Naomi Klein

By Annavajhula J.C. Bose, PhD, Department of Economics, SRCC. Although not greatly educated- formally- and having not even completed her degree in the philosophy and literature studies at the University of Toronto, Naomi Klein has become famous as a critical thinker and social activist in the last two decades. Her resounding analyses and inter alia [...]

Indian Village Life

By Annavajhula J.C. Bose, PhD, Department of Economics, SRCC Doing agricultural economics without knowing the literature of rural life is like vainly pretending to  be in communion with the cycles of the natural world without having an iota of intimacy with the rawness of agricultural life. We the cityfied urban people talk about the villagers [...]

Contextualizing Ivory-Tower Theories

By Annavajhula J.C. Bose, PhD Department of Economics, SRCC Making sense of disparate, context-free theories can be confusing. For example, Akerlof (1982) tells you elegantly that giving a worker a fair deal in terms of a longish and stable employment contract brings out good performance. By contrast, Shapiro and Stiglitz (1984) also elegantly tell you [...]

The U.S. Economy Excels at One Thing: Producing Massive Inequality

Article by Richard D. Wolff "Deepening U.S. inequality flows directly from this capitalist organization of production—its class system." To grasp the sheer magnitude of U.S. economic inequality in recent years, consider its two major stock market indices: the Standard and Poor (S&P) 500 and Nasdaq. Over the last 10 years, the values of shares listed on [...]

The Centers of Global Capitalism Are Migrating Away From the U.S., Europe and Japan

Article by Richard D. WolffThe blunt truth of modern economic development is this: capitalism is leaving its old centers and relocating to its new centers. About this leaving we can and should borrow the phrase: this changes everything. Modern capitalism began in England in the 17th century and spread eventually throughout the world. Its particular [...]

Steve Keen’s Anti-Economics

By Annavajhula J.C. Bose, PhD Department of Economics, SRCC The Australian and Post-Keynesian Steve Keen is not a Mr. Nice Guy for the conventional or  neoclassical economists. In fact, he has been the death knell of  their economic religion since long, especially since 2000. As he emphatically says, “the most dangerous people on the planet [...]

Encircling the Encircled

By Dr. Amit Bhaduri, former Professor Emeritus, Jawaharlal Nehru University Our prime minister is an honourable man. He does what he says, only at times people don’t understand. He keeps his promise. He had promised to eliminate black money from the Indian economy. He kept his promise with a blitzkrieg called ‘demonetization’, and big business [...]

Spiritual Economics

By Annavajhula J.C. Bose, PhD Department of Economics, SRCC If you hail from a Hindu cultural background, you can extract spiritual economics from the Bhagavad Gita and Srimad Bhagavatam. And if you are a Christian, you can do so from the Bible. It seems all scriptures point to spiritual economics based on promoting a consciousness [...]

South American Alternative to Western Development

By Annavajhula J.C. Bose, PhD Department of Economics, SRCC The indigenous traditions and knowledge in South America, like Buddhism of Bhutan in South Asia, point to a credible alternative to Western development, focused on the good life or well-being in the broadest sense. The classical Western idea of development (industrialization) has become a zombie concept, [...]