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The Outflow of Finance from the Periphery*
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Nov 21st 2022, Prabhat Patnaik
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There
are two defining and portentous features of the current
world economic situation. One, which is well discussed,
is the world-wide increase in interest rates in response
to the pervasive inflationary upsurge; it would indubitably
generate recession and unemployment, which, notwithstanding
all protestations to the contrary, is the real objective
behind it.
*
This article was originally published in People's
Democracy on November 20, 2022.
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