A Bizarre drama is unfolding in front of our eyes. The Modi government which has been giving away hundreds of thousands of crores of rupees as tax concessions to the monopolists has expressed its opposition ironically to what it calls…
The hegemony of the US dollar was based on the fact that the world’s wealth-holders considered it to be “as good as gold”, even when it was no longer officially convertible to gold at a fixed rate, as it had…
There are many misconceptions about Scandinavian capitalism. A very common one is the belief that since the Scandinavian countries developed vigorous capitalist economies, without ever having acquired any colonies of their own, they constitute a clear refutation of the claim…
The craftiness of imperialism is boundless. In several countries of the world at present there are neo-fascist governments, propped up by their respective big bourgeoisies (all aligned to globalized capital), and implementing neo-liberal policies with their characteristic ruthlessness; in many…
Adam Smith and David Ricardo had been haunted by the idea of capitalism ending up in a “stationary state”, by which they meant a stable state of zero growth. Marx used the term “simple reproduction” to describe such a state,…
Central banks all over the capitalist world are raising, or are about to raise, interest rates as a means of countering the currently rampant inflation, which is certain to push a world economy that is barely recovering from the effect…
The chancellor of the exchequer of Britain, whose official residence is only next door to the British prime minister’s, is Rishi Sunak, a person of Indian origin. Britain’s home secretary is Priti Patel, also of Indian origin. The US vice-president…
For over two years now, the world has been facing a pandemic the like of which has not been seen for a century, and which has already taken 15 million lives according to the WHO, without being anywhere near an…
Russia and Ukraine together account for 30 per cent of the world’s wheat exports. Many African countries, in particular, are heavily dependent on them for their food supplies, which are now getting disrupted because of the war; and this disruption…
So much has been written on the Sri Lankan economic crisis that the facts are by now quite well-known (see for instance C P Chandrasekhar, Frontline April 22): the massive build-up of external debt; the huge Value Added Tax concessions…
