We formulate and disseminate unanimously agreeable rational rules of governance for individual freedom and civilized coexistence of humanity. These rules attain in general equilibrium of the economy based on the most comprehensive unbiased mathematical model - ever written in the literature - of the microeconomic game among leveraged firms and households, cost minimizing not-for-profit government and free markets.  We disseminate of information about these policies, pro bono, through published material via internet, e-mail, postal service and direct contact.  This site is administered by Dr. Sankarshan Acharya.

Sankarshan Acharya (Ph.D. in Finance, Northwestern U, 1986; Master of Technology in Industrial Management, Indian Institute of Technology, 1977), Director of Research Center on Finance and Governance (2010-present), Associate Professor of Finance at UIC (1995-present), Financial Economist at Board of Governors of the Federal Reserve System, Washington, D.C. (1990-1995), Assistant Professor of Finance at NYU (1986-1990), Advisor to the Board of Directors of Galgaocar Group, Goa (1981-1983), Lecturer, National Institute of Industrial Engineering, Mumbai (1979-1981), and Scientist C, Council of Scientific and Industrial Research - India (1977-1979).*

Dr. Acharya has accomplished a record of nonpareil peerless research on financial economics which include the following:

A. Discovered a fundamentally fair (constitutional) and unanimously agreeable system (rules) to govern the economy for stability and efficiency.  The discoveries include the following unanimously agreeable rules:

B. Vigorously pursued with lawmakers to supplant the currently established fundamentally unfair (unconstitutional), inefficient and unstable system which facilitates surreptitious usurpation of individual and common wealth and makes a few indolent usurpers unseemly rich and powerful by subjugating the true wealth creators to second-best sustenance. [See numerous memos submitted to US Presidents and Lawmakers and made available at pro-prosperity.com

C.  Proved in a more comprehensive mathematical model of microeconomics (designed to generate macroeconomic policies) than any in the extant literature that the fundamentally fair and unanimously agreeable rules of governance attain in general equilibrium of the economy.

D. Proved that the currently established system is fundamentally unfair (unconstitutional), economically inefficient (leading to decay in competitiveness) and unstable (leading to social unrest) in a paper published in 2013 in the Journal of Financial Transformation which claims to have 18 Nobel Laureates as authors.

E.  Showed that the currently established system of governance is driven by self-serving, dogmatic-biased models- pursued over centuries by the elite academy of economics and finance to serve the best interests of Robber Barons and Lawmakers embedded in a game of 'moral hazard' that ultimately decimates everyone's freedom.[3] 

F.  Shown that the extant dogmatic-biased models have shaped the 'modern philosophy,' which is antithetic to the unanimously agreeable philosophy of governance attained in general equilibrium of an unbiased model of microeconomics.

Despite (and perhaps because of) the mighty vested interests suppressing Dr. Acharya's research and his career, he has ultimately triumphed as the only peerless discoverer of a unique nonpareil philosophy of governance of the economy, which is not only unanimously agreeable but also fundamentally fair and needed for economic stability and efficiency.  Piling evidence about triumph of the unanimously agreeable and fundamentally fair philosophy of governance is presented in several papers and memos available at pro-prosperity.com and, in particular, at http://pro-prosperity.com/triumphantphilosophy.pdf . The unanimously agreeable principle of governance is absolute and unique epistemic truth.  Such epistemic truth always triumphs.  This is why even the world's most powerful Robber Barons known as the Masters of the Universe and their gurus in the elite academy with their controlled journals and publishing houses eventually failed to block nonpareil research on unanimously agreeable principles of governance as the following significant events indicate:

--------------------------

*Dr. Acharya has received Ph.D. degree in finance with an award for “excellent performance in doctoral program” from the Kellogg Graduate School of Management at Northwestern University, and Master of Technology in Industrial Management from the Indian Institute of Technology and has studied throughout with merit scholarships and fellowships. 

Dr. Acharya has published major papers in top journals like the Journal of Finance, International Economic Review, Journal of Banking and Finance, Financial Analysts Journal and Journal of Risk Management in Financial Institutions.  One of his papers on optimal bank reorganization and pricing of federal deposit insurance has been on the required reading list of bank regulatory agencies and another on valuation of latent assets has been used in textbooks on econometric estimation of the value of latent information released by firms.  Dr. Acharya’s research has sparked a lot of excitement, resulting in invitations from the U.S. Congress to help draft the U.S. bank regulatory law. He has helped the Federal Reserve Board in establishing optimal bank capital standards, and advised the Federal Deposit Insurance Corporation on deposit insurance reforms.

Dr. Acharya’s current research includes simultaneous determination of (a) fundamentally fair, first-best efficient and stable rules of governance of financial institutions and market making bodies and (b) arbitrage/fair pricing, valuation of total risk of assets; in general long-run dynamic equilibrium models involving capital structure, dividend payout and game theory.  He currently teaches Options and Futures Markets and Fixed Income Securities at University of Illinois at Chicago. His research is selfless and independent without any funding from vested interests. 

 

[1] Acharya, S. (2016), "Unanimously Agreeable Safe Central Banking," http://pro-prosperity.com/Unanimously-agreeable-Safe-Central-Banking.html
[2] Acharya, S. (2012), "Economic Inefficiency and Unconstitutionality of Short-selling and Privileged Private Market Clearing," Journal of Investment Management and Financial Innovations, http://pro-prosperity.com/Research/Sub-Optimality%20of%20Short%20Selling.pdf
[3] Acharya, S. (2013), "Constitutional Capitalism for First-best Efficient Governance, Obtained in general equilibrium based on rational microeconomic analysis, devoid of parochial dogmas, politics or prejudice," http://pro-prosperity.com/Constitutional%20Capitalism.html
[4] Acharya, S. (2013), "Constitutional System of Money and Finance," http://pro-prosperity.com/Research/Constitutional-Monetary-Finance-System.pdf

[5] Acharya, S. (2014), "Federal Reserve now admits that Moral Hazard in Banking and Finance is a serious problem," http://pro-prosperity.com/Federal%20Reserve%20Now%20Admits%20that%20Moral%20Hazard%20in%20Banking%20and%20Finance%20is%20a%20Serious%20Problem.html
[6] Acharya, S. (2014), "Federal Reserve now admits that its Models Do not Work," http://pro-prosperity.com/Federal%20Reserve%20Now%20Admits%20its%20Models%20Don't%20Work.html

[7] http://pro-prosperity.com/triumphantphilosophy.pdf