Three parallel developments that caught media attention over the last month point to the restoration of the hegemony of Finance Capital in the years since the 2008 crisis. They also reveal the likely consequences of the neoconservative backlash, led by…
In an acceleration of a trend towards mega-mergers in the agribusiness area, German pharma and agrochemicals major Bayer has announced an all-cash $66 billion deal to take over American seed major Monsanto. To clinch the deal, Bayer raised its initial…
In the final stretch of his tenure as Governor of the Reserve Bank of India, Raghuram Rajan chose to make one more effort at revving up India’s bond markets. A number of measures aimed at galvanizing the debt market, culled…
On August 9, RBI Governor Raghuram Rajan released the last bi-monthly monetary policy statement that would be drafted under his leadership. No changes were made: the benchmark ‘repo’ rate was kept at 6.5 per cent, the cash reserve ratio at…
In the fourth round of what has become a periodic exercise, the All India Bank Employees Association (AIBEA), the “oldest and largest” trade union in the industry, has released a list of 5,610 wilful defaulters on debt they owe commercial…
July 1991 is widely seen as a watershed month in Indian economic policy making. That was when the Indian government openly declared that it was unwinding the interventionist regime which had been in place since Independence, involving controls on economic…
Britain has voted to leave the European Union (EU). And the managers of global capitalism have their hands full addressing the fall-out of ‘Brexit’, even as their efforts to manage the after-shocks of the crisis of 2008 remain unsuccessful. It…
As the Modi government completes two years in office, one of its major economic programmes—the Make in India initiative—that promised manufacturing growth based on exports, is staring at failure. According to the most recent monthly figure available at the time…
Meeting in mid-April on the side lines of the spring sessions of the World Bank and the International Monetary Fund at Washington D.C., Finance Ministers of the G20 countries seemed overcome by a combined sense of despair and fear about…
At the end of March, Indian private sector steel major Tata Steel, flagship firm of the Tata group, announced that it was closing its steel operations in the UK that are reportedly bleeding losses at the rate of one million…
