Scarcity and Socialism

Life means reproduction and survival up to the age of reproduction. That survival requires energy that we receive by consuming various goods. There are two types of these goods. One that we use directly to satisfy our needs and second that indirectly satisfies our needs. The first one is called consumer goods and the second […]

If Not Modi then Who?

The Indian Parliamentary election for the next five years is on. The present Indian prime minister Narendra Modi is battling hard for his reelection. All opposition parties are united against his government to combat the kind of polarization that Modi and Shah (BJP national president) are spreading in India with the support of their ideological […]

Book Review – Kashmir in Conflict : India, Pakistan and the Unending War

After the Pulwama attack on CRPF convoy, which killed 44 soldiers, on 14th February and the following mini war between the arch foes Pakistan and India, the conflict of Kashmir is again in the focus in India as well as internationally. Reports are now coming out that during the tension Indian and Pakistani governments were […]

Congress’s NYAY (Justice) or ANYAY (Injustice)?

The main opposition party of India, Indian National Congress, has announced a new scheme, NYAY (Nyuntam Aay Yojana), as a political promise to the poor people of India. According to the announcement from the Congress party president Rahul Gandhi, this minimum income guarantee scheme will assure a payment of Rs. 72,000 a year for India’s […]

Is Capitalism ‘Under Serious Threat’?

The former governor of RBI and the chief economist of IMF Dr. Raghuram Rajan recently told BBC that, I think capitalism is under serious threat because it’s stopped providing for the many, and when that happens, the many revolt against capitalism. He said governments cannot afford to ignore social inequality when considering the economy. Is […]

War is the Health of the State

The American journalist Randolph Bourne in his famous essay, The State, said, The moment war is declared, however, the mass of the people, through some spiritual alchemy, become convinced that they have willed and executed the deed themselves. They then, with the exception of a few malcontents, proceed to allow themselves to be regimented, coerced, […]

Unemployment in India

A recent news headline said, As many as 7,000 persons, mostly graduates, had applied for 13 vacant posts of canteen waiters in Mantralaya, the Maharashtra secretariat. Another said, As Narendra Modi government and opposition fight over ‘jobs crisis’ in India, another surprising news has come from Uttar Pradesh where over 93,000 candidates including Phd holders, […]

13 Economists and their Economic Strategy for India

Former governor of RBI Dr. Raghuram Rajan and MIT professor Dr. Abhijeet Banerjee have written an article, viz. Eight things India must do in 2019, in Times of India on 1st January, 2019[i] in which they present a list of eight things which according to them India, government and people collectively, must do in new […]

Modi’s Universal Basic Income Gambit

According to the MSN news, the Modi government is preparing to introduce a universal basic income (UBI) scheme before next year’s general election. The government will transfer a certain amount into the bank accounts of citizens who are unable to earn an income. The Centre has been facing a relentless Opposition onslaught over a slew […]

J B. Say and Today’s Fiat Paper Money Standard

What is money? What are the qualities of money? Is the note of rupee, that you hold in your hand daily, money? What is wrong with today’s fiat paper monetary system which is in the root of our problems of inflation, business cycles, government’s reckless spending and ballooning fiscal deficits, central bankers’ enabled nation state […]