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Has Donald Trump Already Changed US Trade?
19 June, 2018, C.P. Chandrasekhar & Jayati Ghosh
Donald Trump is threatening to dismantle the current world trading system, but in his first year US trading patterns show strong continuity with the previous administration.
Trump Versus the Rest
18 June, 2018, Prabhat Patnaik
Donald Trump’s protectionist stance at the G-7 summit is an example of how disunited capitalist countries are on a possible solution to the capitalist crisis. Because of the position of the US economy, Trump can afford to hold on to his protectionist policies while enlarging the fiscal deficit. What is wrong about this strategy is the possibility of long term repercussions, not just for America but for the capitalist world as a whole.
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.
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 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.
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.
Wisdom, For The People
03 May, 2018, Prabhat Patnaik
Ashok Mitra will be remembered above all as a strong champion of the rights of states. He played a major role in exposing the high degree of centralisation of powers and resources that existed in the country and went almost unnoticed. In his death, the country has lost a person of great wisdom, for whom the interests of its working people always came first.
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.
Leapfrogging into Services
26 April, 2018, C.P. Chandrasekhar
The argument that services reflect a new dynamism in India and the IMF’s prescription that the sector can be a driver of growth and development are far-fetched.
The Collapse in Developing Country Exports
25 April, 2018, C.P. Chandrasekhar & Jayati Ghosh
The period since 2010 has seen a collapse in developing country exports, most of all in South-South trade. Developing countries need to factor this into their future strategies.
Trump's Trade War
24 April, 2018, C.P. Chandrasekhar
The trade sanctions on China and other protectionist measures announced by the Trump administration will not only not serve the cause of the U.S.’ trade deficit but could also spark off a trade war, resulting in an overall shrinkage of world trade.
The Real Confusion over MSP
04 April, 2018, C.P. Chandrasekhar
The government ought to have specified its definition of cost of crop production in the Budget to prevent any confusion in the minds of people on minimum support prices.
Trump's Protectionism
26 March, 2018, Prabhat Patnaik
Trumps' announcement of tariff hike tantamount to a beggar-thy-neighbor policy that would inevitably attract retaliation. But these current protectionist measures on capital-in-production do not in any way restrict capital-as-finance. They are just desperate and counter-productive attempts at coping with a crisis, which is itself an outcome of the process of globalization of finance.
Technological Change and Impoverishment
19 March, 2018, Prabhat Patnaik
Socio-economic effects of technological change depend upon the property relations within the system they occur. While in socialism higher labour productivity can improve the conditions of workers, in capitalism, the same has lead to growing relative labour reserves, and hence impoverishment.
Did the FM deliver for farmers?
02 February, 2018, Jayati Ghosh
The Budget Speech this year was no different in terms of the grandiose promises made to farmers, without substantial financial backing, and used as substitute for real allocations. Such a clever-by-half attitude towards those who provide food for India and account for at least half the work force may well backfire on the government.
A Note on Estimating Income Inequality across countries using PPP Exchange Rates
01 February, 2018, Jayati Ghosh
The use of exchange rates based on Purchasing Power Parities to compare income across countries and over time has become standard practise. But there are reasons to believe this could lead to excessively inflated incomes for poor countries and in some cases also inflate the extent of real changes over time. Estimates of gross domestic product growth in Chinese and Indian economies in recent years provide examples of this.
A Year of Wilful Economic Disaster
08 January, 2018, Prabhat Patnaik
The uniqueness of 2017 lies in the fact that never before has the country seen a government-caused economic crisis as serious as was witnessed in this year.
The Problem with the Indian Left
27 December, 2017, Prabhat Patnaik
The current problem with the Indian Left, and in this term I include all sections of the Left, from the so-called "parliamentary Left" to the so-called "revolutionary Left", is in my view, its lack of appreciation of the dialectics between "reform" and "revolution".

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