The Indian economy is currently caught in a vicious spiral of inflation, stagnation, and a widening of the fiscal deficit. And this spiral is set to become even more vicious because inter alia of developments in the world economy. Even…
India is an outlier in terms of low government spending during the pandemic, as we noted last month in an earlier article. Unlike advanced economies and even most developing and emerging market economies, the Indian government did not ramp up…
A crucial component of the imperialist system is the colonisation of third world minds that helps to sustain it. This colonisation is pervasive, but here we shall discuss only academic colonisation and that too relating to the social sciences. Social…
One of the most important arguments advanced by John Maynard Keynes, the renowned economist, was that the operation of financial markets under capitalism is deeply flawed. Such markets are intrinsically incapable of distinguishing between “enterprise” where an asset is held…
In recent years, when the economy as a whole performed poorly, reports on how old and new businesspersons accumulated huge volumes of wealth in short timespans have been commonplace. There is also evidence that conspicuous consumption is on the rise.…
In colonial times, the peasantry had to borrow from private moneylenders. According to Provincial Banking Enquiry Committee reports, these moneylenders in turn borrowed from commercial banks. But while disbursing credit to the peasants and charging exorbitant interest rates, the money…
In the United States there are still four million persons who remain unemployed compared to before the pandemic; and yet the Biden administration’s attempt to stimulate the economy has already run into a crisis with the re-emergence of inflation not…
