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C.P. Chandrasekhar
Wednesday 04 July, 2018
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.
C.P. Chandrasekhar
Tuesday 29 May, 2018
Walmart’s purchase of a dominant 77 per cent stake in Flipkart is reportedly the biggest acquisition in the global e-commerce area and is seen as indicative of India’s importance in the world economy.The acquisition at an unwarranted premium and valuation has been seen as a move to increase its market share that the company has lost to Amazon by utilizing the dominance of Flipkart.
Y.V. Reddy
Friday 09 March, 2018
This includes the text of the KLN Prasad Memorial Lecture that was delivered by Y V Reddy at the Administrative Staff College of India, Hyderabad on 1st February 2018.
C.P. Chandrasekhar
Tuesday 20 February, 2018
Support for Budget 2018-19 is missing across the income and wealth spectrum. While the Finance Ministers’ big talk backed with small money no longer fools the vulnerable, the governments’ image of being “reformist” has also taken a hit among speculative foreign and domestic investors, as a reaction to the new tax reforms.
C.P. Chandrasekhar, Jayati Ghosh
Thursday 14 September, 2017
A brief decline in portfolio inflows into equity markets has raised the question whether foreign investment flows into India have peaked. The evidence of investments in debt markets suggest otherwise. That, however, need not be all good news.
Prabhat Patnaik
Friday 01 September, 2017
The recent RBI report that shows that 99% of the demonetized currency notes have been returned proves false the governments’ claim that the scheme, that shook the whole economy, would cripple the black economy, an argument whose success lay in the demonetized currency not coming back to the system. Moreover, with re-monetization complete, there has been no flushing out of black money whatsoever.
Jomo Kwame Sundaram
Friday 01 September, 2017
Growing global interdependence poses greater challenges to policy makers on a wide range of issues and for countries at all levels of development. Yet, the new mechanisms and arrangements put in place over the past four decades have not been adequate to the growing challenges of coherence and coordination of global economic policy making. Recent financial crises have exposed some such gaps and weaknesses.
Prabhat Patnaik
Wednesday 16 August, 2017
The few days old Volume II of the Economic Survey by Ministry of Finance shows a GVA growth rate much less than that of the previous year, and that too artificially boosted by seasonal variations in non-core sectors. This deceleration is most likely to continue, with growing NPAs and plunging exports, and interest rate cuts will not help in a demand-constrained economy unless the government starts thinking beyond “fiscal rectitude”.
Prasenjit Bose, Zico Dasgupta, Rohit Azad
Monday 07 August, 2017
The Indian growth story of the 2000s’ cannot be over-simplistically explained as a result of “market-oriented” reforms. Public sector bank credit-financed investments, particularly in the infrastructure sector, played a significant role in sustaining growth, most crucially after the global economic crisis. Such a growth trajectory, however, proved to be unsustainable with the expansionary phase coming to an end in 2011–12 and bad loans piling up in the banking system.
Prabhat Patnaik
Monday 07 August, 2017
It was the free flow of foreign capital through “financial liberalization” that led to the East Asian Crisis of 1997, from which the “tiger economies” have not yet recovered fully. Even now, the augmented foreign reserves of these third world countries remain woefully inadequate to finance debt to foreigners, as the hegemony of international finance capital builds over their own assets.
 

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