Unlike in the advanced capitalist countries, a reduction in employment opportunities in India takes the form not of a larger proportion of the work-force being shut out of employment, but of almost everyone having lesser number of days of work.…
As COVID-19 infection rates fall and demand revives the world over, the new global fear is that persisting supply chain disruptions could trigger inflationary trends that would be more than transitory. In India, however, the consumer price index that was…
A charade played out in the weeks preceding the fall meetings of the IMF and the World Bank has subsequently occupied time that should have been devoted to more crucial issues such as a looming debt crisis, inequalities in vaccine…
It is by now well known that three decades of financial globalization have led to massive increases in income and asset inequalities in the United States and Europe. But in the developing world, the effects of financial globalization have been…
The Doing Business controversy has shaken the confidence in the Bretton Wood institutions, but it must not obscure the real problems with their functioning - the disproportionate power of the US; the IMF’s deeply procyclical approach to countries that seek…
The period of neo-liberalism witnesses an increase in the share of economic surplus in total output both in individual countries and also for the world as a whole. This is because the “opening” up of the economy to freer trade…
The trade-and-technology war between the US and China effectively began in 2018. On July 6, 2018, US President Donald Trump unilaterally imposed a 25 per cent tariff on Chinese imports of around $34 billion, and further tariffs in 2018 and…
China’s Evergrande group, identified as the world’s most indebted property company with accumulated liabilities in excess of $300 billion, missed an interest payment instalment due on September 23, 2021 on bonds borrowed through US dollar bond markets. Though the company…
Marxist theory develops with changing times, as capitalism itself develops, which is why it remains a living doctrine. On the question of the role of the peasantry in the revolutionary process that leads to the transcendence of capitalism, there have…
The International Monetary Fund has announced a fresh issue of $650 billion Special Drawing Rights in August which would be distributed among member countries in proportion to their IMF quotas. This amount is less than what had been demanded by…
