ECONOMIC NOTES

Neo-Fascism and the Concept of the Nation

Certain features associated with neo-fascism have manifested themselves quite clearly during its ascendancy in India. These easily observable features are: the “othering” of a hapless minority and the generation of hatred against it among the majority; the unleashing of repression both by organs of the state as well as by neo-fascist thugs on members of this minority, on critics, on those belonging to the political opposition, on intellectuals, artists and others; and the open, unadulterated class rule by monopoly capital, especially by a newer segment of monopoly capital.

Neo-Fascist Ascendancy and Education

Many thoughtful people believe that the dominance of a small English-speaking elite in the social and intellectual life of India that has continued long after decolonization has been an important factor in arousing the hostility of a segment of the vernacular proto-elite that has felt excluded and hence has gravitated towards the Bharatiya Janata Party; that the BJP in other words represents inter alia a revolt against the dominance of a small English-speaking elite in the affairs of the country.

Oil and the World Economy

THE disruption in oil supplies that started with Iran’s closure of the Hormuz Strait in response to US-Israeli bombings, is playing havoc with the world economy. Oil prices have shot up in terms of US dollars, and this in turn has been accompanied by a depreciation of other currencies, especially Asian currencies, vis-à-vis the dollar, causing even higher inflation in the periphery compared to the metropolitan capitalist centres.

The Falling Rupee

Most Asian currencies have fallen significantly against the US dollar since the start of the US-Israeli war against Iran. Of these however the Indian rupee has been perhaps the worst performer, having fallen to as low as Rs. 93.73 by Friday March 20, from Rs. 91.01 on February 27 the day before the war started.

Imperialism, Oil Prices and the World Economy

World oil prices have finally crossed $100 per barrel this week-end and have even touched $110. Considering the fact that they were around $69 per barrel before the beginning of imperialist aggression against Iran, this represents a very steep climb in just the course of a week. It has been caused less by any actual shortage arising from Iran’s closing of the Strait of Hormuz than by the anticipation of such a shortage arising.

Imperialism, Oil Prices and The World Economy

WORLD oil prices have finally crossed $100 per barrel this week-end and have even touched $110. Considering the fact that they were around $69 per barrel before the beginning of imperialist aggression against Iran, this represents a very steep climb in just the course of a week. It has been caused less by any actual shortage arising from Iran’s closing of the Strait of Hormuz than by the anticipation of such a shortage arising.

Pages

Subscribe to RSS - ECONOMIC NOTES