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Author Archive | Jayati Ghosh

Agustin Marcarian/AFP/Getty Images Comments 3 Add to Bookmarks English Facebook Twitter Whatsapp The IMF’s Latest Victims

The IMF’s latest victims

In 2013, the International Monetary Fund produced a report acknowledging that it had “underestimated” the effects that austerity would have on Greece’s economy. Yet the Fund has made the same mistakes in its subsequent deals with Argentina and Ecuador.

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The Exploitation Time Bomb

The exploitation time bomb

Worsening economic inequality in recent years is largely the result of policy choices that reflect the political influence and lobbying power of the rich. There is now a self-reinforcing pattern of high profits, low investment, and rising inequality–posing a threat not only to economic growth, but also to democracy.

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Wiktor Szymanowicz : Barcroft Media via Getty Images

The political roots of falling wage growth

It’s now official: workers around the world are falling behind. The International Labor Organization’s (ILO) latest Global Wage Report finds that, excluding China, real (inflation-adjusted) wages grew at an annual rate of just 1.1% in 2017, down from 1.8% in 2016. That is the slowest pace since 2008.

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Capitalism Is Doomed — Without Alternatives, So Are We | By Jake Johnson, staff writer | Common Dreams

Not with a bang but with a (prolonged) Whimper

It is probably obvious to everyone that global capitalism is in dire straits, notwithstanding the brave talking up of output recovery that now characterises almost every meeting of the international governing elite. Even so, discussions of the end of capitalism still typically seem overstated and futile, not least because those hoping and mobilising for bringing […]

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Illustration: Andrzej Krauze

After neoliberalism, what next?

We may be living through one of those moments in history that future historians will look back on as a watershed, a period of flux that marked a transition to quite different economic and social arrangements. Unfortunately, in human history a ‘moment’ can be a very long time.

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The Emerging Left in the “Emerging” World

Ralph Miliband Lecture on the Future of the Left, London School of Economics, London, U.K., 28 May 2012 It is a great honour and privilege for me to be invited to deliver this lecture in the Ralph Miliband series on the future of the Left.  Ralph Miliband was not just an outstanding social scientist and […]

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The Dragon’s Shadow: China’s Banking System

On October 10, the Chinese government announced that it will increase its stakes in the four largest commercial banks, which are already largely public-owned.  The move is designed to “support the healthy operations and development of key state-owned financial institutions and stabilise the share prices of state-owned commercial banks”. But why was this move considered […]

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India: The Latest Employment Trends from the NSSO

No sooner were the results of the 66th Round of the National Sample Survey Organisation (relating to data collected in 2009-10) released, than they became the subject of great controversy.  Surprisingly, the controversy was created not by critics of the government and its statistical system, but from within government circles! Some highly placed officials found […]

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Global Oil Prices

There was a time when global oil prices reflected changes in the real demand and supply of crude petroleum.  Of course, as with many other primary commodities, the changes in the market could be volatile, and so prices also fluctuated, sometimes sharply.  More than anything else, the global oil market was seen to reflect not […]

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Public Spending on Education in India

The failure of the Indian state more than six decades after Independence to provide universal access to quality schooling and to ensure equal access to higher education among all socio-economic groups and across gender and region must surely rank among the more dismal and significant failures of the development project in the country.  It is […]

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