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Prabhat Patnaik
Monday 22 May, 2017
After a brief illusion of recovery in the U.S., the world economic crisis is getting accentuated. Trump administration would rather increase its fiscal deficit, if at all it does, through tax cuts than state expenditure under the hegemony of finance capital. This might further suppress consumption expenditure, already constricted by falling global wages. Such policies, paired with hostile protectionism, would make correcting over-production and hence overcoming world crisis, almost impossible.
Andrew Cornford
Thursday 18 May, 2017
Banking reforms to regulate the financial sector have broadly remained inadequate. In the book reviewed, Shirreff proposes the legal separation of banking activities into three groups, a return to unlimited liability for partners in investment banks and caps on total remuneration as the radical and effective steps needed to stabilise the sector. He also favours scrapping of Basel I and II norms and the application of a financial transaction tax. The global applicability and acceptance of these proposals, however, remains uncertain.
C.P. Chandrasekhar
Wednesday 17 May, 2017
Narendra Modi government appears to have decided to privatise public sector banks (PSBs). Preparations are underway with arguments being marshalled that “there is no alternative” to privatisation.
C.P. Chandrasekhar, Jayati Ghosh
Tuesday 25 April, 2017
Despite the government’s efforts to digitise the Indian economy forcibly, non-cash forms of payment appear to have declined as more currency has been made available to the public. This points to major flaws in the government’s coercive approach and the underlying rationale for cashlessness.
C.P. Chandrasekhar, Jayati Ghosh
Tuesday 11 April, 2017
After four decades of financial reform China’s banking sector is still dominated by publicly owned institutions. But continuity in ownership does not mean that banking behaviour does not change.
C.P. Chandrasekhar
Thursday 30 March, 2017
The failure of the macroeconomic stance of shifting away from fiscal policy to an almost exclusive reliance on monetary policy has led to the phenomenon of negative rates in countries other than the United States, and the first sign of even a partial recovery in that country has been enough to set off a reversal.
C.P. Chandrasekhar
Wednesday 08 March, 2017
A trail of defaults is ensuring that the NPA ratio is not stabilising, as the RBI expected it would, once assets misclassified as restructured and standard are recognised as non-performing.
C.P. Chandrasekhar
Monday 27 February, 2017
All that this government has is its unfounded belief that mere reform in the form of the demonetisation, digitalisation and the GST would deliver growth rather than recession.
C.P. Chandrasekhar, Jayati Ghosh
Tuesday 14 February, 2017
Post-Trump expectations of a shift back from an easy monetary policy with low interest rates to reliance on a fiscal stimulus for growth are reversing trends in global bond markets.
Rohit
Tuesday 14 February, 2017
By presenting a comprehensive picture of the current corporate debt crisis in India, the author cautions that the situation is very similar to the one that led to the US subprime crisis.
 

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