ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Articles by Amit BhaduriSubscribe to Amit Bhaduri

The Politics of 'Sound Finance'

With the retreat of Keynesianism in the advanced industrial economies and the Fund-Bank backing a whole array of financial market friendly policies, including those based on the principle of sound finance, the United Progressive Alliance government is falling in line by being overly concerned about the perception of private foreign investors. In this context one needs to consider what strategic interests are being served by the implementation of the Fiscal Responsibility and Budget Management Act.

Urban Water Supply: Reforming the Reformers

The World Bank has been promoting the public-private partnership model based on management contracts in developing countries. In such contracts, all the risks are borne by the government while the companies do not invest a penny. Investment and expenditure becomes the responsibility of the government, and the companies only provide "super managers", with complete control over the management, finances and assets of the utility and get a fat annual fee. The adoption of the same model by the Delhi government for pursuing reforms in the water sector was met by protests. The now on-hold Delhi project is worth examining in some detail for the lessons it can teach us.

Impaired by Methodological Individualism

Impaired by Methodological Individualism Scarcity, Cooperation and Conflict: Essays in the Political and Institutional Economics of Development by Pranab Bardhan; MIT Press, Cambridge Massachusetts, 2005;

First Priority: Guarantee Employment and the Right to Information

It is a misfortune for both the theory and practice of economic policy in India that we have not yet worked out a coherent scheme about how to take advantage of an expanding domestic market involving the poor and the marginalised in this era of globalisation. The expansion in purchasing power can come from public works financed initially, if necessary, through deficits of central and state budgets. The panchayats must have the full financial authority to design and implement these projects. Transparency and the right to information at all levels would be the mechanism through which our political democracy is brought closer to our as yet grossly distorted economic democracy.

Relevance of Michal Kalecki Today

Relevance of Michal Kalecki Today Amit Bhaduri Kazimlerz Laski Both the 'paradox of thrift' and the wage cut controversy point to the critically important role that aggregate demand plays in determining the level of economic activity, output and employment. And yet before Kalecki and Keynes, economic theory was devoid of any theoretically precise formulation of how this aggregate level of demand is generated in a market economy.

Krishna Bharadwaj

religious harmony, quoted a government order instructing public servants to ensure that no discrimination on religious grounds should take place. He failed to add that, such orders arc being violated almost every day at the lower levels of the administration in matters like appointment and promotion

Economics of Perestroika

Economics of Perestroika Amit Bhaduri The Economics of Perestroika by A Vyas and A V Vernikov; Ajanta International, Delhi, 1991; pp 112, Rs 120.

Return to Classical Writings

Return to Classical Writings Amit Bhaduri Themes in Valur and Distribution by Krishna Bharadwaj; Oxford University Press, New Delhi, 1990; pp 341, Rs 225.

CAPITAL VIEW

compounded not only by giving weightage to Centrally-sponsored schemes in different areas of development which fall within the sphere of responsibility of the states, but also by more detailed supervision by Central authorities of the allocation of funds and their deployment under these schemes. This is bound to hamstring the initiative of the states in the implementation of these schemes in the light of local conditions and circumstances. Such a dispensation is bound to create frictions and tensions in Centre- State relations which will in due course find political expressions in a variety of ways and forms. The fact is that the Prime Minister does not subscribe and is indeed allergic to the concept and principles of a federal polity. He is fond of insisting that India is not a federal set-up but is a union in which Central authority is supreme and must prevail in regulating relations between the Centre and states. This is the basic position which colours his views on strengthening national unity and integration.

CAPITAL VIEW

compounded not only by giving weightage to Centrally-sponsored schemes in different areas of development which fall within the sphere of responsibility of the states, but also by more detailed supervision by Central authorities of the allocation of funds and their deployment under these schemes. This is bound to hamstring the initiative of the states in the implementation of these schemes in the light of local conditions and circumstances. Such a dispensation is bound to create frictions and tensions in Centre- State relations which will in due course find political expressions in a variety of ways and forms. The fact is that the Prime Minister does not subscribe and is indeed allergic to the concept and principles of a federal polity. He is fond of insisting that India is not a federal set-up but is a union in which Central authority is supreme and must prevail in regulating relations between the Centre and states. This is the basic position which colours his views on strengthening national unity and integration.

Towards a Macro-Economics of India

Towards a Macro-Economics of India Amit Bhaduri The Labour Surplus Economy: A Neo-Keyneaian Approach by Mihir Rakshit; Macmillan India Limited, 1982; pp ix + 295, Rs 110.

Share of Wages in National Income in a Capitalist Economy

Share of Wages in National Income in a Capitalist Economy Amit Bhaduri The Share of Wages in National Income by Ashok Mitra; Oxford University Press, Bombay, 1980; pp vi + 152, Rs 75.

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