The security concerns of Russia arising from Ukraine’s intentions of joining NATO have been widely discussed in the media. But the IMF’s link with Ukraine which is a parallel issue has scarcely received much attention. The IMF, as is well-known,…
There is a common misconception that while the immediate aftermath of political decolonisation was marked by attempts by metropolitan powers to retain control over the resources of the erstwhile colonies, for which they used all kinds of instruments from coups…
It is obvious that the Covid-19 pandemic has had a deep, searing impact on the Indian economy, in terms of both total economic activity and livelihoods. It is true that the economy had been struggling for several years before then,…
Capitalist governments invariably seek to control inflation by enlarging unemployment. This has nothing to do with any belief in a stable “trade-off” between the two, namely in a stable curve that links the two. Even those who attribute inflation to…
In colonial times, the peasantry had to borrow from private moneylenders. According to Provincial Banking Enquiry Committee reports, these moneylenders in turn borrowed from commercial banks. But while disbursing credit to the peasants and charging exorbitant interest rates, the money…
In the United States there are still four million persons who remain unemployed compared to before the pandemic; and yet the Biden administration’s attempt to stimulate the economy has already run into a crisis with the re-emergence of inflation not…
The MGNREGS was introduced by the UPA-I government despite opposition from the neo-liberal lobby within it, owing inter alia to the active intervention of the Left which was supporting that government from outside. It was restrictive from the beginning: it…
Particular battles often have a significance that goes beyond the immediate context, of which even the combatants may not be fully aware at the time. One such was the Battle of Plassey, which was not even a battle since one…
In the entire history of post-independence India, no single economic measure has been as devastating for the people and as utterly futile in achieving its stated objectives, as the demonetisation of currency notes, of Rs 500 and Rs 1000 denomination,…
Marxist theory develops with changing times, as capitalism itself develops, which is why it remains a living doctrine. On the question of the role of the peasantry in the revolutionary process that leads to the transcendence of capitalism, there have…
