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Economy

From Andhra to Kashmir – The Return of the East India Companies

From Great Game India: At least two of the Big Four global corporate consultancies are reported to be directly involved in the big-ticket Kashmir Development Plan – Ernst & Young and PricewaterhouseCoopers. A pilot project was initiated in 2017 for the creation of a ‘Model Village’ in Kathua, Kashmir, based on a blueprint by PricewaterhouseCoopers

Thermodynamic Failure: Phase 2

“Most people aren’t paying attention. Most people have no idea what’s going on. Industrial civilization is already having serious health problems and heart palpitations. By 2020, industrial civilization’s going to suffer a massive stroke. By 2025, it will be in hospice. By 2030, it will be dead,” writes the anonymous author of Articulating The Future.

Arturo Escobar: Farewell to Development

Over the years, ‘development’ has undergone multiple modifications, such as sustainable development, participatory development, development with gender equity, integrated rural development, and so forth. All these approaches stay within the conventional understanding of development: they don’t constitute a radical departure from the prevailing paradigm. What we need to do is get rid of ‘development’ itself

The Nobel Prize for climate catastrophe

Jason Hickel writes: Many people were thrilled when they heard that the Economics Nobel went to William Nordhaus, known for his work on climate change. But many climate scientists and ecologists believe that the failure of the world’s governments to pursue aggressive climate action is in large part due to arguments that Nordhaus has advanced.

How India’s economists have failed its farmers

Devinder Sharma writes: If raising productivity is the major factor I see no reason why Punjab farmers should be committing suicide. But the fact that economists don’t want to acknowledge is that it is actually the low price that farmers being deliberately paid that is the primary reason for the terrible agrarian crisis that prevails.

Giants: The Global Power Elite

From Global Research: Fundamentally, this book is a call to action. Author Robert J. Burrowes uncovers the critical role played by the global power elite in creating our present predicament. If we cannot persuade the global power elite to respond sensibly to that predicament, or nonviolently compel it to do so, humanity’s time on Earth is indeed limited.

Herman Daly reviews ‘Collision Course: Endless Growth on a Finite Planet’

In this book, Kerryn Higgs traces the rise of economic growth to the status of the number one goal of nations, and how this pernicious idea prevailed over carefully reasoned counter-arguments through well-funded, carefully orchestrated propaganda. Its a kick in the head for those of us who believe in the persuasive power of reasoned argument.

Nafeez Ahmed: This is how UN scientists are preparing for capitalism’s demise

From The Independent: Capitalism as we know it is over. So suggests a new report commissioned by a group of scientists appointed by the UN secretary general. The main reason? We’re transitioning rapidly to a radically different global economy, due to our increasingly unsustainable exploitation of the planet’s environmental resources and the shift to less efficient energy sources.

Spotlight: Manifesto of Indian Farmers

This manifesto was adopted by an assembly representing the farmers of India on the occasion of the historic Kisan Mukti March organised by AIKS at Delhi, on 30 November 2018. Over the past 25 years, more than 3,00,000 of India’s debt-ridden farmers have committed suicide, a crisis which successive governments have done little to address.

The economics Nobel went to a guy who enabled climate change denial and delay

William Nordhaus’ low-ball estimates of the costs of climate change and high-ball estimates of the costs of containing the threat contributed to a lost decade in the fight against climate change, lending intellectual legitimacy to denial and delay. The IPCC report, released the day Nordhaus got his Nobel, heightens the award’s absurdity, writes Eugene Linden.

Why growth can’t be green

Jason Hickel, Foreign Policy: Many policymakers have responded to ecological breakdown by pushing for what has come to be called “green growth.” It sounds like an elegant solution to an otherwise catastrophic problem. There is just one hitch: New evidence suggests that green growth isn’t the panacea everyone hopes for. In fact, it’s not even possible.

Memo to The New York Times: How not to talk about climate change

From Jacobin Magazine: The New York Times’ blockbuster story on climate change concludes that democracy and human nature are to blame for the climate crisis. They’re wrong. You cannot tell the story of climate change without telling the story of twentieth-century capitalism. This isn’t just a missed opportunity or a partial story—it’s the wrong story.

Ecologies of scale: An interview with ecological economics guru Herman Daly

From The New Left Review: If fidelity to GDP growth amounts to the religion of the modern world, then Herman Daly surely counts as a leading heretic. Benjamin Kunkel interviews the preeminent figure in ecological economics, and the author of perhaps the most fundamental and eloquently logical case against endless economic growth that’s yet produced.

Economy of Permanence: The enduring legacy of J.C. Kumarappa

J.C. Kumarappa was a stalwart of India’s freedom movement, Gandhian economic philosopher, pioneer in the development of village and cottage industries and advocate of a decentralised, localised economy of permanence and freedom. Yet, he remains practically unknown to the present generation of Indians. A tribute to Kumarappa by Pranjali Bandhu, editor of his collected writings.

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