ECONOMIC NOTES

Is What We Have “Crony Capitalism”?

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×               FASCISTIC elements exist in every modern society, but usually as fringe, marginal or minor elements. They move centre-stage only when they get the support of monopoly capital which provides them with ample money and media coverage; and this happens when there is a capitalist crisis that substantially increases unemployment and puts a question mark on the hegemony enjoyed by monopoly capital until then.

The FCI’s Bizarre Logic

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×THE Karnataka government’s plan to launch its “Anna Bhagya” scheme on July 1 under which it was planning to provide 10 kg of free rice per month to each family below the poverty-line has run into problems because of the Food Corporation of India’s unwillingness to sell any rice to that state.

The Implications of Dollar Hegemony

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×HOW exactly is the dollar’s status as reserve currency related to imperialism? This question has two parts: how this status of the dollar is related to US imperialism, and how it is related to the overall imperialist arrangement.

Pitfalls of Export-Led Growth

AFTER Sri Lanka and Pakistan, Bangladesh has become the third country in our neighbourhood to become afflicted by a serious economic crisis. It has asked for a $4.5 billion loan from the IMF, apart from $1 billion from the World Bank and $2.5-3 billion from multilateral agencies and donor nations.

The Q4 GDP Estimates for 2022-23

Enable GingerCannot connect to Ginger Check your internet connectionor reload the browserDisable in this text fieldRephraseRephrase current sentenceEdit in Ginger×THE estimates of India’s Gross Domestic Product for the fourth quarter of 2023 were released on May 31. These show a growth rate of 6.1 per cent over the fourth quarter of the previous year, which is higher than the 4.4 per cent growth that the October-December quarter had recorded over the corresponding quarter of the previous year.

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”.

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