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Last updateSat, 22 Jul 2017 6am

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Financial crisis and India's misplaced optimism

The prime minister and finance minister have reiterated that India’s economy will continue to grow at 7-8%. Suchita Vemuri analyses the consequences of this misplaced optimism


Spreading the wealth

By shifting the distribution of income and wealth in their own favour, the world's elites have dug their own economic graves, says Aseem Shrivastava. The way out of the present crisis is the old Keynesian one of stimulating demand in the economy. A massive redistribution of income and wealth towards the poor is called for. And only governments can do this


Debating the ideology of globalisation

Baffled by the refusal of their IIT students – and indeed most middle class people -- to see the flip side of globalisation, Rahul Varman and Manali Chakrabarti engaged the students in a semester-long debate on globalisation. The interaction provided useful insights into how dominant ideologies are shaped


The end of the 'free market' reign?

With repeated government bailouts of profit-seeking, loss-avoiding financial companies in USA, the very heartland of global capitalism, we have arrived at the end of an era of unquestioned faith in the magic of free markets, says economist Aseem Shrivastava


Towards the Solidarity Economy

It is important for the corporate sector to move beyond the PR rhetoric of ‘corporate social responsibility’ to ‘corporate accountability’, says John Samuel, laying out the principles of the solidarity economy -- an alternative to the free-market economy -- where ethics of production, markets, investment and consumption is central to promoting sustainability


G8 Hokkaido: An exercise in escapism

The G8 summit concluded with more empty rhetoric on the global fuel, food and climate crisis. The answer might lie in reforming the multilateral United Nations process rather than furthering the quasi-global governance posturing of G8 leaders, says John Samuel


Can the oil crisis usher in a New Deal for the world?

We could be on the threshold of a new phase of globalisation, one where there will be a new protectionism, more regional trade and regional economic activism and where governments will be forced to address the problems of the vulnerable middle class and poor, argues John Samuel


Poised for stagflation

Ideas, knowledge, art and travel are things which should be international, but let goods be homespun whenever possible, said John Keynes in 1933. Are we realising the wisdom of Keynes' statement now, with India facing rising inflation with economic slowdown? Is this the result of the blanket opening up of the Indian economy? Are there lessons to be learnt about the benefits of a more selective opening up, asks economist Aseem Shrivastava


Localisation is about bringing the economy back to a human scale

By Naveen Vasudevan

Helena Norberg Hodge has documented the effect of globalisation and conventional development on Ladakh over 30 years and come to the conclusion that there is a middle ground between staying in the past and embracing globalisation to the total annihilation of the local culture


India-Africa Summit: Use and Abuse of Africa in India

The task of mainstreaming Africa in India presents both a risk and a challenge, says Mukul Sharma