practically every economy in the world is down on its knees, a question that was frequently asked 75 years ago, when the Second World War ended, is being asked again: How to get them back on their feet and trotting again?

It’s not that hard a question, provided you remember two answers from back then. If you don’t — and it is likely that you either don’t or were never taught it — here it is.

One is known as the Harrod-Domar model. The other is the Big push Theory.

The former is named after a British economist,