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RCEP Deal can be Disastrous for India
13 September, 2018, Biswajit Dhar
Our FTA experience and existing trade imbalance with RCEP nations inform us that such a trade pact will hurt our producers.
Who's Manipulating China's Exchange Rate?
11 September, 2018, C.P. Chandrasekhar & Jayati Ghosh
Contrary to western perceptions, the Chinese government’s attempts to manage the exchange rate over the past few years have actually been directed to shoring up its value, rather than forcing depreciation.
The Real Problem with Free Trade
11 September, 2018, Jayati Ghosh
Even if free trade is ultimately broadly beneficial, the fact remains that as trade has become freer, inequality has worsened. One major reason for this is that current global trade rules have enabled a few large firms to capture an ever-larger share of value-added, at a massive cost to economies, workers, and the environment.
India's Electronics Manufacturing Sector: Getting the Diagnosis Right
07 September, 2018, Smitha Francis
The Indian electronics industry’s high dependence on imports is a direct outcome of the trade and investment liberalisation that was carried out by successive governments without putting in place the necessary industrial policy support for maintaining and improving domestic linkages and indigenous capabilities.
Pakistan: Who needs a crisis?
29 August, 2018, C.P. Chandrasekhar
As Pakistan’s new Prime Minister, Imran Khan faces the current balance of payments, its important to look at Pakistan’s debt history, especially in light of its association with China’s Belt and Road Initiative. With IMF’s support to Pakistan in the past, it is to be seen how a proxy stand-off between a retreating power and a rising one plays out.
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 State of the Economy
23 July, 2018, Prabhat Patnaik
The Indian Economy is facing remarkable combination of stagnation, inflation and a burgeoning trade deficit which has been erroneously attributed to the rise in oil prices alone.
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.

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