Over the past two decades, Indian multi-billionaire Gautam Adani’s close ties to Prime Minister Narendra Modi have helped the Gujarati businessman become Asia’s wealthiest person. Adani’s meteoric rise, which in some ways eclipsed that of his political mentor, also made…
Finance Minister Nirmala Sitharaman made a misleading statement the other day that is not expected from a responsible member of the union cabinet. Talking about the resource transfer to the states in the recent budget, she said that the magnitude…
A strike on the Adani group by short-seller the U.S.-based Hindenburg Research has led to the unravelling of the Gautam Adani story, which celebrated the spectacular rise, in an extremely short period of time, of the wealth of a man and his business…
Gautam Adani’s calling Hindenburg’s allegations of fraud against him an attack on the Indian nation is a matter of particular significance. Just before this episode, the BBC documentary on Modi had been labelled a product of the colonial mindset by…
Economic theory makes much of “rent goods”. A “rent good” is one whose supply cannot be augmented at will, simply through investing more on its production; its supply is subject to constraints imposed by nature, because of which there is…
The semi-annual Financial Stability Report from India’s central bank signals that India’s banking system, especially the public banking system, has put behind it the stress from disturbingly high non-performing or bad loans on its books. The story as officially told…
All regimes based on class antagonism require a discourse to legitimise class oppression and this discourse in turn requires a vocabulary of its own. The neoliberal regime too has developed its own discourse and vocabulary and a key concept in…
To mitigate the worst effects of climate change and prevent societal breakdown, we must shift to renewable energies and reduce extreme inequality. But doing so would require massive increases in public spending, which is why governments must overhaul their outdated…
In the 1920s and early 30s, John Maynard Keynes was embroiled in a controversy with the ‘austerians’ of his time, who believed that balancing the government budget, even in a time of economic volatility and decline and financial fragility, was…
The IMF managing director Kristalina Georgieva has now openly admitted that the year 2023 will witness the slowing down of the world economy to a point where as much as one-third of it will see an actual contraction in gross…
