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Has There Been an MSP Hike for Kharif Crops?
16 July, 2018, Prabhat Patnaik
The government’s MSP hike is just a cynical ploy, there has been no hike in real terms for major crops compared to the base year and the government not cognizing C2 in its MSP fixing while taking (A2+FL) is fundamentally erroneous and has no rationale as it leaves out the poorest landless farmers.
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.
Why didn't Socialism have Over-production Crises?
02 July, 2018, Prabhat Patnaik
The period after 2008 has witnessed prolonged overproduction crisis which was not seen in the old socialist economies. A market driven capitalist economy that has its foundations on the principle of antagonism is the source of this glut.
Keynes or New-Keynesian: Why Not Teach Both?
27 June, 2018, Rohit
There is a need for plurality in macroeconomic education now than ever before for vibrant policymaking and open minded academic engagements. The difference between Keynes and New-Keynesian is not only in their policy prescription but their understanding of capitalism is completely at odds with each other.
George Soros on The Current Conjuncture
25 June, 2018, Prabhat Patnaik
Factors like the U.S. sucking out finance capital from the rest of the world; the appreciating dollar; the looming crisis for the third world; the refugee problem for Europe are together pushing world capitalism into a serious crisis as put by George Soros. A Marshall plan may save the system but the basic foundations of capitalism are against this proposal.
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.
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.
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.
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.
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.
A Tale of Two Discourses
19 April, 2018, Prabhat Patnaik
The Hindutva bubble has clearly burst. Mass demonstrations by peasants, traders, doctors, teachers, students and even school children in the past few days have shown that not only the fear gripping the people is over but also the Indian political discourse is shifting towards material-practical matters, again acquiring a resemblance to what it had been in the pre-Modi years.


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