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  • Monthly Review Essays
  • | The SP 500 has fallen by a fifth since the start of the year Image Public Domain | MR Online

    The ‘rent good’ and imperialism

    Originally published: Peoples Democracy on January 29, 2023 (more by Peoples Democracy)  |

    A “rent good” is one whose supply cannot be augmented at will, simply through investing more on its production; its supply is subject to constraints imposed by nature, because of which there is a certain maximum rate of long-run growth which is exogenously given and cannot be altered at will.

  • | Mukesh Ambani | MR Online

    Shocking inequality: Richest 21 Indian billionaires have more wealth than 700,000,000 Indians

    Originally published: Peoples Democracy on January 23, 2023 by Savera (more by Peoples Democracy)  | (Posted Jan 23, 2023)

    Under the Modi government, India’s ruling classes have joined the ruling classes of the rest of the world in intensifying exploitation and earning super profits.

  • | Packed like sardines | MR Online

    The abuse of the concept of “populism”

    Originally published: Peoples Democracy on January 22, 2023 (more by Peoples Democracy)  |

    ALL regimes based on class antagonism require a discourse to legitimise class oppression and this discourse in turn requires a vocabulary of its own. The neoliberal regime too has developed its own discourse and vocabulary and a key concept in this vocabulary is “populism”.

  • | IMF not happy with NRBs role to effectively track Nepals banking sector | MR Online

    The impending world recession

    Originally published: Peoples Democracy on January 15, 2023 (more by Peoples Democracy)  |

    The IMF managing director Kristalina Georgieva has now openly admitted that the year 2023 will witness the slowing down of the world economy to a point where as much as one-third of it will see an actual contraction in gross domestic product.

  • | Queen Victoria and her Indian servant Abdul Karim 1893 | MR Online

    Imperialism and the agrarian crisis

    Originally published: Peoples Democracy on January 1, 2023 (more by Peoples Democracy)  |

    THE hegemony of imperialism is invariably associated with an agrarian crisis in countries of the global south; in fact agrarian crisis is just the other side of the ascendancy of imperialism. This is evident from the case of Indian agriculture.

  • | It takes money to make money Strong Towns | MR Online

    On income and wealth inequality

    Originally published: Peoples Democracy on December 18, 2022 (more by Peoples Democracy)  |

    THE fact that income and wealth inequalities have increased quite dramatically under the neo-liberal regime is beyond dispute. The empirical work by Piketty’s team bears out the increase in income inequality. They use income tax data to infer about the share of the top 1 per cent of the population of a country in its national income.

  • | Energy storage allows producers to store solar energy and sell it later when the sun is not shining | MR Online

    Hypocrisy of the rich countries and the green energy’s storage problem

    Originally published: Peoples Democracy on December 11, 2022 (more by Peoples Democracy)  |

    THE crux of the issue is that non-fossil, or even a low fossil fuel path, will need grid-level storage costs to drop by a factor of 10 times what they are today!

  • | Neo Liberalism and the Diffusion of Development | MR Online

    The working class under neo-liberalism

    Originally published: Peoples Democracy on December 11, 2022 (more by Peoples Democracy)  |

    A NEO-LIBERAL regime entails a spontaneous change in the balance of class power against the working class everywhere. This happens for a number of reasons.

  • | Data Household financial liabilities decline sharply in 2019 20 factlyin | MR Online

    The outflow of finance from the periphery

    Originally published: Peoples Democracy on November 20, 2022 (more by Peoples Democracy)  |

    In the current calendar year an estimated $200 billion has already flown out of India which amounts to a third of India’s exchange reserves.

  • | Food Corporation of India | MR Online

    Economics and dishonesty

    Originally published: Peoples Democracy on November 13, 2022 (more by Peoples Democracy)  |

    In 1973-74 the Planning Commission in India had defined poverty as the inability to access 2400 calories per person per day in rural India (in practice however it applied a lower 2200 calories norm), and 2100 calories per person per day in urban India.

  • | Prime Minister Rishi Sunak arrives in Downing Street | MR Online

    The triumph of the City

    Originally published: Peoples Democracy on November 6, 2022 (more by Peoples Democracy)  |

    THE triumph of the City of London, the one square kilometre next to Liverpool Street station that houses the citadel of British finance, is complete.

  • | Liz Truss | MR Online

    Whatever happened to Liz Truss?

    Originally published: Peoples Democracy on October 30, 2022 (more by Peoples Democracy)  |

    The most intriguing question with regard to Liz Truss’ resignation as the prime minister of Britain after a mere 44 days in office is this: what is it about her economic programme that the “market” (read “finance capital”) found unpalatable?

  • | Report Huawei Sanctions Would Destroy US Chip Industry | Orinoco Tribune | MR Online

    U.S. Chip War version 2: Decoupling from China or declaring war?

    Originally published: Peoples Democracy on October 23, 2022 by Prabir Purkayastha (more by Peoples Democracy)  | (Posted Oct 24, 2022)

    The U.S. has gambled big in its latest, across-the-board sanctions on Chinese companies in the semiconductor industry, believing it can kneecap China and retain its global dominance.

  • | Accumulation of risk | MR Online

    Hunger and poverty

    Originally published: Peoples Democracy on October 23, 2022 (more by Peoples Democracy)  | (Posted Oct 22, 2022)

    THE Global Hunger Index (GHI) for 2022 has just come out, which shows India occupying the 107th position among the 121 countries for which the index is prepared (countries where hunger is not a noteworthy problem are left out of the index).

  • | Oil Barrels Photo Jouni Lehti Flickr | MR Online

    The OPEC’s decision to cut oil output

    Originally published: Peoples Democracy on October 16, 2022 (more by Peoples Democracy)  |

    WHAT is called OPEC+, that is the 13 members of the Organisation of Petroleum Exporting Countries (OPEC) together with 11 other petroleum exporting countries led by Russia, decided on October 5 to cut their oil production by 2 million barrels per day, starting from November. The U.S. had been pressing OPEC not to take this decision.

  • | Banco de Inglaterra Londres Inglaterra 2014 08 11 Photo Diego Delso Wikimedia | MR Online

    Acceleration in Eurozone inflation rate

    Originally published: Peoples Democracy on October 9, 2022 (more by Peoples Democracy)  |

    FOR the first time ever, the annual rate of inflation in the Eurozone, measured by the Consumer Price Index, has reached double digits: it exceeded 10 per cent in September 2022, up from 9.1 per cent in August.

  • | It takes money to make money Strong Towns | MR Online

    The new threat on the Foreign Exchange front

    Originally published: Peoples Democracy on October 2, 2022 (more by Peoples Democracy)  |

    ON September 23, the value of the rupee vis-a-vis the dollar fell to a new low: it crossed 81 to a dollar after some weeks of relative stability when it hovered between 79 and 80.

  • | dollars and euros background | MR Online

    Europe’s economic Hara-Kiri

    Originally published: Peoples Democracy on September 25, 2022 (more by Peoples Democracy)  |

    It is not just the immediate effect on Europe that threatens to be severely adverse; capital has already started relocating away from Europe to the United States, a trend that will inevitably gather momentum, so that long-term growth and hence employment prospects on that continent will also be affected.

  • | Economy | MR Online

    Controlling inflation at the expense of working class

    Originally published: Peoples Democracy on September 4, 2022 (more by Peoples Democracy)  |

    ECONOMISTS distinguish between two kinds of inflation: “demand-pull” and “cost-push”.

  • | Dollar Bomb | MR Online

    Sanctions and the decline of the dollar

    Originally published: Peoples Democracy on August 21, 2022 (more by Peoples Democracy)  |

    The hegemony of the U.S. dollar was based on the fact that the world’s wealth-holders considered it to be “as good as gold”, even when it was no longer officially convertible to gold at a fixed rate, as it had been under the Bretton Woods system, after the collapse of that system.

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