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

Articles By Arjun Jayadev

Debt Targets Built on Quicksand

Despite being an improvement on the ad hoc and restrictive Fiscal Responsibility and Budget Management framework, the N K Singh Committee report suffers from some shortcomings. A short critique of the report’s framing is presented, suggesting that the report is insufficiently attentive to the considerations of macroeconomic coordination. There is a case for increased fiscal spending that runs counterto the recommendations of the committee.

Healthcare Law in the US and the RTE in India

Earlier this year, the Supreme Court of India upheld the constitutional validity of the Right of Children to Free and Compulsory Education Act 2009 and the Supreme Court of the United States likewise upheld the Patient Protection and Affordable Care Act, 2010. The two pieces of legislation attempt to expand, to a greater or lesser degree, the provision of education and health services, respectively. This article attempts to understand and evaluate the policy debates and legal decisions around the two Acts as attempts by two constitutional liberal democracies to clarify the relationship between the state and private sector, and their respective roles and responsibilities to secure social welfare.

Reading the Signs at the Occupy Movement

The Occupy movement with its myriad signs and slogans still appears to be an inchoate protest movement railing against economic inequality, free market capitalism and its most visible institution - Wall Street in the United States. But its unmistakable insistence on taking on the established political parties - including the Democrats - and its radical democratic form of organisation suggest a new ambitious grass-roots politics with the potential to mature further.

Financial Reform in the US: A Brief Overview

The final contours of the legislation on financial reform that is being enacted in the US are now clear. If the objective was to tackle the most egregious excesses of a wildly out-of-control sector, the bill that will eventually emerge is a reasonable effort. If the goal, however, is to conceive of and develop a 21st century financial sector that is an aid to the real economy and that assists in creating widespread prosperity, then this effort should be seen as a cynical attempt that will fail to do the needful. Proponents of this view suggest that the approach adopted has been regulatory as opposed to structural. The reform process has progressed as if the fundamental problem was a lack of prudential regulations as opposed to the actual social functioning of the financial system in the US.