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Institutional Investors and Indian Markets
01 August, 2018, C.P. Chandrasekhar & Jayati Ghosh
In these uncertain times, equity markets in India seemed to be protected from extreme volatility. But the factors behind such resilience could also result in sudden stops.
Capitalism's Discourse on "Development"
30 July, 2018, Prabhat Patnaik
Capitalism cannot overcome unemployment and poverty in the third world countries because of its inherent tendency to generate greater technological progress, which increases labor productivity and thereby slows down the employment generation process. Because of growing labor reserves, real wages remain at subsistence level, but since labor productivity would be growing, the share of surplus would be increasing. Therefore capitalism produces growth at one pole and aggravates poverty at another.
The Proposed Abolition of the UGC
09 July, 2018, Prabhat Patnaik
The Modi government is bringing in legislation to abolish the University Grants Commission and replace it with Higher Education Commission of India. The composition of the HECI and the advisory council along with the fact that funds will be provided by the HRD ministry is a strong indicator of political interference in the country’s academic life.
The Indiscreet Aggression of the Bourgeoisie
04 July, 2018, C.P. Chandrasekhar
The financial crisis and a subsequent period of recession affecting the majority population in economies points to the fact that neoliberal economic policy might have lost its legitimacy. On the contrast, a change in mood with Brexit and Trump’s victory might not be subsequent setbacks with a new aggression on part of the neoliberal elite. Today, across the world, big business is attempting to influence economic decision-making in ways that can save the neoliberal project from collapse.
The Invisible Class
20 June, 2018, Prabhat Patnaik
The peasantry has been dubbed as the ‘invisible class ‘for the simple reason that it has been outrightly ignored. A basic comparison of the per capita GDP of this invisible class across two years using the Economic Survey 2017-18 gives veracity to these claims.
The Government is lying to you about the Reasons behind High Cost of Diesel & Petrol
20 June, 2018, Rohit
With the comical cuts in oil prices in India, an international comparison with neighbouring countries shows that the petrol and diesel prices in India are the highest in the region. While a rise in crude oil prices is borne by the consumers, the benefit of a fall doesn't follow the same route. A break up of oil prices and taxation throws light at the picture.
The Push for Privatizing Banks
11 June, 2018, Prabhat Patnaik
Historically, the push for bank privatization which has gathered momentum with a rise in tendencies to take to neo-liberal policies. The arguments for privatization have been put forward time and time again, depending on economic circumstances. As international finance capital demands outright privatization to control financial resources and popularizes the conception of social interest best served through free finance, the NPA crisis in India has become the justification of the day.
Shadow cast by the rupee
07 June, 2018, C.P. Chandrasekhar
The rupee has sharply depreciated in the recent weeks giving reason for concern. The external events of rise in oil prices and rate of interest in advanced economies has led to a surge in the current account deficit and capital outflows respectively. The success of 'the liberalization reforms' lies in the huge capital inflows and thus, has enhanced the periodic bouts of the rupee, hinting to symptoms of a bubble economy.
The Modi Government's "Achievement"
03 June, 2018, Prabhat Patnaik
Concluding the four years of Modi government is an unparalleled process of social and political retrogression in the country. A look at the declining per capita real income in agriculture and privatization of education and other essential services points at an expedition of neo-liberal tendencies during the Modi regime.
Walmart's Gamble and what it means for India
29 May, 2018, C.P. Chandrasekhar
By taking the majority stake in Flipkart, Walmart has committed itself to bearing losses in the medium term in a desperate gamble to thwart Amazon’s rise in India. The casualty will be the small retail business sector, which supports a large volume of self-employed and low-paid workers.
The Gathering Storm Clouds
28 May, 2018, Praveen Jha & Amit Chakraborty
The Indian Economy has all along been critically dependent upon the inflow of speculative finance to sustain its balance of payment. It now faces threatening prospects of a spiral as international crude oil prices and U.S. interest rates, that kept its import bill restricted, are on the rise.
Once again, the oil price scare
22 May, 2018, C.P. Chandrasekhar & Jayati Ghosh
As oil prices rise again, countries like India that had benefited from relatively low prices in recent years have to reconsider their growth and macroeconomic strategies.
The So-called "Consumers' Interest"
21 May, 2018, Prabhat Patnaik
The argument in the wake of the Walmart-Flipkart deal, that having large multinationals in the sphere serves consumers’ interest not only ignores the plight of local producers but is also analytically unsound. “Consumers” are not an entity distinct from the displaced producers and will get affected adversely over time.
The return of the oil threat
11 May, 2018, C.P. Chandrasekhar
As oil-producing countries, especially Saudi Arabia and Russia, stick to their reduced outputs and as Trump threatens to isolate Iran with sanctions once again, the spectre of high oil prices and the accompanying inflation seem very real.
Agricultural Tenancy in Contemporary India
09 May, 2018, Vaishali Bansal, Yoshifumi Usami and Vikas Rawal
The following report on “Agricultural Tenancy in Contemporary India” involved a detailed assessment of the 48th (1991-92), 59th (2002-03) and 70th (2012-13) rounds of the NSSO Surveys of Land and Livestock Holdings (NSSOSLLH) and includes detailed household-by-household corrections to remove a number of inconsistencies in the data. The main findings of the analysis point to significant marginalisation of landless poor households.
Ashok Mitra, a Man Who Was Equally Committed Politically and Personally
05 May, 2018, Jayati Ghosh
Much has been and will be written about this extraordinary man…All these qualities, rare as they are, are even rarer in combination. But in this piece, I will present a more personal picture, from someone who saw him as a father figure and was privileged to know him well.
Former Bengal Finance Minister was a polymath member of significant groups
03 May, 2018, Jayati Ghosh
Ashok Mitra was one of the most remarkable personalities of Independent India. A polymath who spanned technical economics, literature, policy and politics, he brought to all of these his distinctive flair, razor-sharp intelligence, and enormous energy and passion. We can be proud of living in a society that could produce such a person.
Ashok Mitra
03 May, 2018, Prabhat Patnaik
A man of great wisdom, and generosity, scrupulously adhering to principles and willing to fight for them, but without any malice towards anyone, Ashok Mitra was a pillar of support for the Left.
OBITUARY | Ashok Mitra, the Former Bengal Finance Minister Who Wished He Were Forgotten
03 May, 2018, Subhanil Chowdhury
He disliked being praised. In the last few lines of his memoirs Aapila Chaapila, he wished that he may be forgotten by everybody, he did not want his readers to remember him. Therefore, he would have strongly disagreed with this obituary of his. But those who knew him, loved him would agree that it is impossible to forget him.
Ashok Mitra, the Marxist Economist Who Was a Fierce Critic of the Government
02 May, 2018, Paranjoy Guha Thakurta
On the morning of May Day, former finance minister of West Bengal, member of parliament, prolific writer, bureaucrat, economist and Marxist thinker Ashok Mitra passed away in a Kolkata nursing home. He was born in 1928 and had turned 90 on April 10 this year. He was not just an academic, an administrator, a politician and an activist, but also a writer of amazing eloquence and insight in both Bengali and English.

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