The pandemic and the lockdown are certainly causing an absolute shrinkage in the Gross Domestic Product of the Indian economy. But these tend to obscure something very serious that was happening even earlier, namely a real income decline for vast…
I have written about this in the past, but since bad economics comes thick and fast from the representatives of finance capital, especially the Bretton Woods institutions located in Washington DC, there is no harm in my repeating myself. The…
There is much self-congratulatory back-slapping among governments, the World Bank officials and many economists about the “decline in poverty” that is supposed to have occurred between 1990 and the onset of the recent pandemic. This decline is claimed on the…
What had been only a suggestion by several prescient members of the capitalist establishment till now, has become official policy, at least in Britain where Prime Minister Boris Johnson has announced that his government will undertake public investment to stimulate…
On May 25 in Minneapolis, an African-American arrestee George Floyd was choked to death by a white police officer pressing his knee against Floyd’s neck. The entire America erupted in protests, which targeted not just contemporary racism but even historical…
DD Kosambi uses a telling example to illustrate the crisis of Indian feudalism: at the third Battle of Panipat in 1761, the troops on oneside had not had enough to eat, while the troops on the other side just managed…
Between, say December 25, 2019, and June 23, 2020, world crude (brent) oil prices have fallen by nearly 37 per cent. They had fallen by over 60 per cent between end-December and mid-April, but there has been some price-recovery since…
Something very odd is happening in the United States. The coronavirus toll keeps rising with no end in sight. The economy has virtually collapsed with more than 40 million people filing for unemployment. Thousands are out on the streets protesting…
The tropical region can grow a variety of crops which either cannot be grown at all, or for much of the year, in the cold temperate regions of the world where metropolitan capitalism is located. These include beverages, fibres, vegetables…
There is a massive problem of external debt building up for the third world, of which the recent Argentine debt crisis was only one manifestation. At the root of the problem is the collapse of primary commodity prices in the…
