An interview by C. J. Polychroniou C. J. Polychroniou: From the 1980s onwards, with the process of economic globalization having picked up speed, the concept of Imperialism has been largely removed from the political lexicon of much of the Western…
National income is hard to estimate in India where so much activity and employment is in the informal sector. Much of GDP calculation is not purely “technocratic” but relies on judgments and assumptions. As long as our system of national…
At the last Spring meeting of the IMF and the World Bank, Christine Lagarde, the Managing Director of the IMF, had confidently stated that the world economy was on the path of recovery, a view echoed by most official soothsayers…
The author's bad bank proposal for India would be capitalised with zero coupon perpetual bonds the government would issue and would give the country some breathing time so that she can attack and tackle all her other problems. Click here…
The Indian corporate sector is grappling with a severe bad debt crisis, and as a result, the banks (public sector banks) are increasingly getting saddled with non-performing assets. Calling it India’s subprime crisis might be an exaggeration but I would…
China, now one of the world’s two largest nations measured by gross domestic product (GDP), is displaying a strange malady. A sudden and large outflow of capital from the country is resulting in a sharp fall in its reserves. Going…
The global debt of the non-financial sector has reached an all-time high in 2015 and two-thirds of this debt, amounting to about $100 trillion, consists of liabilities of the private sector. Click her for full text
Growth in India’s non-financial corporate sector shrank in 2015-16, after three consecutive years of “steep moderation” according to the Reserve Bank of India (RBI). In its annual study of the Performance of the Corporate Business Sector, the RBI attributes this…
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…
The ongoing review of the Fiscal Responsibility and Budget Management Act 2003, by a Committee set up by the central government, has once again brought to the fore the vexed question of whether limits should be set by law to…
