Tag: economics

Prem Sikka: Credit Suisse leaks expose an industry that has got away with too much for too long /Joseph Stiglitz: Credit Suisse has allowed the morally bankrupt to steal from the poor

How do the banks continue to get away with it? The latest revelations about Credit Suisse provide yet another glimpse into the corrosive nexus of banks, corporations, accountants, lawyers and financial intermediaries that enables the wealthy and political elites to profit from illicit practices. The bank itself is no stranger to predatory practices. Since 2001 it has… Read More Prem Sikka: Credit Suisse leaks expose an industry that has got away with too much for too long /Joseph Stiglitz: Credit Suisse has allowed the morally bankrupt to steal from the poor

Dilip

Chandran Nair: White privilege and global capitalism have roots in private property rights

It is rare and often uncomfortable to discuss the relationship between race and capitalism. Attributing certain economic systems to race relations and even discrimination are generally seen as reductive and even racist. Yet it is important to recognise that capitalism has a racial origin in the West – which knowingly placed white populations, and in… Read More Chandran Nair: White privilege and global capitalism have roots in private property rights

Dilip

Arun Kumar: Articles and discussions on Cryptos, Farmers, GDP and the unorganized, Omicron, Toxic Development and Demonetization 5 years later

Some links to select recent articles, discussions and interviews: Article explaining Cryptos and why they are not like cash. In the Wire on Dec 17 at: https://thewire.in/tech/shedding-a-bit-of-light-on-cryptos-what-are-they  Article explaining that Crypto Promoters are the Very Rich and the Libertarian argument for Cryptos is not correct. H W News on Dec 14  https://hwnews.in/business-finance/crypto-promoters-are-the-very-rich/176991  “Shadows of the Pandemic: What… Read More Arun Kumar: Articles and discussions on Cryptos, Farmers, GDP and the unorganized, Omicron, Toxic Development and Demonetization 5 years later

Dilip

Richest 1% Took 38% of New Global Wealth Since 1995. The Bottom Half Got Just 2% / India: extreme inequality in numbers

Jake Johnson/Common Dreams    In the nearly three decades since 1995, members of the global 1% have captured 38% of all new wealth while the poorest half of humanity has benefited from just 2%, a finding that spotlights the stark and worsening gulf between the very rich and everyone else. That’s according to the latest iteration of the World… Read More Richest 1% Took 38% of New Global Wealth Since 1995. The Bottom Half Got Just 2% / India: extreme inequality in numbers

Dilip

Jill Lepore: Is society coming apart?

Forging stronger bonds in a post-pandemic world… will require acts of moral imagination that are not part of any political ideology or mission statement, but are functions of the human condition: tenderness, compassion, longing, generosity, allegiance and affection. These are the only answers to loneliness, alienation, dislocation and disintegration. But the fullest expression of these functions…… Read More Jill Lepore: Is society coming apart?

Dilip

Neoliberalism wrecked our chance to fix the climate crisis – and leftwing statements of faith have changed nothing

Why didn’t we nip climate change in the bud? Nathaniel Rich poses that question in an important article for the New York Times Magazine in 2018 (later published as a book). He notes that, for a brief period in the late 1980s, a consensus developed on the necessity for action. Back then, no one considered the science controversial… Read More Neoliberalism wrecked our chance to fix the climate crisis – and leftwing statements of faith have changed nothing

Dilip

WHITNEY WEBB: Wall Street now monetizes nature

Last month,  the New York Stock Exchange (NYSE) announced it had developed a new asset class and accompanying listing vehicle meant “to preserve and restore the natural assets that ultimately underpin the ability for there to be life on Earth.” Called a natural asset company, or NAC, the vehicle will allow for the formation of specialized corporations “that hold… Read More WHITNEY WEBB: Wall Street now monetizes nature

Dilip

Climate crisis: economists ‘grossly undervalue young lives’

Many economic assessments of the climate crisis “grossly undervalue the lives of young people and future generations”, Prof Nicholas Stern warned on Tuesday, before the Cop26 climate summit in Glasgow. Economists have failed to take account of the “immense risks and potential loss of life” that could occur as a result of the climate crisis, he said,… Read More Climate crisis: economists ‘grossly undervalue young lives’

Dilip

Bharat Bhushan: Will economic stress and hunger lead to political change?

Even while the buzz is that the Indian economy is on the road to recovery, Agence France Presse (AFP) reports that many middle class Indian families are selling gold to stay afloat. Mumbai jewellers told AFP that a majority were women selling off their personal jewellery – gold bangles, rings, necklaces and earrings. One of them said,… Read More Bharat Bhushan: Will economic stress and hunger lead to political change?

Dilip

Bharat Bandh Today Live Updates: Highways, rail tracks blocked; strike successful, says Rakesh Tikait / Bharat Bhushan: Time for farmers' movement to launch a political party

Normal life was hit as farmers blocked highways and squatted on railway tracks at many places on the occasion of the Bharat Bandh called on Monday against the three contentious farm laws. The bandh began at 6 am and ended at 4 pm on Monday. BKU leader Rakesh Tikait said, “Our Bharat Bandh was successful. We had… Read More Bharat Bandh Today Live Updates: Highways, rail tracks blocked; strike successful, says Rakesh Tikait / Bharat Bhushan: Time for farmers' movement to launch a political party

Dilip