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

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Referees Consulted in 2012

EPW hopes the list is complete and apologises if the name of any referee has been excluded. Errors will be corrected on the web site.

Detergents without Imports

NEGOTIATIONS arc under way between some leading units in the soap industry, the Government of India and an American firm, Atlantic Richfield, for establishing a project for manufacture of alkylate, an important raw material required for production of synthetic detergents. Alkylate is at present entirely imported and is thus a major constraint on the production and price of synthetic detergents

Capitalism, Exclusion, Transition: The Politics of the Present

Kalyan Sanyal's magnum opus, Rethinking Capitalist Development, can be seen as a contribution to the project of reimagining political economy in a way that would place "unsolved political problems" at its centre. It could also be described as a response to the opaqueness of economic processes today and their apparent resistance to existing categories and frameworks. Despite the irony in the fact that it is unlikely to be read by many economists, this treatise is what every author would want her book to be - generous, fertile and good to think with.

The Many Lives of Kalyan Sanyal

Kalyan Sanyal was trained as a trade theorist in the mid-1970s and initially made many signifi cant contributions in the fi eld. But he later abandoned neoclassical economics to turn to a study of the Marxian approach to development. An appreciation by a former younger colleague who has an intellectual debt to Sanyal's work in trade theory.

Teesta, Tipaimukh and River Linking: Danger to Bangladesh-India Relations

The Supreme Court's verdict directing the Government of India to implement the interlinking of rivers seems to have overlooked the regional and international implications of what the Indian Court strangely considers "the rivers of the country". Just Bangladesh shares 54 rivers with India. Any unilateral action by India on any of its international rivers will degrade its relations with its neighbours while also adversely affecting its ecology, economy and society.

Resuscitating a Failed Idea: Notes from Bihar

The idea of a national interlinking of rivers needs to base itself on the past six decades' experience of river and fl ood control measures. A contribution from Bihar shows that not only is the state's "surplus water" tag a bit incorrect, the very structures - dams, canals and embankments - which are proposed to implement the river interlinking project have been a big failure. Then what explains the enthusiasm for this failed idea?

Water Science in India Hydrological Obscurantism

The proposal for addressing the twin problems of fl oods and water scarcity by interlinking rivers is based on an outdated and dangerous idea of surplus river basins from which water can be drawn at will. Global experience shows how damaging such plans of large-scale water transfer are to the environment, economy and livelihoods of the people. Such plans have also proved a failure to either prevent fl oods or provide water on a sustainable basis. It is unfortunate that water policy in India remains a prisoner to such obsolete ideas.

Governance Changes or Privatisation?

The Government of India, acting through the human resource development ministry, is actively considering a series of drastic changes to the governance structure and the role of faculty in the IIM system, based on the recommendations of two committees chaired by Ajit Balakrishnan and R C Bhargava. The proposed changes have potentially far-reaching consequences on the future of IIMs and raise important questions on the methodology followed, the lack of participation by key stakeholders, the lack of public consultation and, in general, a lack of professionalism in formulating such important policy recommendations. The present paper contains a discussion of some of these issues, with a view to promoting active participation by various stakeholders and improving the policymaking process.

Preventing and Responding to the Crisis of 2018

Looking ahead, the big macroeconomic policy question for India is whether or not it should emphasise greater self-insurance with a necessarily more cautious approach to capital market integration. The serious adverse impact of the current crisis should awaken India to the need for effective self-insurance in the future. If self-insurance becomes an important policy objective, the government will need to revisit its macroeconomic policy, including exchange rate management and capital account convertibility. Self-insurance calls for countercyclical policy - dampening flows and keeping the currency competitive - so that reserves can be built up during good times.

The Credit Crisis: Where It Came From, What Happened, and How It Might End

Massive deregulation in the United States allowed non-banks to function like banks, exposing the institutional fragility particular to banking. This unprecedented scale of deregulation and the concomitant absence of systemic risk controls were facilitated by a radically lopsided political economy in the North. This was, in turn, held up by an extremely lopsided global division of labour. Export-surplus-fuelled liquidity and excessive deregulation combined to exacerbate the cyclical nature of banking systems that follow from the credit nature of money, leading to massive booms and searing busts. Layer upon unstable layer, these interacting dynamics have imperilled our world system and brought us to the brink. Each dynamic will now have to be rebalanced, a difficult political task.

Languages of Valuation

An economic crisis affords an opportunity to put the economy of the rich countries on a different trajectory as regards material and energy flows. Now is the time in those countries for a socio-ecological transition to lower levels of energy and materials use. The crisis might also give an opportunity for a restructuring of social institutions. The objective in rich countries should be to live well without the imperative of economic growth.

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