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

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Delinking Housing Cycles, Banking Crises, and Recession

The nexus of housing boom-busts, banking crises, and economic cycles is not unique to the last crisis and has been increasingly present in each of the major banking crises since the break-up of Bretton Woods in the early 1970s. Housing is a politically charged issue. A safer housing market, via planned fiscal intervention to steady supply, would do more to make the financial system safer than all of the other recent initiatives put together. Cheaper finance without cheaper homes only deepens housing inequality.

People's Movement against Global Capitalism

In the post-cold war world, issues of equality and social justice still remain vital concerns. As the increasing gap between rich and poor countries, and the growing desperation of the poor and the unemployed reveal, market economy is not an all-encompassing panacea and it thus becomes necessary to find an alternative. It is here that civil society and the local community must have the space to act and where necessary even solicit the state's intervention - a moving idea behind those protest movements seen earlier this year. The challenge of the new century is to bring these ideas together in a new consistent design, towards a "mobilisation against globalisation" through which a more humane and equitable economic and social order will possibly take shape.

Sir (Abraham) Jeremy Raisman, Finance Member, Government of India (1939-45)

Sir Jeremy Raisman wore several hats in one lifetime - a successful civil servant followed by an equally distinguished corporate career, yet his towering achievements as a statesman for India's cause during the war years of 1939-45 remain unsung. His contributions that dwarfed, by any criterion, those of his predecessors in office are, however, conspicuously ignored by Indian and British historians of the Raj. But it is for his intuitive understanding of India and its economic and political fundamentals, that Sir Jeremy will remain the ideal last Viceroy India never had.
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