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Legalize Electoral, Governance & Political Corruption? Prasad Rao gprasadrao@hotmail.com ; gprasadrao.blogspot.com; gprao64.blogspot.com Evernote: gprao Click  here  for a pdf The Context Elections are not just in the news, the media is thick with it, and the soundwaves are jamming our 4G-hot, rock’n roll ‘Play’ videos! India is once again host to the grand show – bigger than the Kumbh or the IPL TV audience, and rivalling any other mass gathering, even globally. But this column is not about how, or why these elections are portrayed as ‘Vote-now-for-your-Diwali-tomorrow’ event. It’s about the financial ethics behind this constitutional requirement that empowers citizens of this country to elect their Political Government for another term. Running a successful pan-India campaign to elect 545 representatives to the Lower House is not an everyday task, even if that event is administered and financed in part by the purportedly independent Election Commission of India. The stakes are s

Prasad Rao Energy, Environmental and Mineral Economist gprasadrao@hotmail.com ; gprao64.blogspot.com Click here for the pdf Introduction Externalities generated in the global Nominal economy transcend space, time and media, even spill over to social and economic contexts. These externalities are either immediate and acute such as are safety accidents – whether at or away from production centers, diffuse such as the global buildup of ambient CO2 concentrations over time, distributed and fugitive such as emissions from the transportation sector, inter-media and inter-jurisdictional as exemplified by criteria pollutants from point sources, and discharge of industrial effluents and household sewage in to rivers, or remotely cumulating as are NIMBY solid waste dumps. Initiatives such as SESH Bonds well-known externality-correcting instruments that accompany the political management of nominal economic growth. These instruments have, on one hand, concentrated on externalities that limit econ