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ECONOMIC PERSPECTIVES
C. P. Chandrasekhar is currently Professor at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi. He has published widely in academic journals and is the co-author of Crisis as Conquest: Learning from East Asia (Orient Longman), The Market that Failed: Neo-Liberal Economic Reforms in India (Leftword Books) and Promoting ICT for Human Development: India (Elsevier).
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Modi & constraints of democracy

If India is not to be handed over to big business and a rabidly communal fringe, it is best to keep Narendra Modi out of the Prime Minister’s Office. »

Financial strains in the “new” China

Two recent cases of debt default bring into focus the rising corporate debt in China, estimated at around $12 trillion in 2013, with most of the loans provided by trust companies that populate the shadow banking sector and account for 30 per cent of credit advanced in 2013. »

No method in this confusion

The RBI Governor lays emphasis on high interest rates as an antidote to inflation and, going against conventional wisdom, hopes that this will stall capital flight triggered by the U.S. Fed’s taper and continue to keep the domestic market attractive to foreign investors. »

Black and grey

Unless the RBI makes clear the real intention behind its move on dated currency, the scheme will only serve as a concealed amnesty for the declaration of unaccounted income and wealth by black money holders. »

The more things change…

If American power is measured in terms of the strength of American firms and American capital, hegemony is still with the U.S. The strident cries on the looming threat from China seem to be just propaganda to pre-empt any challenge to existing imperial power. »

Ruling dilemma

In the run-up to the 2014 elections, the Congress-led UPA is facing the twin troubles of stagnant growth and hyperinflation. Since the neoliberal logic allows it little room for fiscal policy manoeuvre, it has opted for expenditure cuts and is left with only monetary options, which will alienate either the poor or big business. »

Shale as saviour?

Production of shale gas and oil has risen significantly in the U.S., but betting on it to deliver the long-awaited recovery would mean ignoring the environmental damage and the cost-benefit mismatch. »

A benchmark for rigging

In the forex market, which is dominated by four banks, the “fixing” of exchange rate benchmarks exposes a systemic fraud that delivers bonuses to the financial services industry at the expense of investors in assets whose returns are linked to these benchmarks. »

Rhetoric of inclusiveness

Now that the general election is near, both the Congress and the BJP swear by “inclusive growth”. But the idea of inclusiveness is incompatible with the neoliberal agenda that both parties follow and serves only an unconcerned elite. »

Shutting out the progressive agenda

The Republican Right in the U.S. goes to the extent of shutting down the government to oppose a health care law that is only a small step forward in repairing a miserably inadequate health security system. »
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C.P. Chandrasekhar
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Russian riposte
 I support the move because any attempt within post-cold war uni-polar world order for assimilating diverse perspectives can only be implemen...»
posted by BIren   on Apr 15, 2014 at 14:35 IST

‘Russia had no other option’
 The strong belief in the doctrine of neo-Eurasianism and aspiration to revive the voice of Greater Russia has promoted Russians for flexin...»
posted by Biren   on Apr 11, 2014 at 15:20 IST

The ‘Great Game’ in Europe
 Amazing article. Its really bewildering to see the forces in action in Ukraine. The Americans and its allies are only responsible for the d...»
posted by cjnelson   on Apr 12, 2014 at 13:46 IST