Prabhat Patnaik In justification of the move to end Kashmir’s special status, Amit Shah in his speech in the Rajya Sabha brought in the question of Kashmir’s “development”, arguing that closer integration with the rest of India will bring in much investment into the region. He...
Anis Chowdhury abd Jomo Kwame Sundaram The harmful effects of falling corporate tax rates have been acknowledged in a recent International Monetary Fund (IMF) research paper. This trend, since the early 1980s, has been especially detrimental for developing countries, which rely on direct taxation much more than developed economies. Acknowledging that existing...
How does the Government finance its Borrowing? The UK government has a national debt of over 55% of GDP. It finances its debt by borrowing from the private sector. Its debt is managed by the Debt Management Office DMO 1. By issuing government bonds (gilt edged stocks) demand comes mainly from...
Jayati Ghosh The euphoria around emerging markets faded a while ago, but somehow the hope persists that economies in Asia can buck the global trend and grow fast enough to create an alternative growth pole. It is true that the global financial crisis and its aftermath...
JAYATI GHOSH In 2013, the International Monetary Fund produced a report acknowledging that it had “underestimated” the effects that austerity would have on Greece’s economy. Yet the Fund has made the same mistakes in its subsequent deals with Argentina and Ecuador. NEW DELHI – The process of...
C. P. Chandrasekhar and Jayati Ghosh July 16, 2019 With India’s development strategy relying increasingly on private investors across industrial and infrastructural categories, the question of how private investment would be financed has moved to centre stage. This question has gained in significance not merely because areas...
Jayati Ghosh Inequality has increased since it caught the attention of the international community. The claims that global inequality has decreased because of the faster rise in per capita incomes in populous countries like China and India must be tempered by several considerations. National policies are...
Prabhat Patnaik Fifty years ago on July 19, 1969, fourteen large private banks had been nationalized. Ironically the Golden Jubilee of that event, which had been a significant step in the process of building up a new financial architecture for the country, is being celebrated today...
Kunibert Raffer Neoliberal ideology forms the political backbone and background of present changes in economic and social systems. Trade policies in particular are often used to preach the advantages of globalisation. This Chapter shows that the new trade regime is heavily biased, tilting trade relations further...
Anamitra Roychowdhury The jobs crisis prominently visible among rural females earlier has now spread to the rural male segment Question of livelihoods and the lived reality of people, sooner or later, catch up with any democratically elected government. One of the major promises on which 2014 elections...