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Yearly Archives: 2024

Home 2024

Trump’s Threat of a Tariff Wall

  • December 30, 2024
  • Prabhat Patnaik
  • Development Economics, World Economy
  • 0 Comments

Donald Trump is threatening to use tariffs as a weapon against other countries. He has already made three threatening statements: first, he threatened the BRICS countries that if they dared to move away from the dollar, then they would have…

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Disempowering the People

  • December 23, 2024
  • Prabhat Patnaik
  • Economy and Society, Employment
  • 0 Comments

The aim of all fascistic governments is to disempower the people; and the Modi government is no exception. The Mahatma Gandhi National Rural Employment Guarantee Scheme (MGNREGS) which promised one member in every rural household a maximum of 100 days…

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The Hegemony of the Dollar

  • December 16, 2024
  • Prabhat Patnaik
  • Finance, World Economy
  • 0 Comments

Kliberal opinion holds that the international monetary and financial system is a device for promoting the interests of all participating countries by providing a convenient payments arrangement within which trade can be carried on. The reality however is altogether different:…

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Neoliberalism and before

  • December 9, 2024
  • Prabhat Patnaik
  • Trade and balance of payments, World Economy
  • 0 Comments

Karl Marx had once said that all criticism must begin with the criticism of religion. Paraphrasing Marx one can say in the current economic context that all criticism must begin with the criticism of the GDP. This conceptually and statistically…

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Defining Socialism

  • December 2, 2024
  • Prabhat Patnaik
  • Economy and Society
  • 0 Comments

Hearing a petition on November 22 to remove the term “socialism” from the Preamble of the Indian Constitution, the Chief Justice of India made two significant observations: first, the term “socialism” in the Preamble of the Constitution is used not…

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COP29: The message from Baku

  • December 1, 2024
  • C. P. Chandrasekhar
  • Climate Finance
  • 0 Comments

When Azerbaijan as the Presidency of this year’s Conference of Parties (COP29) held at Baku, in Azerbaijan, informed delegates working on extended time that participating countries had arrived at an agreement, there were many who disagreed. India, using an odd…

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The COP29 Collapse

  • November 26, 2024
  • C. P. Chandrasekhar and Jayati Ghosh
  • Climate Finance, World Economy
  • 0 Comments

Extended by a day in a show of symbolism, this year’s climate summit, the 29th Conference of Parties (COP29), ended in collapse. The widespread consensus that this was the case concealed, however, differences as to what reflected the collapse. Developed…

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Diplomacy as Diversion

  • November 25, 2024
  • C. P. Chandrasekhar
  • Climate Finance
  • 0 Comments

In global climate negotiations, that continued at the twenty ninth edition of the Conference of Parties (COP29) in Baku, Azerbaijan, there is agreement on one issue. If the international community has to take forward a multilateral agenda to keep global…

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Fiscal Transfers to Capitalists

  • November 25, 2024
  • Prabhat Patnaik
  • Fiscal Policy
  • 0 Comments

It is common for governments these days to provide fiscal transfers to capitalists, whether through reduced corporate tax rates, or by providing direct cash subsidies, to encourage greater investment by them and thereby stimulate the economy. During Donald Trump’s first…

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The Crisis of Liberalism

  • November 18, 2024
  • Prabhat Patnaik
  • Political Economy
  • 0 Comments

Trump’s victory in the US Presidential election conforms to a pattern presently observable across the world, namely a collapse of the liberal centre and a growth in support either for the Left, or for the extreme Right, the neo-fascists, in…

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New on Macroscan
  • Global South will pay for Trump and Netanyahu’s war March 7, 2026
  • India’s Trade Deals: Giving more, Getting less February 13, 2026
  • Will Democracy Govern Capitalism – or be consumed by it? February 7, 2026
  • The EU-India FTA is a net loss for India’s Future February 6, 2026
  • What’s Really Going on in the Indian Economy? February 5, 2026
  • China’s Trade Relations Need Reform January 21, 2026
  • A Gangster’s-Eye View of Global Power January 15, 2026
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