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Yearly Archives: 2024

Home 2024

Capitalist Trap for Scientific Advances

  • March 18, 2024
  • Prabhat Patnaik
  • Development Economics, Monetary Policy
  • 0 Comments

There is a paradox at the core of the efflorescence of science that has occurred over the last millennium. In essence this efflorescence has the potential to increase human freedom immensely. It increases the capacity of man within the man-nature dialectic; scientific…

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Subtle War at the WTO

  • March 7, 2024
  • C. P. Chandrasekhar
  • Trade and balance of payments, World Economy
  • 0 Comments

At the time of writing, the 13th ministerial meet of the World Trade Organisation (WTO) is under way in Abu Dhabi. Among the many issues that are being discussed are two of concern for less developed countries generally and India…

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Making Sense of the Latest Consumption Survey

  • March 5, 2024
  • Jayati Ghosh and C. P. Chandrasekhar
  • Economy and Society, Poverty
  • 0 Comments

For well over a decade, policy makers and citizens had little idea of the extent of income poverty or economic inequality in India, because of the absence of official survey data on consumption expenditure, which have formed the basis of…

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Federal Fracture: A nation in crisis

  • February 22, 2024
  • C. P. Chandrasekhar
  • Economy and Society, Political Economy
  • 0 Comments

Indian federalism is on the verge of breakdown. Ministers from opposition-ruled States have taken to the streets in New Delhi to protest against discrimination by the Centre. And the Prime Minister, who leads the use of a divisive majoritarian agenda…

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Maldives: Debt and dependence

  • February 20, 2024
  • C. P. Chandrasekhar and Jayati Ghosh
  • Finance, World Economy
  • 0 Comments

As the distance between Maldives and India widens, with the latter being asked to withdraw its uniformed personnel stationed in the former, questions are being asked about how Maldives will manage without India’s help on the economic and regional security…

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The Descent into Barbarism

  • February 19, 2024
  • Prabhat Patnaik
  • Economy and Society, World Economy
  • 0 Comments

In The Junius Pamphlet written from jail in 1915, Rosa Luxemburg had said that the choice before mankind was between barbarism and socialism. Liberal opinion would contest this, arguing that the barbarism that marked the two world wars and the…

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The Budget and the Inversion of Reason

  • February 12, 2024
  • Prabhat Patnaik
  • Finance, Political Economy
  • 0 Comments

The BJP government holds that truth is what Modi says; if evidence points otherwise then evidence must be wrong and should be suppressed. Modi says that India never had it so good as during the last decade of his government;…

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Distress and Displacement in Times of War

  • February 9, 2024
  • C. P. Chandrasekhar
  • Political Economy, World Economy
  • 0 Comments

Recruitment drives held over the last week of January, in Lucknow in Uttar Pradesh and Rohtak in Haryana, for Indian workers to undertake construction and caregiver jobs in Israel have captured global attention. Thousands of job aspirants, who had either…

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The Mystery about Investment

  • February 6, 2024
  • Jayati Ghosh and C. P. Chandrasekhar
  • Finance, Macroeconomics
  • 0 Comments

One persistent macroeconomic concern in the Indian economy over the past decade has been the continuing decline or stagnation in investment rates. The decline began after 2010, that is before the tenure of the Modi government, but it continued thereafter.…

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What the GDP Hides

  • February 5, 2024
  • Prabhat Patnaik
  • Finance, Macroeconomics
  • 0 Comments

There are well-known problems associated with the concept of gross domestic product as well as with its measurement. The inclusion of the service sector within GDP is something that Adam Smith would have objected to on the conceptual grounds that…

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