|
Some
Comments about Marx’s Epistemology |
Aug
30th, 2019, Prabhat Patnaik |
|
Marx
saw the necessary incompatibility between capitalism
and human freedom: a contradiction that is becoming
all too evident today.
|
|
The
Roots of Economic Pessimism |
Aug
16th, 2019, C.P. Chandrasekhar |
|
Growth
optimism about the Indian economy and the post-election
speculative boom in the stock market are reversing
because the perceptions on which they were built are
now proving wrong.
|
|
IBC
Unravelled |
Aug
6th, 2019, C.P. Chandrasekhar |
|
The
delayed resolution of the Essar Steel debt default
case reveals a problem at the core of the IBC process
- unclear specification of how the loss burden should
be shared among the players encourages them to game
the system.
|
|
A
False Theory |
Aug
2nd, 2019, Prabhat Patnaik |
|
The
argument made by votaries of finance capital, that
government borrowing crowds out private investment,
is analytically false and driven only by ideology.
|
|
The
Current Eclipse of the Left |
Jul
11th, 2019, Prabhat Patnaik |
|
Prabhat
Patnaik explains the reasons for the declining strength
of the Left in India and suggests what the Left should
do to revive itself.
|
|
Economics
and Imperialism |
May
31st, 2019, Prabhat Patnaik |
|
The
real intent of mainstream economics is to serve as
a means of camouflaging imperialism. Prabhat Patnaik
illustrates this with the examples of growth and trade
theories.
|
|
The
Gathering Storm Clouds of Recession |
May
27th, 2019, Prabhat Patnaik |
|
Prabhat
Patnaik argues that industrial recession in India
is inevitable under neo-liberalism - and it is likely
to worsen because neoliberalism makes finding resources
for fiscal expansion difficult.
|
|
Finance
and Growth under Neo-liberalism |
May
14th, 2019, Prabhat Patnaik |
|
Prabhat
Patnaik explains that neo-liberal capitalism suffers
from an inherent tendency towards stagnation because
it no longer has the instruments used earlier to avoid
slipping into recession and stagnation.
|
|
The
Strange form of "Disinvestment" |
Jan
30th, 2019, C.P. Chandrasekhar |
|
Under
the NDA government disinvestment is increasingly turning
out to be a process in which surpluses are wrung out
of PSEs or government linked institutions to support
the budget, instead of the usual route of sale to
private buyers. Apart from adversely affecting the
modernization and expansion plans of PSEs, this change
in the nature of disinvestment does not enable the
government to raise its expenditure to the desired
levels in a pre-election year.
|
|
The
Mistaken Obsession with the Fiscal Deficit |
Jan
29th, 2019, C.P. Chandrasekhar and Jayati Ghosh |
|
The
central government regularly fudges fiscal data, to
pretend to meet the FRBM Act targets. This messes
up public companies, but does it really matter for
the macroeconomy?
|
|
Are
Global Oil Prices the Culprit for India's Burgeoning Trade
Deficit? |
Jan
1st, 2019, C.P. Chandrasekhar and Jayati Ghosh |
|
It
is generally assumed that India’s trade deficit is
determined by the state of global oil prices and their
impact on the oil import bill. Is that really the
case?
|
|
Criticism
and Criticism |
Dec
28th 2018, Prabhat Patnaik |
|
The
Modi government's demonetization move has been universally
criticized, but there are significant differences
between a neoliberal critique focused on the impact
on GDP and the Left's assessment that looks at the
impact on people.
|
|
The
Fall of the Rupee |
Sep
25th 2018, Prabhat Patnaik |
|
Falling
rupee requires immediate government action. Awaiting
an equilibrium that never comes would not only keep
squeezing the working people but would eventually make
the government run to the IMF and other financial institutions
in panic. Measures like raising interest rates, fiscal
compression, and using foreign exchange reserves have
their own fallouts. There have to be direct restrictions
on inessential imports combined with some controls on
capital outflows. |
|
The
Indian Economy in A Tailspin |
Sep
24th 2018, Prabhat Patnaik |
|
A
combination of direct import controls on inessential
items, reduction of petro-product prices, measures for
reducing the consumption of such products, and direct
taxation, especially on wealth, is the obvious way of
getting out of the tailspin in which the Indian economy
is currently caught. There is no alternative to these
measures if we are to avoid the fate of countries that
eventually run to the IMF and get caught in the vice-like
grip of "austerity". |
|
The
Larger Crisis that NPAs Signal |
Sep
17th 2018, C.P. Chandrasekhar |
|
Desperate
attempts to prevent liquidation of power sector assets
in companies that are defaulters point to a deeper crisis
afflicting neoliberal growth. A sector that was plagued
by shortages was opened up to private participation,
leading to rapid expansion in the expectation of large
profits from liberalised prices. Public sector banks
were called upon to finance that expansion with the
government being complicit. Now, however, firms find
themselves trapped between inadequate demand at prevailing
prices and rising costs that precipitate default. |
|
Women's
work in India |
Sep
10th 2018, Jayati
Ghosh |
|
The
decline in workforce participation by women in India
reflects shift from paid to unpaid work. In the absence
of basic amenities, a greater proportion of women are
engaged in fetching water, collecting fuel for cooking.
Once we take into account these unpaid and socially
unrecognised activities done by women, it is found that
workforce participation of women is greater than men.
|
|
The
Question of Farm-Loan Waiver
|
Jun
23rd 2017, Prabhat
Patnaik |
|
The
primary reason why loan-waiver is being demanded at
present is not an output fall owing to any natural calamity.
It is the price-fall on account of the bumper harvest
that underlies this demand. It is the breaking down
of an appropriate institutional mechanism that is responsible
for the peasants’ distress and periodic demands for
loan-waivers.
|
|
Finance
Capital and the Nature of Capitalism in India Today |
Nov
25th 2016, C.P.
Chandrasekhar |
|
This
article explains how the growing dependence on foreign
finance capital has distorted India’s growth. Due to
the accumulated presence of foreign capital in the country
since liberalisation, it is turning moribund and losing
sovereignty.
|
|
Capitalism
and the Oppressed Castes |
Apr
29th 2016, Prabhat
Patnaik |
|
The
development of capitalism in any society brings about
a complete transformation in the way we look at all
social questions including the question of caste oppression.
|
|
What
can Corporate Planning Learn from National Planning |
Dec
29th 2015, Pronab
Sen |
|
This
paper examines the historical development of national
planning in India and identifies the lessons that corporate
planning can draw from the long and varied experience.
|
|
Economics
and the Two Concepts of Nationalism |
Jun
22nd 2015, Prabhat
Patnaik |
|
It
is important to differentiate the kind of nationalism
that informed the anti-colonial struggle in India from
the bourgeois nationalism that had emerged in Europe.
|
|
Power
Tariff Hike in West Bengal |
Jun
16th 2015, Prasenjit
Bose |
|
One
of the necessary steps towards tackling the problem
of power tariff hike in West Bengal is to break the
monopoly of the CESC in Kolkata and adjoining areas.
|
|
Credit
and Capital Formation in Agriculture: A growing disconnect |
Nov
21st 2013, Pallavi
Chavan |
|
Capital
formation in agriculture in recent past suffered due
to overemphasis on short-term and indirect credit, but
this may prove to be costly for future sectoral growth.
|
|
Tripura's
Tryst with Literacy |
Oct
24th 2013, Subhanil
Chowdhury and Gorky Chakraborty |
|
While
all kinds of development model are debated furiously,
the small state of Tripura is making rapid strides in
improving literacy and other development indicators.
|
|
Reducing
Inequality: Learning lessons for the post-2015 agenda
– India case study |
Aug
26th 2013, ERF
& Save the Children, UK |
|
Economic
Research Foundation (ERF) in association with Save the
Children, UK undertook this study on the impact of inequality
on children in India.
|
|
Science,
Education and Research: Problems and prospects
|
Jun
19th 2013, Ramakrishna
Ramaswamy |
|
Referring
to the suboptimal state of science, education and research
today, the author asserts India has not learnt to develop
the necessary ''first-rate technology'' at home.
|
|
What
Census 2011 Reveals about Our Growers and their Land
|
Jun
5th 2013, Rahul
Goswami |
|
The
change in the number of cultivators and agricultural
labourers provided by Census 2011 should help us recognise
the growing impacts on food security caused by urbanisation.
|
|
Fragile
Foundations: Foreign capital and growth after liberalisation |
May
14th 2013, C.P.
Chandrasekhar |
|
The
shift from debt-financed public expenditure to debt-financed
private expenditure-led growth in India has resulted
in increased dependence on foreign capital and vulnerability.
|
|
The
Business of News in the Age of the Internet |
May
7th 2013, C.P.
Chandrasekhar |
|
In
the context of the digital revolution, the author discusses
some possible implications of the impact of the internet
on the print business and the directions they point
to.
|
|
|
Apr
29th 2013, Prasenjit
Bose |
|
The
measures to attract additional debt inflows into the
Indian economy to finance its widening current account
deficit will only enhance its external vulnerability.
|
|
|
|
Mar
11th 2013, Jayati Ghosh |
|
Analysis
of women's employment and decent work in the context
of the global economic crisis shows that gender sensitive
policy responses are more likely to be successful. |
|
Of
False Premises, Faulty Reportage and Declining Hunger:
Unraveling the enigma |
|
Jan
30th 2013, M Kumaran and Biraj Swain |
|
The
official assessment about India making progress in addressing
hunger, nutrition and poverty over last two decades,
do not match the ground realities. |
|
|
|
Sep
12th 2012, Praveen Jha and Amit Chakraborty |
|
With
cheap labour and a strong supply base, India's automobile
sector has emerged successful in integrating itself
into the global production networks. Using case studies
from the National Capital Region, this paper seeks to
study the nature of changes in the organisation of production
and work in the automobile sector - both intra-firm
and inter-firm - and their impact on the changing labour
processes and issues of managerial control, skill or
working conditions. The anatomy of the recent waves
of labour unrest there has been studied to investigate
its relation with changing labour processes, and to
understand the new regime of accumulation from a political
economy perspective in terms of the dynamic interaction
of capital's strategy, technology and the agency of
labour. |
|
|
|
Sep
1st 2012, Chirashree Das Gupta |
|
This
discussion note is an attempt to situate the development
of Hindu Undivided Family (HUF) as a legal tax entity
recognised by tax law, separate and distinct from individuals
and corporate entities. Over the years this tool has
been used by the family-owned business groups for evading
tax. In fact in the era of neoliberal globalisation,
the laws of the land have been altered suitably to facilitate
the transformation of family-owned business groups into
multinationals without an increase in their total corporate
liability. |
|
Labour
Market Regulations and Economic Outcomes: Some capital
lessons and minor messages |
Aug
8th 2012. Praveen Jha, Sakti Golder and Swayamsiddha Panda |
|
This
paper provides a survey of the empirical evidence on
the relationship between labour market institutions
and economic outcomes. Survey of major cross-country
empirical constructs that examine linkages between labour
regulations and different aspects of economic performance
such as employment, growth, etc., shows that the empirical
basis for the advocacy of blanket labour market flexibility
is rather weak. The paper also highlights some key empirical
findings from the organised manufacturing sector in
India and postulates some capital lessons and minor
messages that emerge from such an exercise. |
|
Report
on the State of Food Insecurity in Urban India |
Feb
28th 2012 |
|
This
report is an update of Food Insecurity Atlas of Urban
India that was developed by the M.S. Swaminathan Research
Foundation (MSSRF) and the World Food Programme (WFP)
in October 2002 and a companion exercise to the Report
on the State of Food Insecurity in Rural India of 2001.
Reviewing the relative position of the major states
with respect to food security, the Report reveals an
alarming situation of a permanent food and nutrition
emergency in urban India. Hence in order to promote
food and nutrition security for all, the Report offers
certain policy recommendations emphasizing that urban
food security is impacted by the macroeconomic policies
and therefore, economic reforms needs to be re-formed
to provide inclusive urban development. |
|
India's
New High Growth Trajectory: Implications for demand,
technology and employment |
Oct
12th 2011. C.P. Chandrasekhar |
|
Evidence
on trends in surplus generation and utilisation suggests
that India's recent transition to a high-growth trajectory
has been accompanied by and partly based on tendencies
towards profit inflation and increased inequality. This
paper offers an explanation as to why the net implications
for employment and conditions of work of this growth
trajectory have been adverse. |
|
The
Challenge of Ensuring Full Employment in the Twenty-first
Century |
Oct
12th 2011. Jayati Ghosh |
|
The
recent economic growth process in India and other parts
of the developing world exhibits the inability of even
high rates of output growth to generate sufficient opportunities
for 'decent work' to meet the needs of the growing labour
force. Therefore, there is a clear case for a shift towards
wage-led and domestic demand-led growth, particularly
in the economies that are large enough to sustain this
shift. |
|
India's
Role in the New Global Farmland Grab |
Aug
23rd 2011. Rick Rowden |
|
This
report explores the role of Indian agricultural companies
that have been involved in the recent trend in large-scale
overseas acquisitions of farmland. In addition to examining
the various factors driving the ''outsourcing'' of domestic
food production, the report also explores the negative
consequences of such a trend. It looks at why critics
have called the trend ''land grabbing'' and reviews the
impacts on local peoples on the ground, who are often
displaced in the process. |
|
Food
Prices, Health and Nutrition: Red-flag indicators for
the 12th Plan |
Aug
17th 2011. Rahul Goswami |
|
The
long-term impacts of food inflation on the rural and urban
poor are yielding worrying indicators in India's nutrition
and health sectors. Analysing new data from the NSSO's
66th Round and recent trends in retail food prices, the
author establishes that households in the lower deciles
of consumption in both rural and urban areas have been
hurt the most by the steep rise in the real retail prices
of cereals during 2003 to 2009-10. |
|
Industrialising
India's Food Flows: An analysis of the food waste argument
|
May
23rd 2011. Rahul Goswami |
|
From
the mid-term appraisal of the Eleventh Five Year plan
onwards, central government ministries have been telling
us that post-harvest losses in India are high, particularly
for fruits and vegetables. The amount of waste often quoted
is up to 40% for vegetables and fruits, and has been held
up as the most compelling reason to permit a flood of
investment in the new sector of agricultural logistics,
to allow the creation of huge food processing zones, and
to link all these to retail food structures in urban markets.
The urban orientation of such an approach ignores the
integrated and organic farming approach, as it does the
evidence that sophistication in food processing has not
in the West prevented food loss or waste. |
|
Hunger:
The true growth story in India |
Dec
21st 2010. Aniruddha Bonnerjee and Gabriele Koehler |
|
Although
many of the policies needed for ensuring genuine food
security of the people of India are in place, they require
more public resources and genuinely inclusive and empowering
approach. The specter of hunger in India, the authors
contend, will drive some of the more painful policy changes
and the associated processes and can help the different
policy areas cohere to ensure universal food and nutrition. |
|
Shrinking
Cereals, Growing Food Parks |
May
4th 2010. Rahul Goswami |
|
Although
controlling food inflation and ensuring food security
to the population are two major concerns of the government
at present, data and reports of various studies show very
little improvement on both fronts. On the contrary, the
increasing corporatisation of food production, procurement,
movement and distribution is contributing to household
food insecurity, particularly amongst the rural and urban
poor. |
|
The
Public and the Private |
Sep
4th 2009. Prabhat Patnaik |
|
The
fact that the agrarian crisis or the current raging inflation
in India has not evoked major spontaneous struggles is
linked to the country's transition from a dirigiste to
a neo-liberal economic regime. As Indian capital becomes
increasingly integrated with global financial capital,
and the State increasingly represents the exclusive interests
of the bourgeoisie, the interests of the people are sacrificed
for the sake of the ''nation's'' emergence as an economic
power. Further, the capacity for resistance in our society
is also closely linked to the balance between the public
and private sectors, which too undergoes a fundamental
shift under neo-liberalism. |
|
Indian
Labour Market Report 2008 |
May
11th 2009. |
|
The
paradoxical feature of a positive GDP growth rate along
with unfavourable employment trends have been one of the
most pressing contemporary concerns related to the opening
up of the Indian economy. This first bi-annual report
published by the Adecco-TISS Labour Market Research Initiatives
seeks to provide a thorough analysis of the current situation
of the Indian labour market in terms of its composition
across different segments, sectors, regions and gender.
It includes detailed analysis of unemployed and underemployed
labour force and even those who are not in the labour
force. The industry perspective on issues of employment
is also captured through a primary survey of select industries
in the manufacturing and emerging sectors. |
|
The
Impact of Macroeconomic Change on Employment in the
Retail Sector in India: Policy Implications for Growth,
Sectoral Change and Employment |
May
15th 2008,
Jayati
Ghosh, Amitayu Sengupta & Anamitra Roychoudhury |
|
This
study is concerned with the employment situation in India's
retail sector. High economic growth in India has not produced
satisfactory outcomes of job growth, both in terms of
quantity and quality. Concern has arisen that many of
the working poor engaged in small-scale retailing and
street vending are crowded by entries of large-scale domestic
as well as foreign retailers. Share of workers' income
in manufacturing has also seen a decline, despite labour
productivity growth, during the last decade. This paper
argues that economic policy in India needs to be made
more inclusive and equitable. The only sure way of doing
so would be making it more pro-job and pro-poor, through
examining employment implications of macro policies that
accompany economic liberalization. |
|
Farmers'
Suicides in India: Magnitudes, Trends and Spatial Patterns |
Mar
3rd 2008,
K. Nagaraj |
|
Given
the very large number of suicides by farmers in various
parts of India over the last decade, there is a need
to probe the issue by utilizing a data source which
would provide a comprehensive, nation-wide picture.
This paper is a modest attempt to fill that gap. Its
basic objective is to put together, and carry out a
preliminary analysis on, the secondary data that are
available on farmers' suicides in the country. The paper
studies, first, the magnitude and trends in farmers'
suicides in India over 1997-2006; and second, the regional
patterns, if any, in the incidence and trends in these
suicides. |
|
Private
Equity: A New Role for Finance? |
May
22nd 2007,
C.P.
Chandrasekhar |
|
Given
that a substantial proportion of companies in Asian
developing countries are either unlisted or have a small
proportion of free-floating shares, the surge in investments
by private equity firms suggests that foreign acquisitions
could increase in the region sharply. With foreign investors
controlling a rising share of total assets, the ability
of domestic forces and the domestic State to influence
the pattern and pace of growth of domestic economic
activity would be substantially eroded. |
|
Indian
Economy in the Era of Contemporary Globalisation: Some
Core Elements of the Balance Sheet |
May
17th 2007,
Praveen
Jha & Mario Negre |
|
In
recent years, the 'official' India has been patting
itself on account of accelerated economic growth rates
and the presumed progress in poverty reduction. However,
as this paper argues, the recent economic growth has
been extremely lopsided; more than ever before. Further,
large sections of the country's population continue
to suffer, very acutely, with reference to a whole range
of development deficits. This paper is an attempt to
sketch a snapshot of India's economic growth performance,
along with some of the major development deficits it
is facing. |
|
The
Progress of "Reform" and the Retrogression of
Agriculture |
Apr
25th 2007,
C.P.
Chandrasekhar |
|
The
consequence of recent structural shifts is that the
Indian economy can record the observed creditable rates
of non-inflationary growth of aggregate GDP even when
its agricultural sector languishes. It appears that
a feature of the growth process in a more open and liberalised
environment is that the peasantry has a much smaller
a role in sustaining economic growth and can thus be
partially excluded from development. What is disconcerting
is that the self-correcting mechanism that existed in
the earlier period to restore a semblance of balance
between agricultural and non-agricultural growth are
no more operative. |
|
A
Model of Growth of the Contemporary Indian Economy
|
Apr
10th 2007,
Prabhat Patnaik |
|
This
paper provides a simple model of the current pattern
of India's economic growth process, to reckon with the
fact that even an accelerating growth rate may leave
the unemployment problem completely unresolved, or even
accentuated, as labour productivity rises at a faster
rate than investment. An obvious conclusion that emerges
is that the widely-held perception that higher and higher
growth rates would eventually eradicate unemployment
in the country, is untenable. |
|
Recent
Employment Trends in India and China: An Unfortunate Convergence? |
Apr
5th 2007, C.P. Chandrasekhar & Jayati Ghosh
|
|
This
paper argues that both China and India, despite the
similarity of the current international hype about their
future economic prospects and also despite their obvious
differences, face rather similar economic problems at
present with respect to the labour market. In both countries,
the strategy of development is delivering relatively
high growth without commensurate increases in employment,
especially in the organised sector; and the bulk of
new employment is in lower productivity activities under
uncertain and often oppressive conditions. It is argued
that this paradox may be a common result of the similar
strategy of economic expansion currently being followed
in both countries. |
|
Some
Aspects of the Well-Being of India's Agricultural Labour
in the Context of Contemporary Agrarian Crisis |
Feb
22nd 2007, Praveen Jha |
|
The
tremendous economic pressure that the Indian countryside
has come under in the recent years is bound to impact
the well-being of the masses in the rural economy. This
paper is an attempt to examine the key elements of the
contemporary agrarian crisis and its possible consequences
for agricultural labourers. It appears that their economic
conditions, in any case quite fragile and vulnerable
even in 'better' times, have taken quite a battering
in the recent years. |
|
Poverty
and Neo-liberalism in India |
Jan
6th 2007, Utsa Patnaik |
|
This
paper explores why the official poverty estimates show
low levels as well as decline in poverty in India over
the 1990s, whereas all other economic and social indicators
suggest that absolute poverty is high. The former do
not capture the true picture because the official method
involves the 'fallacy of equivocation'. It is also argued
that when actual rural poverty is as high as nearly
four-fifths of the population and poverty depth is increasing
with a higher proportion of people being pushed down
into lower nutritional status, there is an urgent need
to revert to a demand-driven universal public distribution
system. |
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