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

Avinash PersaudSubscribe to Avinash Persaud

A New Development Model for the New Economy

The new economy needs a development model that is people-centric, not production-driven. Emphasis, therefore, must be on the development of human capital. But, public education and health are not enough to break out of the middle-economy track. The world’s most pressing problems, from climate change to the future of work are all manifestations of inequality. The role of government is to not only be a more effective provider of learning and health, but also to be an agent for greater access to opportunity and changing patterns of ownership at all levels.

Dangers of Unbounded Capitalism

One of the best books on the global financial crisis, Crashed by Adam Tooze slays the idea that the policy response was about the technical ability of brave officials and not bare political choices. This point, augmented with stories of deep financial integration between China, Europe and the United States, is a devastatingly insightful description but not a prescription. Although Tooze says that the story is a perennial one of instability of capitalism, he neglects history and the relatively successful way the world responded in Bretton Woods, when unstable capitalism last engulfed us in crisis.

Beyond the Rhetoric on Climate Change

In the climate change debate, a number of industrialised governments and multilateral development organisations push for greater use of risk finance products and financial innovation in general. But, insurance is no solution to climate change because it is no solution to risks that are rising in time and correlation. It is merely a way of getting the victims of climate change to pay for it themselves and not the contributors.

That Sinking Feeling

The United States (US) is sinking. It is what happens to a country when it blames everyone else for its ailments. The problem is that when the biggest boat in the water sinks, it pulls others down with it. This is not, therefore, time for the rest of the world to indulge in Schadenfreude over the...

The Corruption of Economics

Twilight of the Money Gods: Economics as a Religion and How It All Went Wrong by John Rapley, London: Simon and Schuster, 2017; pp 468, £20.

Pages

Back to Top