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C.P. Chandrasekhar speaks on 'Revisiting 'Capital' in the Age of Finance'
23 September, 2017,
The third lecture, titled 'Revisiting Capital in the Age of Finance', was delivered on 23rd September, 2017 at the India Habitat Centre in New Delhi. In this lecture, he talks about the phases that capitalism went through since its inception.
Twenty Years After The Asian Financial Crisis
07 August, 2017, Prabhat Patnaik
It was the free flow of foreign capital through “financial liberalization” that led to the East Asian Crisis of 1997, from which the “tiger economies” have not yet recovered fully. Even now, the augmented foreign reserves of these third world countries remain woefully inadequate to finance debt to foreigners, as the hegemony of international finance capital builds over their own assets.
Justice in the Age of Finance
07 July, 2017, C.P. Chandrasekhar
The very limited Barclays prosecution comes in the wake of a half-hearted investigation effort, which has thus far completely let off all those who took the world economy to the verge of a crisis akin to the Great Depression. It is not clear if anything will finally come out of even this case, which is aimed at merely teaching a lesson to those who hurt a bunch of financial investors by violating insider rules.
Growing class resistance against "Globalization"
19 June, 2017, Prabhat Patnaik
Universal non-class use of the term “globalisation” and its “other” “nationalism” by the bourgeoisie has enabled them to show the former as progressive and latter reactionary for all classes. But recent election results in major countries reflect the rise of resistance of the worker class against the hegemony of “globalised” finance capital everywhere. Even in India, for the first time in three decades, anti-labour policies are being challenged by strong peasant movements in many states.
Why workers lose
30 May, 2017, C.P. Chandrasekhar
The IMF’s push to delink the decline in the share of labour in national income from the rise of finance, neoliberalism and globalisation leads to a set of banal prescriptions on how to deal with a problem that is at the centre of the crisis of capitalism today.
World Capitalist Crisis getting Accentuated
22 May, 2017, Prabhat Patnaik
After a brief illusion of recovery in the U.S., the world economic crisis is getting accentuated. Trump administration would rather increase its fiscal deficit, if at all it does, through tax cuts than state expenditure under the hegemony of finance capital. This might further suppress consumption expenditure, already constricted by falling global wages. Such policies, paired with hostile protectionism, would make correcting over-production and hence overcoming world crisis, almost impossible.
The Nefarious Money Bills
03 April, 2017, Prabhat Patnaik
The amendment of the Company Act by the BJP government is a massive assault on democracy and a legitimisation of the fusion of corporate and State power, and a license for big-ticket corruption.
Interest Rates and the Use of Cash
08 March, 2017, Prabhat Patnaik
It is ironic that under the most advanced form of capitalism today demands are being made which would push us back into the age of gold-money from where mankind had begun its journey into the realm of money.
China's Capital Flight Syndrome
30 January, 2017, C.P. Chandrasekhar
The sudden collapse in reserves due to an outflow of capital in a country that was considered the favoured destination for FDI points towards the fact that China is now paying the price for the capital account liberalisation measures adopted with its entry into the WTO.
Age of Uncertainty
23 December, 2016, C.P. Chandrasekhar & Jayati Ghosh
With the US Federal Reserve deciding to exit the era of low interest rates even when growth in the rest of the world economy falters or remains sluggish, economic uncertainty intensifies.
Finance Capital and the Nature of Capitalism in India Today
25 November, 2016, C.P. Chandrasekhar
This article explains how the growing dependence on foreign finance capital has distorted India’s growth. Due to the accumulated presence of foreign capital in the country since liberalisation, it is turning moribund and losing sovereignty.
The Hegemony of Finance
19 October, 2016, C.P. Chandrasekhar
Finance has been able to successfully stall reforms that the 2008-09 crisis had established as being urgent and imperative, and the consequences of that are bound to be damaging.
Societal Involution in the North
16 May, 2016, Jayati Ghosh
Recent social and political trends in the US and in parts of Europe point to the regressive tendencies that seek to recreate a past that seems less complicated, but manages to intensify unhappiness.
When Commodity Prices Fall
26 April, 2016, C.P. Chandrasekhar & Jayati Ghosh
The decline in primary commodity prices over the past four years particularly last year, shows that financialisation of commodities has amplified and exaggerated instabilities and fluctuations.
The Phenomenon of Negative Interest Rates
21 April, 2016, Prabhat Patnaik
Even the unconventional measure of charging negative interest rates, as the author says, is unlikely to end the recession because capitalism today is in a deep structural crisis.
Budget 2016-17: Signs of paralysis
16 March, 2016, C.P. Chandrasekhar
The divergence between the rhetoric and the actual allocations in the Budget 2016-17 depicts the ruling party's inability to use the fiscal lever to push for growth and welfare.
Budget 2016-17: Hype is all
15 March, 2016, Prabhat Patnaik
Behind all the hype about a pro-poor budget, the actual provisions of the government for the major social sectors are found to be too paltry to improve the lives of the poor.
IDBI Bank: The door to denationalisation
04 January, 2016, C.P. Chandrasekhar
The decision to privatise IDBI Bank is the beginning of a larger process of denationalisation of banking in India that would lead to exclusionary banking structure most unsuited to India's development needs.
Debt and Asia's Success
03 November, 2015, C.P. Chandrasekhar & Jayati Ghosh
An improved dataset from the Bank of International Settlements reveals that the post crisis 'success' of Asia in terms of growth was built on a pile of debt.
Understanding "Secular Stagnation"
15 October, 2015, C.P. Chandrasekhar & Jayati Ghosh
This article discusses the issue of the "new normal" of low or stagnating output growth that the analysts and reports of international organisations are talking about.

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