India’s central government was faced with a fiscal crisis even prior to the Covid-induced lockdown. Provisional estimates from the Controller General of Accounts of actual revenues collected in financial year 2019-20, or the fiscal year that ended March 2020, point…
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…
One of the most vocal critics of neoliberalism in general and the socioeconomic policies of India’s BJP-led Central government in particular, eminent economist Jayati Ghosh is known for her sharp and lucid views on social issues. In a conversation with…
While forecasters grapple with predictions on the likely contraction in the world’s leading economies, big finance, especially in the US, seems to be prematurely preparing for its next celebration. Recall that while the post-2008 Great Recession was precipitated by the…
The current predicaments faced by of India’s migrant labour - losing livelihood and shelter in urban areas as started with the 4-hour notice for a complete shutdown in response to the Pandemic - will remain as one of the worst…
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…
The Financial Times of London is one of the most “respectable” bourgeois newspapers in the world. Even this newspaper has now come to recognise something which the Left has been saying for quite some time. In an editorial on April…
Mainstream economic policies that advocate fiscal-monetary austerity along with financialization and speculative transactions have squeezed the pace of expansion for the real economy. A major impact of above has been the dismal state of employment and job creation in the…
Among the many damages wrought by the inapposite Central government policy response to the Covid pandemic in India is that on the fragile framework of economic cooperation between the Centre and the states. It is clear that the real task…
