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  • Monthly Review Essays

About Jayati Ghosh

Jayati Ghosh is professor of economics at Jawaharlal Nehru University, New Delhi, and the executive secretary of International Development Economics Associates (IDEAS). She is closely involved with a range of progressive organisations and social movements. She has written for Monthly Review and blogs at triplecrisis.com and networkideas.org/jayati-blog.
  • Sri Lanka faces crippling debt repayments of more than $31 billion in this decade, unless these are reduced by write-offs or restructuring (GoodIdeas/shutterstock.com)

    How not to deal with a debt crisis

    Originally published: Social Europe on January 16, 2023 (more by Social Europe)

    Jayati Ghosh warns against historically disastrous approaches to the sovereign-debt crisis hitting low- and middle-income countries.

  • Price pain: It is not the supply-side pressures but profiteering by agribusiness majors that is driving food prices | Photo Credit: SUSHIL KUMAR VERMA

    A food crisis not of their making

    Originally published: The Hindu Businessline on September 19, 2022 (more by The Hindu Businessline)

    The crisis in low, middle-income nations is driven by speculation, falling purchasing power and depreciating currencies.

  • Earth

    Achieving Earth for all

    Originally published: Project Syndicate on July 12, 2022 (more by Project Syndicate)  |

    Because the changes needed to achieve sustainable well-being for everyone are so big, they require determined social movements with wide participation. But while history shows that inertia and defeatism can become self-fulfilling, it also shows that governments ultimately have to respond to popular pressure–or be replaced by it.

  • Financial market

    Capital flight from emerging markets

    Originally published: IDEAs (International Development Economics Associates) on July 26, 2022 (more by IDEAs (International Development Economics Associates))  |

    Financial markets in the so-called ‘emerging economies’ are in turmoil. At the end of May 2022, the Financial Times reported that the return delivered by emerging market (EM) sovereign bonds was around minus 15 per cent for 2022, the worst since 1994.

  • Lovely Wheat field

    Why are global wheat prices rising so much?

    Originally published: IDEAs (International Development Economics Associates) on June 14, 2022 (more by IDEAs (International Development Economics Associates))  |

    The global food crisis has now grown to such proportions that everyone is talking about it (even though world leaders are doing relatively little about it).

  • The feminist building-blocks of a just, sustainable economy

    The feminist building-blocks of a just, sustainable economy

    Originally published: Social Europe on November 15, 2021 (more by Social Europe)

    Jayati Ghosh finds in a UN Women report a blueprint for an economy which serves the public—rather than the other way around.

  • Debt campaigners protest the impact of "vulture funds" on Argentina outside the office of Elliott Advisors, owners of NML Capital, in New York in February 2013.

    How emerging markets hurt poor countries

    Originally published: Boston Review on October 13, 2021 (more by Boston Review)  |

    Financial globalization was supposed to spur development. Instead, it transfers money to the global North and exacerbates existing inequalities.

  • Bilateral US deficits with China

    What has the Trade “War” between the United States and China achieved?

    Originally published: IDEAs (International Development Economics Associates) on October 5, 2021 (more by IDEAs (International Development Economics Associates))  |

    On July 6, 2018, U.S. President Donald Trump unilaterally imposed a 25 per cent tariff on Chinese imports of around $34 billion, and further tariffs in 2018 and 2019—claiming that trade between U.S. and China had been unfairly skewed in China’s favour and needed to be rebalanced.

  • Photo courtesy of Greenpeace Southeast Asia

    Time is running out for a new agricultural model for the global south

    Originally published: IDEA's (International Development Economic Associates) on September 21, 2021 (more by IDEA's (International Development Economic Associates))

    Agriculture—especially industrial agriculture requiring chemical inputs—is cause and victim of these changes. Cultivation patterns such as mono-cropping, with heavy reliance on groundwater and chemical inputs, have reduced the food sovereignty of poor countries and generated growing environmental problems.

  • Even in the U.S. public investment far outweighed private investments

    Is public investment holding up global capitalism’s dynamism?

    Originally published: The Hindu Business Line on September 6, 2021 (more by The Hindu Business Line)  |

    Capitalism is supposed to be all about economic growth, through the dynamism that is created by competition. This growth is meant to be driven by investment (or accumulation) which, in turn, is used to justify the shares of national income that are delivered to private profits, to the owners of capital.

  • Luis Robayo/AFP

    Apocalypse or cooperation?

    Originally published: Project Syndicate on August 12, 2021 (more by Project Syndicate)  |

    The perfect storm of COVID-19 and climate change, and the resulting economic damage, will most likely trigger much more social and political instability. Although substantially increased international cooperation can still avert this nightmarish scenario, the current state of global politics provides few grounds for optimism.

  • Samir Amin- From Dakar with Love | Business Vision bv.world

    Interpreting contemporary imperialism: lessons from Samir Amin

    Originally published: Review of African Political Economy on March 11, 2021 (more by Review of African Political Economy)  |

    Samir Amin’s life and work left behind many important legacies, which can continue to enrich us if only we recognise them adequately. He brought an indefatigable ‘optimism of the will’ to complex processes of political, social and economic change, involving an energy that was not deterred at all by the ‘pessimism of the intellect’ that his razor-sharp mind could generate.

  • Elderly waiting in line for their shots at a mass vaccination drive at Ecatepec town of Mexico (22 February) | Jose M. Ruiz/Eyepix/abacapress.com

    The political economy of COVID-19 vaccines

    Originally published: The Indian Forum on March 5, 2021 (more by The Indian Forum)  |

    Vaccine grabs, the refusal to relax patents to enable mass production, and the use of vaccines for diplomacy run the risk that poorer nations may not be protected against Covid-19 quickly enough. This will prolong the pandemic, even for the richer nations.

  • Source for Figures 1-3: The State of Food Insecurity and Nutrition in the World 2020, FAO and others

    Hunger, again

    Originally published: IDEA's (International Development Economic Associates) on February 23, 2021 (more by IDEA's (International Development Economic Associates))

    The world has been preoccupied with the COVID-19 pandemic, and this has also affected policymakers everywhere. There is much more recognition today of the terrible effects of underfunding public health over decades and how this affects the resilience of economies and societies.

  • Projected Wealth Inequality (Photo: Wikimedia Commons)

    Prepare for a surge in Global inequality

    Originally published: IDEA's (International Development Economics Associates) on January 12, 2021 (more by IDEA's (International Development Economics Associates))  |

    The evidence clearly is that the Covid-crisis has upended the fiscal conservatism that has been the hallmark of the neoliberal era since the 1980s.

  • Bilateral swaps’ role in China’s rising global footprint.

    Bilateral swaps in China’s global presence

    Originally published: Business Line on December 14, 2020 (more by Business Line)  |

    China’s use of yuan-denominated central bank swaps, while enhancing its influence, is a source of support for developing countries in an unequal international order.

  • UKRAINE - 2020/11/13: In this photo illustration a syringe and a small bottle with fake vaccine seen in front of the World Health Organization (WHO) map showing the COVID-19 coronavirus cases. (Photo Illustration by Pavlo Conchar/SOPA Images/LightRocket via Getty Images)

    Vaccine apartheid

    Originally published: Project Syndicate on November 16, 2020 (more by Project Syndicate)  |

    These hopes may not last long. The announcement has sent governments scrambling to lay claim to vaccine doses, apparently realizing a bleak prediction: wealthy countries and individuals will monopolize early doses of any effective vaccine.

  • Jayati Ghosh

    Discrimination and bias in economics, and emerging responses

    Originally published: Miami Institute for the Social Sciences on November 18, 2020 (more by Miami Institute for the Social Sciences)

    Recently, mainstream economics has been forced to acknowledge some of the explicit and implicit forms of discrimination and bias that are rampant in the discipline, thanks in particular to some brave interventions by some women economists.

  • China’s economy has rebounded sharply after declining in the first quarter of 2020 - Bloomberg

    Growing divergence between China and ‘Developing Asia’

    Originally published: The Hindu Business Line on November 2, 2020 (more by The Hindu Business Line)  |

    The past year has brought into sharp relief the significant differences between China and the rest of the world.

  • Work load: Rural women spend nearly six and a half hours every day in unpaid activities - Kamal Narang

    It’s all work and no pay for most women in India

    Originally published: The Hindu Businessline on October 5, 2020 (more by The Hindu Businessline)

    The NSSO’s time use survey reveals striking facts about how men and women in India spend their time very differently, with women hugely burdened by unpaid work

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Also By Jayati Ghosh in Monthly Review Magazine

  • Climate Imperialism in the Twenty-First Century July 01, 2022
  • The Creation of the Next Imperialism July 01, 2015
  • Women, Labor, and Capital Accumulation in Asia January 01, 2012

Books By Jayati Ghosh

  • Capital Accumulation and Women’s Labor in Asian Economies April 30, 2008

Monthly Review Essays

  • Extractivism in the Anthropocene
    John Bellamy Foster Dio Cramer

    Late Imperialism and the Expropriation of the Earth.

Lost & Found

  • End of Cold War Illusions
    Harry Magdoff F-16N Fighting Falcon

    In this reprint of the February 1994 “Notes from the Editors,” former MR editors Harry Magdoff and Paul M. Sweezy ask: “The United States could not have won a more decisive victory in the Cold War. Why, then, does it continue to act as though the Cold War is still on?”

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