At first sight it appears to be an enigma. India has been recording according to official statistics one of the highest GDP growth rates among all the countries of the world, so much so that epithets like “emerging economic superpower”…
The Narendra Modi government has now carried its penchant for undermining institutions to the national budget itself. Not only has it treated what should have been an interim budget, as its tenure lasts barely two months into the new financial…
With Rahul Gandhi’s announcement recently at Raipur that his Party had taken a “historic decision” to introduce an income guarantee scheme for the poor, and with the general anticipation that the Modi government’s last budget will also announce an income…
For some time now there has been a debate in the country that is as esoteric as it is misleading, namely whether the Reserve Bank of India’s reserves should be drawn down by the government to finance its expenditure. On…
Former Reserve Bank Governor Raghuram Rajan has come out openly against the Indian government’s measure of demonetizaton of currency notes in November 2016, in a speech delivered recently at the University of California at Berkeley. Since Rajan is an economist…
Nothing shows the crisis of neo-liberal capitalism more clearly than the popular uprising in France that is occurring under the banner of the “Yellow Vest” movement. Thousands are congregating in Paris over week-ends to protest against the intolerable burdens being…
Third world economies are now facing a reduced export demand for their goods and services for two distinct reasons. One is the world capitalist crisis which entails a reduced aggregate demand in the world economy and hence reduced aggregate exports…
The most significant feature of contemporary capitalism which is of relevance to the world of work is its inability to provide work to a substantial proportion of persons looking for it. This is not just a matter of economic denial,…
Narendra Modi said the other day, rather disparagingly, that the “Urban Naxals” live in air-conditioned comfort. Since all who speak or write in public upholding the right to dissent from the Hindutva positions, including even known critics of the Left,…
The level of economic activity under capitalism is subject to prolonged ebbs and flows. When the economy is on an upswing, this very fact acts as an elixir that emboldens capitalists, who begin to expect that the “good times” are…
