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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.
When business turns 'Easy'
28 February, 2018, C.P. Chandrasekhar
The Modi/Choksi case illustrates how a neoliberal financial policy regime that is aggressively “reformist” creates conditions that make the system vulnerable to fraud and corruption on a huge scale.
Window Dressing Budgetary Figures
31 January, 2018, C.P. Chandrasekhar
Budget 2018-19 will feature a window dressed Revised Estimate to ensure that the fiscal deficit is on target. The government’s decision to sell its stake in HPCL to ONGC is only one more step in that direction.
America's Turn Towards Fascism and Its Contradictions
04 September, 2017, Prabhat Patnaik
While the turn of the U.S. towards fascism is unmistakable, the contradictions associated with this turn, and the complexity of the process of formation of the partnership between big business and fascist upstarts within the framework of a non-fascist bourgeois State to start with, are also clearly visible.
The Rise and Fall of South Korea's Chaebols
15 March, 2017, C.P. Chandrasekhar
Even though an alliance between big business and politicians is threatening the survival of democracy in South Korea, a near-unprecedented process of penalising corruption and bribery has begun there because of popular pressure.
Evolution of India as a Nation
06 March, 2017, Sitaram Yechury
This piece is the author's deliberations made in the Opening Session, "The Idea of the Nation" of the day-long Seminar on "Interpreting the World to Change It", held on February 11, 2017, in New Delhi to mark the release of Festschrift for Prabhat Patnaik.
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.
Big Business and Mr. Modi
16 April, 2014, C.P. Chandrasekhar
If India is not to be handed over to big business and a rabidly communal fringe, it is best to keep Narendra Modi out of the Prime Minister’s office.
Crony Capitalism in the Age of State Capture
10 March, 2014, C.P. Chandrasekhar
The illegal nexus between the state and big business for the benefit of both has strengthened under the neoliberal policy regime in India.
Corruption in the Age of Liberalisation
03 December, 2010, C.P. Chandrasekhar
The instances to which such allegations relate are many, varying from the sale of 2G spectrum and the mobilisation and/or disposal of land and mining resources, to purchases made as part of large and concentrated public expenditures
On Davos World Economic Forum 2005
11 March, 2005, Jayati Ghosh
The discussion agenda of the World Economic Forum, which normally addresses the interests of global capital and multinationals for ‘prosperity for all’, seems to have moved recently to issues related to poverty, unemployment, health, environment and Africa. In addition, the parade of media and film personalities as opposed to the normal gathering of politicians and business representatives seems to suggest a desperation for legitimisation and popular approval. On this count the World Social Forum seems to have been more successful than it is given credit for.
The Authoritarian Ambitions of Fluid Finance
03 May, 2004, C.P. Chandrasekhar
The week ended April 30 witnessed a collapse in India's stock markets. On Wednesday, April 27, the Sensex fell by 213 points, wiping clean an estimated Rs. 55,000 crore of paper ''wealth''. This was the largest single-day decline in over three years. Over the rest of the week the markets moved further down, indicating that ''Black Wednesday'' was possibly not just a stray blip on the trading screen.
NPAs in India's Banks: Debt Default as Strategy
19 May, 2003, C.P. Chandrasekhar
It has been known for some time now that India's banking system is burdened with a huge volume of non-performing assets (NPAs), or loans on which borrowers have defaulted on interest and amortization of payments. What is noteworthy is that much of the NPA burden was accumulated during the years of reform.
Reforms: The Second Generation
12 February, 2000, C.P. Chandrasekhar
If official spokesman are to believed, the Vajpayee government is busy putting in place a new generation of economic reforms. The forthcoming Budget too, it is expected, will push ahead with what has been termed "second generation reform". And such expectations have been fuelled by a series of liberalisation measures announced in recent weeks.

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