ECONOMIC NOTES

Is “De-Globalisation” Occurring?

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×MANY economists these days talk of a process of “de-globalisation” taking place; some others talk of the neoliberal regime of yesteryears no longer existing. Of course, nothing remains the same forever: as the Greek philosopher Heraclitus had said “You cannot step into the same river twice”; some change in the neoliberal order therefore is inevitable with the passage of time.

Exchange Rate Depreciation and Real Wages

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×MOST people, including even trained economists, fail to appreciate the fact that an exchange rate depreciation, if it is to work in reducing the trade deficit in a capitalist economy, must necessarily hurt the working class by lowering the real wage rate.

The US Debt Ceiling Debate

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×UNDER pressure from globalised finance capital, most countries of the world have enacted legislation fixing the size of the fiscal deficit as a proportion of GDP; generally it is 3 per cent, and in India it is 3 per cent for the centre and 3 per cent for the states. The US however has no such legislation; instead what it has is a ceiling on the absolute stock of public debt that can be held at any point of time.

Public Opinion and Imperialism

A New York Times News Service report reproduced in The Telegraph of Kolkata (May 7), discusses the findings of a global public opinion survey carried out by the Bennett Institute of Public Policy of Cambridge University. These show that the Ukraine conflict had shifted public sentiment “in developed democracies in East Asia and Europe as well as the United States of America, uniting their citizens against both Russia and China and shifting mass opinion in a more pro-American direction”; by contrast “outside this democratic bloc, the trends were very different”.

Threats to the Hegemony of the Dollar

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×JANET Yellen, the US treasury secretary, has finally acknowledged what has been obvious to most people for quite some time, namely that the imposition of sanctions against countries that the US is hostile to, runs the risk of jeopardising the hegemony of the dollar as the world’s reserve currency.

OPEC+ and Capitalism’s Fight against Inflation

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×Except in war-time, capitalism invariably seeks to control inflation by creating a recession; and this is so even when the inflation has been caused by an autonomous increase in capitalists’ profit-margins which are downward inflexible and hence would not be reduced by a recession.

The Rubber Farmers’ Woes

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×RUBBER prices, which had recovered a little after the fall during the pandemic, have collapsed again, with the farmers in Kerala, which grows 80 per cent of the country’s rubber crop, being badly hit.

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