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

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The Capital–Labour Rupture and the World Order

More than the rise of China, it is cyber-capitalism that is the driving force of the current changes in the global political economy. Emboldened by new age technologies, the capital is now breaking itself free from labour. Its efforts are being supported by the right-wing conservatives who are...

Brexit is Not Just about Exiting the European Union: A Reading List

The United Kingdom’s withdrawal from the European Union is indicative of not only its own narrow self-perception but also of the rise of an anti-immigration and racist stance put forth by right-wing groups. */ */

The Future of Globalisation

An analysis of globalisation in a historical perspective can help us understand how the past or the present may shape the future. In so doing, this article outlines the contours of the present era of globalisation since its inception, circa 1975, to find that the successive epochs of globalisation during the second millennium came to an abrupt end because of their own consequences embedded in the process. Given this, the article seeks to focus on the present conjuncture, at the intersection of economics and politics, when globalisation is again in crisis to reflect on its future.

How Globalisation Has Diluted Workers’ Rights

This reading list looks at how globalisation has changed the relations of production.

The Potential of Participation in Global Value Chains

Low demand, high trade costs, poor infrastructure, unstable law and order and the lackadaisical nature of government impede the economic growth of the North Eastern Region. This prolonged underdevelopment points to the urgent need of the NER to integrate with the global economy for faster economic growth. Such an integration and subsequent economic transformation can be made possible through participation in global value chains. The NER has comparative trade advantage in producing labour-intensive products, and participation in services-based GVCs, particularly tourism, can be very profitable for the NER.

Anti-Trafficking Bill 2018 Fails to Address Changing Forms of Labour Exploitation

The recently passed Trafficking of Persons (Prevention, Protection and Rehabilitation) Bill, 2018 is woefully unaware of the present context of globalisation and the changing forms of labour dispossession and exploitation.

Problems of Market Economy

Economic Challenges for the Contemporary World: Essays in Honour of Prabhat Patnaik edited by Mausumi Das, Sabyasachi Kar and Nandan Nawn, New Delhi: Sage, 2016; pp 324+xvii, ₹1,195.

National Policy on Education 2016

Any contemporary education policy will need to address the democratic and economic aspirations of the younger citizenry and must declare those concrete steps that would endure the realisation of those aims. But that has not been the case with the National Policy on Education 2016. The new education policy, as proposed, chooses not to address the fundamental issues plaguing the education system but instead, it propagates a corporate, neo-liberal, neo-cultural, a Sanskritised, global and market-oriented education system which is governed by a wholly separate and centralised bureaucracy, where state government power and oversight is minimal.

Liberal Approach to Inequality

​ The Globalisation of Inequality by Francois Bourguignon, New Jersey: Princeton University Press, 2015; pp 210, $27.95.

Vulnerability of Emerging Market Economies to Exogenous Shocks

The transmission of global demand, oil supply and monetary policy shocks on the Indian economy are empirically examined using a parsimonious structural vector autoregression model for the period 1996 to 2016. Global demand shocks exert the most dominant effect causing fluctuations in various macroeconomic variables, whereas global monetary policy spillovers play an important role in affecting domestic short-term interest rates and financial asset prices. Global oil supply shocks, given its relative weightage as an intermediate input, have a greater impact on wholesale price index inflation than on consumer price index inflation. Given the rising trade and financial integration of the Indian economy, a quantitative impact analysis of these global shocks assumes importance for macroeconomic and monetary policy frameworks.

Globalisation as a Messy Whole

Spectacular Cities: Religion, Landscape and the Dialectics of Globalisation by Ipsita Chatterjee; New Delhi: Oxford University Press, 2016; pp xvi +194, ₹ 795.

What Next for Globalisation?

Globalisation has lost legitimacy in its homelands. The emerging economies of Asia need to carry extra weight in favour of global prosperity and away from xenophobia and autarky.

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