Facebook has launched a process that would lead to the creation of a new cryptocurrency, “Libra”, in the first half of 2020. Named after a unit of weight used in ancient Rome, Facebook hopes Libra would become the dominant measure…
The “Gross Domestic Product” is a concept rooted in an epistemic position which is intrinsically incapable of recognizing the existence of a “surplus” in society. A simple example will make this clear. Suppose we have an agrarian economy in which…
India’s financial sector is in the midst of a second crisis, even as the first in the form of a humungous mass of non-performing assets on the books of commercial banks remains unresolved. This time the problem is not of…
The report of the Periodic Labour Force Survey (PLFS) conducted in 2017-18 is finally out, and it confirms what had been leaked earlier, namely a dramatic increase in the unemployment rate in the Indian economy. The unemployment rate is given…
The tariff war with China unleashed more than a year back by the Trump administration threatens to turn into full-fledged economic war. The US claims that China is engaging in unfair trade practices and adopting coercive measures against US firms,…
The central government has finally allowed the release of the report of the 2017-18 Periodic Labour Force Survey. The previous government had blocked its release before elections because the survey showed a massive increase in the unemployment rate, worst in…
The result of the recent Indian elections, which gave Narendra Modi’s Hindu Supremacist Party a second five-year term, confirms the basic argument regarding the nature of fascism. There is a fundamental difference between the 2014 elections that brought Modi to…
We often miss this aspect in our discussions, but Modi’s re-election is part of a global Right-ward shift that is taking place. Netanyahu got re-elected in Israel. Erdogan got massively re-elected in Turkey. The Conservative government came back to power…
Mainstream bourgeois economics which is what occupies a hegemonic position in the academic world today is often criticized for being “unreal”, for proceeding on the basis of assumptions that obviously do not correspond to reality. This criticism however, though valid,…
I propose to go back in this piece to the Indian Air Force’s strikes against the terrorist camps at Balakot in Pakistan some weeks ago. My concern here is not with the event itself but with an intellectual position that…
