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Articles

Home Articles

What the Indian Election Result means for Europe

  • June 10, 2024
  • Jayati Ghosh
  • Political Economy, World Economy
  • 0 Comments

Against all odds, in the elections to India’s parliament, whose results were announced last week, the opposition I.N.D.I.A. alliance managed to prevent the rampaging ruling party, Narendra Modi’s Bharatiya Janata Party (BJP), from securing a majority on its own. In…

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What is to be Done about Unemployment?

  • June 10, 2024
  • Prabhat Patnaik
  • Employment, Political Economy
  • 0 Comments

A Distinction is drawn in economics between demand-constrained systems and resource-constrained systems (which for simplicity and symmetry we shall call supply-constrained systems). In the former, an increase in output can occur if there is a rise in aggregate demand without…

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Election Results 2024: Economic justice has to come back on the policy agenda

  • June 5, 2024
  • Jayati Ghosh
  • Economy and Society, Political Economy
  • 0 Comments

The results of the 2024 Lok Sabha elections have come as a shock to those who had mistakenly believed in the problematic exit polls, which continued the narrative so assiduously cultivated by the previous Modi government. Many pundits who had…

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Chicanery versus Humanity

  • May 20, 2024
  • Prabhat Patnaik
  • Political Economy, World Economy
  • 0 Comments

The current protests in US university campuses demanding “divestment” from firms linked to Israel’s military machine, are reminiscent of the protests that had swept these campuses in the late sixties and early seventies demanding an end to the Vietnam war.…

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The Crisis of Liberalism

  • May 13, 2024
  • Prabhat Patnaik
  • Macroeconomics, Political Economy
  • 0 Comments

Each strand of political praxis is informed by a political philosophy which analyses the world around us, especially, in modern times, its economic characteristics. On the basis of this analysis, the particular political philosophy sets out the objectives which have…

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Banga Hype at the Springs

  • May 2, 2024
  • C. P. Chandrasekhar
  • Finance, Macroeconomics
  • 0 Comments

Less than a year back, a former chief executive of Mastercard, Ajay Banga, was in a surprise move picked to head the World Bank. Putting a Wall Street player addicted to profits in charge of a development institution claiming to…

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Fetishising the Growth Rate of GDP

  • April 22, 2024
  • Prabhat Patnaik
  • Finance, Macroeconomics
  • 0 Comments

John Stuart Mill was among the foremost liberal thinkers of modern times who wrote extensively on economics and philosophy. Though under the influence of his wife Harriet Taylor Mill, he came closer towards socialism late in his life, it was…

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The Collapse of Neoliberal Privatisation

  • April 19, 2024
  • C. P. Chandrasekhar
  • Economy and Society, World Economy
  • 0 Comments

Thames Water, one of England’s many regional water monopolies, infamously privatised by Margaret Thatcher in the 1980s and symbolising the dramatic turn in economic policy that neoliberalism implied, is finally collapsing. Unable to mobilise £500 million from shareholders who have…

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In the Name of the South: India’s aggressive economic diplomacy

  • March 26, 2024
  • C. P. Chandrasekhar
  • Political Economy, World Economy
  • 0 Comments

India’s government has since the year of its G20 Presidency claimed to have restored the country’s role as the ‘Voice of the South’ in global dialogues. That is often backed up by reference to its efforts to focus attention on…

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Once More on Poverty Figures of India

  • March 25, 2024
  • Prabhat Patnaik
  • Macroeconomics, Poverty
  • 0 Comments

The other day the Chief Executive Officer of Niti Ayog made a fantastic claim, that the poverty ratio in India had fallen below 5 percent according to the 2022-23 consumption expenditure survey data. His claim was based on the fact…

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