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

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IMF's Autocritique of Neo-liberalism?

In a recent article published in Finance and Development, an International Monetary Fund magazine, three economists have critically evaluated the policies the IMF promotes. They acknowledge evidence that suggests that economic growth under neo-liberalism is difficult to sustain, that it leads to an increase in inequality, and that continuing inequality is harmful for sustainable (or continuing) growth.

Contemporary Macroeconomic Analysis

Looking Back at Macroeconomics 101: A Ringside View of the Global Financial Crisis from Asia in Real Time by Alok Sheel; Academic Foundation, 2015; pp 422, ₹1,295.

Beyond Workers and Peasants

Class in Contemporary China by David S G Goodman; New York: Wiley, 2014; pp xvii+233, £15.99

Demystifying Delusion and Unveiling the Crypt

The Indian Economy in Transition: Globalization, Capitalism and Development by Anjan Chakraborty, Anup Dhar and Byasdeb Dasgupta; New Delhi: Cambridge University Press, 2016; pp xx + 422, price not indicated.

Reclaiming Nature and the Planet for All

Living Pathways: Meditations on Sustainable Cultures and Cosmologies in Asia by M Nadarajah; Penang: Areca Books, 2013; pp 184, price unstated.

When Capital Masquerades as Football

Football might be touted as the social unifier by the dominant powers, but in reality it is the site of the most violent social divisions and ensuing protest movements. To cede spaces of football to the forces of capital will be to let go of these very forces of struggle. 

The Idea of Happiness

The idea of happiness has changed. It has emerged as a measurable, autonomous, manageable, psychological variable in the global middle-class culture. The self-conscious, determined search for happiness has gradually transformed the idea of happiness from a mental state to an objectified quality of life that can be attained the way an athlete after training under specialists and going through a strict regimen of exercises and diet wins a medal in a track meet. Might it be that the sense of well-being of a mentally healthy person shows its robustness by being able to live with some amount of unhappiness and what is commonly seen as ill-health?

Correcting Popular Misconceptions of Marx

Why Marx Was Right by Terry Eagleton (New Haven and London: Yale University Press), 2011; pp ix+258.

Understanding Capitalism through Lohia

Extending Lohia to our times, we can infer an important truth about capitalism. Capitalist development cannot take place without colonial or neocolonial exploitation. In the absence of external colonies or neocolonies, capitalism tries to create internal colonies, but they are not enough for full-fledged modern industrial development, which requires both exploitation of labour and the plunder and destruction of natural resources on a global scale. If internal colonial exploitation is fundamental to capitalism and unequal exchange in various forms is one of its important mechanisms, the Third World can be liberated only when it breaks away from the present system of international trade, exchange and finance and looks at ways of building an alternative society in all senses.

Sports for a Few

The competitive frenzy for winning in sports has been fuelled by aggressive marketing. Together they ensure that while a minority is trained with superlative sports facilities, the majority is deprived of even basic amenities to play and breathe fresh air. In India, market forces have pampered cricket while harming all other games in the process.

Calcutta Diary

Since the thirties of the last century, India has witnessed a good few instances of intense sincere efforts of some somebodies to disown or step out of their bourgeois class allegiance and rush towards the proletarian heaven. It is a long and impressive list. Mohit Sen, who was felled by a massive cardiac seizure in the first week of May, was a partisan belonging to this series of ideologues who wanted to be nondescript non-kings.

Monitoring Success

Financial disasters have become common round the world. Their nature has been complex and varied, but the strong common link is that they have all underscored the importance of regulatory supervision of financial deals. This essay traces an even more fundamental relationship among apparently dispersed and unrelated problems. This has to do with the lack of monitoring of any system which performs well.

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