Former Reserve Bank Governor Raghuram Rajan has come out openly against the Indian government’s measure of demonetizaton of currency notes in November 2016, in a speech delivered recently at the University of California at Berkeley. Since Rajan is an economist…
As the state election results trickled in on December 11, to the surprise of many, the Sensex after a hiccup rose and closed 190 points above its previous end-of-day level. The following day too, the Sensex moved upwards. This was…
Once again, the World Bank has released a Brief declaring India to be the largest recipient of remittances from abroad. According to the Bank, remittances to India that totaled $65 billion in 2017, are likely to touch $80 billion this…
The so-called ‘synchronised recovery’ that global policy makers periodically refer to, seems to have bypassed much of the world’s working people. According to the just released Global Wage Report 2018/19 of the International Labour Organisation (ILO), the rate of growth…
Nothing shows the crisis of neo-liberal capitalism more clearly than the popular uprising in France that is occurring under the banner of the “Yellow Vest” movement. Thousands are congregating in Paris over week-ends to protest against the intolerable burdens being…
The sheer ineptitude of economic policymaking under prime minister Narendra Modi’s government has been evident from almost the beginning of its tenure. What is also now well-established is the aggressive and rigid approach of the political leadership, which generally pushes…
Third world economies are now facing a reduced export demand for their goods and services for two distinct reasons. One is the world capitalist crisis which entails a reduced aggregate demand in the world economy and hence reduced aggregate exports…
The most significant feature of contemporary capitalism which is of relevance to the world of work is its inability to provide work to a substantial proportion of persons looking for it. This is not just a matter of economic denial,…
Everyone seems to have woken up to the fact that global debt levels are too high and portent difficulties ahead. As Figure 1 indicates, the levels of credit to GDP, which were so high as to be unsustainable and resulted…
