Articles by Arun Ghosh

The 'globalisation' of the world is inevitable; new technology has already brought it about But we must all bend our minds to determining how the benefits of new technology can be reached to the entire humankind, instead of enhancing the 'distance' between peoples and nations.

Savings and Investment: Some Issues Arun Ghosh The steep increase claimed in domestic saving from 21.4 per cent of GDP in 1993-94 to 24.4 per cent in 1994-95 raises some questions which call for explanations from the CSO and the RBI. First, part of the rise in saving represents rise in speculative inventory holding and so cannot be said to reflect improved health of the economy and buoyancy of investment. Second, a significant part of the higher saving represents saving out of the sharply increased remittances from Indian workers from abroad in 1994-95. Such saving, while part of 'national saving' cannot be considered part of 'domestic' saving.

Governance, Institution-Building and Economic Development Arun Ghosh THE debate (in recent years) about the efficacy or the 'tree market' system versus 'government intervention' in promoting economic development has become, in today's framework, generally irrelevant in India. Unfortunately, very few of the debaters have even bothered to go into the question of 'institution building', no matter what pattern of development is adopted. People do admit to the need for law and order, for the rule of law and, more recently, for some stability of policies. These arc doubtless essential, hut the bulk of the people may then ask, stability and law and order for whose benefit? Law and order, in certain situations, may be tantamount to mere maintenance of" the status quo; so it may be more important to focus on the need for fostering the 'institutions' which may be deemed to be essential for any kind of development effort; and it is also essential to ensure that the strategy is for broad-based development.

Crimes of Unreason Arun Ghosh The economic philosophy of neoclassical economists of late, in the fetish about individualism, can only be described as a ' crime of unreason'.

Health Care and Globalisation Case for a Selective Approach Arun Ghosh A look at some indicators of health in the period 1990-93, after the enforcement of structural adjustment, contrasted with those for the period 1987-90 yields a picture which should cause serious concern, though not much surprise since the public health infrastructure in terms of the lakhs of primary health centres set up by the government over the years is now lying unused with practically no drugs available because of the sharp cut in public expenditure on health and the focus on privatisation of health services.