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

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African Engagement with the Global Economy

Reclaiming Africa: Scramble and Resistance in the 21st Century edited by Sam Moyo, Praveen Jha and Paris Yeros, Springer, 2019; pp 269, 7,503 (hardcover).

 

A Classic of Agrarian History

The Great Agrarian Conquest: The Colonial Reshaping of a Rural World by Neeladri Bhattacharya, Ranikhet: Permanent Black, 2018; pp 542, ₹1,040 (hardcover).

Speaking Truth to Power

A fellow economist reminisces about the personality traits and contributions of Ashok Mitra, a towering intellectual of his time, thereby revealing his powerful and multifaceted persona.

The Banking Conundrum

Neo-liberal banking reform was launched in the early 1990s to address the low profitability of the public banking system and the large presence of non-performing assets. It set itself the objectives of cleaning out NPAs, recapitalising the banks and modifying banking practices to restore profitability and drastically reduce NPA volumes. This did initially have some effect. However, while the NPA ratio fell between the early 1990s and the mid-2000s, it has risen sharply since then. Moreover, while earlier priority and non-priority loans contributed equally to total NPAs, more recently, large non-priority loans to the corporate sector account for the bulk of NPAs. An analysis of these features reveals that these trends are indicative of the failure of neo-liberal banking reform in India.

Statement on the Illegitimate and Inappropriate Use Money Bills and Finance Bills

More than 200 concerned citizens have expressed concern on the classification of the Finance Bill, 2017 as a "Money Bill" and appealed to Vice President Hamid Ansari. The statement is reproduced below:

Do Not Dilute NREGA

[An Open Letter to the Prime Minister on NREGA by economists based in India and elsewhere in the world.]

We are writing to express our deep concern about the future of India’s National Rural Employment Guarantee Act (NREGA).

Keynes vs White at Bretton Woods

The Battle of Bretton Woods: John Maynard Keynes, Harry Dexter White and the Making of a New World Order by Benn Steil (New Jersey: Princeton University Press and Council on Foreign Relations), 2013; pp 449, $29.95 (hardcover).

The Emerging Left in the 'Emerging' World

There is much more dynamism within the global left, especially in the South, than is often perceived. The rejection of capitalism in many of left movements in the South tends to be accompanied not only by imagining alternatives, but also by shifting views about what constitutes the desirable alternative. This, in turn, has meant an interrogation of some previously standard tenets of socialist understanding. This essay reviews several features of emerging left movements in Latin America, Africa and developing Asia that suggest a move away from some traditional ideas associated with socialist theory and practice even as there are two important areas of continuity with the leftist thinking of the past.

Redefining Development and Quality of Life

For those who believe that we are not necessarily condemned to the gloomy status quo and that societies can do things differently, what is happening in Ecuador provides inspiration and even guidance. Ecuador could be one of the most exciting places on earth at present, in terms of new thinking about and actively working towards an alternative development paradigm based on new relationships between economy, society and nature. This article gives an account of Ecuador which is particularly important because it shows how much can be achieved if there is sufficient political will and popular support, even by a small country operating under numerous constraints in uncertain economic times.

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