The Logic of Neoliberal Anti-Populism
Aug 27th 2014, C.P. Chandrasekhar
Pursuing fiscal consolidation by providing large transfers to the rich while trimming expenditures that benefit the poor is the best example of the ideology of anti-populism.
Oil: Hope of respite?
Aug 22nd 2014, C.P. Chandrasekhar
Despite a downward trend in global oil prices, in the long run India may have to find alternative routes to finance the oil import bill as the trend may be short-lived.
Incentivising Risk-taking Abroad
Jul 28th 2014, C.P. Chandrasekhar
Tax concession provided on dividends received by Indian firms from their foreign subsidiaries increases the foreign exchange risk exposure of the country.
BRICS Gains Currency in Brazil
Jul 25th 2014, Biswajit Dhar
BRICS is poised to make a mark in the global economic governance, if the NDB and the CRA turn into credible financial institutions – as counterparts of the existing structure.
The BRICS Bank: Part of a new financial architecture (2)
Jul 25th 2014, Oscar Ugarteche
Given that the BRICS countries all have first tier development banks implies that they also have development bankers who can bring their expertise to the New Development Bank.
The BRICS Bank: Part of a new financial architecture (1)
Jul 25th 2014, Oscar Ugarteche
The BRICS Bank would be less vulnerable if it used non dollar denominated bonds similar to those established by the World Bank in the 1980's.
The Rise and Fall of the Global South
Jul 21st 2014, Prabhat Patnaik
The south that was supposedly rising is now witnessing a fall and this can be prevented only if the domestic market is expanded through egalitarian measures of redistribution.
The Missing Honeymoon
Jul 9th 2014, C.P. Chandrasekhar
The government's decisiveness in ensuring quick clearances for big, infrastructure projects would please the corporate sector and private capital, but not the rest of India.
The Moves towards 'De-Dollarization'
Jun 18th 2014, Prabhat Patnaik
The de-Dollarisation attempts by Russia via the recent trade deals with China and Iran can have major consequences, but may be difficult to sustain due to internal pressures.
Who is Afraid of Illicit Finance?
Jun 16th 2014, C.P. Chandrasekhar
NDA government's move to appoint an SIT to bring back illegal money from abroad brought more complex issues of finance and government's real intention to the foreground.
Chinese Dreams
Jun 11th 2014, C.P. Chandrasekhar
The pursuit of the Chinese dream may become a nightmare for the majority as it involves reduction of expenditures on food subsidies and other welfare measures.
Modi with the Magic Wand
Jun 11th 2014, C.P. Chandrasekhar
Modi has persuaded people that his development magic wand can deliver what others dare to promise. If he fails to deliver on this the current euphoria can prove short-lived.
No Help from Abroad
Jun 4th 2014, C.P. Chandrasekhar
The author here shows that the OECD's optimistic growth projections are questionable and the global environment confronting the new government of India is not favourable.
The Rupee's Climb
May 23rd 2014, C.P. Chandrasekhar
A surge of capital inflow appreciated the rupee while the RBI is not keen to intervene due to inflation implications. Rupee may stabilise or start depreciating again later.
The Last Straw
May 23rd 2014, C.P. Chandrasekhar
The possibility of a fall in India's agricultural production due to the El Niño effect gives rise to a possibility of worsening stagflation.
The Offensive against Transfers to the Poor
May 22nd 2014, Prabhat Patnaik
The demand by corporate magnates to roll back the relief measures for the poor is nothing but an expression of the class animosity of corporate capital towards the working poor.
On the Indian General Election 2014 Results
May 22nd 2014, Jayati Ghosh
India witnessed the victory of religious majoritarianism with corporate funding, and promises an authoritarian right wing State that might undermine Indian democracy.
Stock Market Boom amidst Economic Crisis
May 19th 2014, Prabhat Patnaik
The stock market boom, within a slowdown in the economy, serves the interest of the finance capital, and the crisis cannot be addressed because the boom has to be sustained.
The Threat from Big Pharma
May 15th 2014, C.P. Chandrasekhar
The recent global trend of M&A in the pharmaceutical industry poses a danger for prices of life savings drugs, especially in India, with 100% FDI approval from the government.
Blaming the "Other"
May 15th 2014, Jayati Ghosh
The BJP's aggressive stance on migrants from Bangladesh is economically stupid. Strategies that seek to exploit such divisive attitudes will boomerang on all Indians.
A Political Economy of the Elections
May 6th 2014, C.P. Chandrasekhar
Blind faith on economic growth took the Congress away from inclusiveness and public opinion but the BJP follows the same lead and does not provide any economic alternative.
The Post-Election Economy
May 5th 2014, Jayati Ghosh
Ideally India needs a new and different vision for the economy, but the parties that are being projected to do well in the elections do not exhibit that new vision at all.
A Curious Recession
Apr 21st 2014, C.P. Chandrasekhar
India's industrial sector seems mired in a recession at a time when foreign capital inflows have been substantial and capital market is exuberant.
The BJP's Election Manifesto
Apr 17th 2014, Jayati Ghosh
One of the most dangerous aspects of the BJP's vision for India is that it envisages the enforcement of an aggressively pro-big business agenda.
Big Business and Mr. Modi
Apr 16th 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.
Pre-election Euphoria?
Apr 15th 2014, C.P. Chandrasekhar
The recent surge in the Sensex despite sagging performance of the overall economy reflects selective speculation by international finance which makes it more volatile.
Nirmal Kumar Chandra
Apr 15th 2014, Prabhat Patnaik
Totally free of any malice and devoid of any pettiness, Nirmal Kumar Chandra was the sort of person one often reads about in fiction but scarcely meets in real life.
The Compleat Economist - Nirmal Kumar Chandra (1936-2014)
Apr 15th 2014, Ashok Mitra
In a tribute to Nirmal Kumar Chandra, the author says that the least that can be said, and that should be enough, is that Nirmal Kumar Chandra was the Compleat Economist.
Financial Strains in the “New” China
Apr 9th 2014, C.P. Chandrasekhar
Growing corporate debt and recent reporting of default raise questions on an impending crisis as the financial liberalisation process creates greater volatility in China.
Seasons of Migration to the North
Apr 9th 2014, Jayati Ghosh
The dismal condition of the migrant workers, depicted by a recent study, raises a question on the argument that migration in India is no longer distress-driven but demand-led.
The Next Internet Bust?
Mar 18th 2014, C.P. Chandrasekhar
Excess liquidity as part of the crisis solution may well be setting up the next IT bubble with investors speculating on start-ups even without definite revenue roadmaps.
Rajan's Target: Inflation or the poor?
Mar 18th 2014, Rohit
The RBI Governor's call for inflation targets to be set by the parliament is not a demand for providing relief to the poor, but a gesture to assure global finance capital.
The Uncertain World of Software Services
Mar 18th 2014, C.P. Chandrasekhar
Although RBI's survey points to a revival of India's exports, so long as global conditions remain uncertain there can be little certainty about its export performance.
Crony Capitalism in the Age of State Capture
Mar 10th 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.
The Sources of Bank Vulnerability
Mar 5th 2014, C.P. Chandrasekhar
Higher NPAs in the public sector banks of India is a consequence of the liberalisation agenda pursued by the government rather than the failure of the bank managers.
Workers Dying in Qatar