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Globalisation

Globalisation

Backgrounders

India globalised, Bharat cauterised

By Aseem Shrivastava

Globalisation

"Globalisation is really the best way to lift millions of people out of poverty because it increases trade; it increases job creation. It's a positive force." -Nandan Nilekani, CEO Infosys, Interview with San Francisco Chronicle, July 4, 2004.

"Globalisation creates growth by destruction of the environment and of local livelihoods. It therefore creates poverty instead of removing it. The new globalisation policies have accelerated and expanded environmental destruction and displaced millions of people from their homes and their sustenance base."-- Vandana Shiva, Scientist and environmental expert. Resurgence, June 1997

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Related Articles

»(An)globalisation: The last hurrah of capitalism? By Aseem Shrivastava
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»How does capitalism work? By Aseem Shrivastava
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»Has the 'free market' ideology been the route to prosperity in the Western world? By Aseem Shrivastava
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Analysis

The end of the 'free market' reign?

By Aseem Shrivastava

financial system are at risk of shutting down

With repeated government bailouts of profit-seeking, loss-avoiding financial companies in USA, the very heartland of global capitalism, we have arrived at the end of an era of unquestioned faith in the magic of free markets, says economist Aseem Shrivastava.

"Our entire economy is in danger…The market is not functioning properly. There has been a widespread loss of confidence, and major sectors of the country's financial system are at risk of shutting down. The government's top economic experts warn that, without immediate action by Congress, America could slip into a financial panic."
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Related Articles

»Financial crisis and India's misplaced optimism  By Suchita Vemuri
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»Spreading the wealth By Aseem Shrivastava.
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»Debating the ideology of globalisation By Rahul Varman and Manali Chakrabarti
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Books & Reports

Why inequality is rising

By Sharmila Joshi

inequality in emerging economies

That inequality is rising in India is not surprising, considering that the centre offers Rs 4.6 lakh crore in tax exemptions and incentives to industrialists, compared to Rs 1.54 lakh crore in subsidies to the poor and farmers. But the solutions a new OECD report offers will increase, not reduce, inequality, says Sharmila Joshi

A recent report by the OECD recognises that income inequality is growing in India. While the economy was “expanding strongly”, the report says, “the distribution of income became increasingly concentrated…[and the] highest increases in real household income were systematically observed in the top quintile.”

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Rethinking Development

The planet - and we - are in peril

By Aseem Shrivastava

planet earth

In his victory speech President Obama spoke of a planet in peril. In doing so he fell prey to the cognitive lapse that pits us against the environment, rather than part of it, and miscommunicates the nature of the ecological threat as just another problem to be fixed with more technology, says Aseem Shrivastava

Underlying the global ecological crisis are the entrenched material interests of investor elites, powerful classes and nations the world over. They are driven by the seemingly inexorable forces of competitive economic growth.

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Related Articles

»Sharing the pie By Aseem Shrivastava
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»The long transition to renewable energy By Aseem Shrivastava
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»Small is bountiful By Aseem Shrivastava
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News Scan

Financial crisis could affect international aid and MDGs: UNCTAD

Going by past experience, the financial crisis could mean cuts in developmental aid budgets by 30% or more, says a policy paper from UNCTAD

One of the far-reaching consequences of the global financial crisis could be a cut in official development assistance (ODA) flows to developing countries.

In a policy brief, the UN Conference on Trade and Development (UNCTAD) has said that the financial crisis will deal a hard blow to ODA flows and this, in turn, will set back programmes for achieving the Millennium Development Goals by 2015.

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Related Articles

»'Made in USA' crisis now affecting developing countries: Stiglitz
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»Global economy set to shrink, India loses half-a-million jobs  
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»UN economic report calls for deep reforms in global financial system
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Financial crisis and India's misplaced optimism

The prime minister and finance minister have reiterated that India’s economy will continue to grow at 7-8%. Suchita Vemuri analyses the consequences of this misplaced optimism

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Spreading the wealth

By shifting the distribution of income and wealth in their own favour, the world's elites have dug their own economic graves, says Aseem Shrivastava. The way out of the present crisis is the old Keynesian one of stimulating demand in the economy. A massive redistribution of income and wealth towards the poor is called for. And only governments can do this

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Debating the ideology of globalisation

Baffled by the refusal of their IIT students – and indeed most middle class people -- to see the flip side of globalisation, Rahul Varman and Manali Chakrabarti engaged the students in a semester-long debate on globalisation. The interaction provided useful insights into how dominant ideologies are shaped

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The end of the 'free market' reign?

With repeated government bailouts of profit-seeking, loss-avoiding financial companies in USA, the very heartland of global capitalism, we have arrived at the end of an era of unquestioned faith in the magic of free markets, says economist Aseem Shrivastava

Read more...

Towards the Solidarity Economy

It is important for the corporate sector to move beyond the PR rhetoric of ‘corporate social responsibility’ to ‘corporate accountability’, says John Samuel, laying out the principles of the solidarity economy -- an alternative to the free-market economy -- where ethics of production, markets, investment and consumption is central to promoting sustainability

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G8 Hokkaido: An exercise in escapism

The G8 summit concluded with more empty rhetoric on the global fuel, food and climate crisis. The answer might lie in reforming the multilateral United Nations process rather than furthering the quasi-global governance posturing of G8 leaders, says John Samuel

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Can the oil crisis usher in a New Deal for the world?

We could be on the threshold of a new phase of globalisation, one where there will be a new protectionism, more regional trade and regional economic activism and where governments will be forced to address the problems of the vulnerable middle class and poor, argues John Samuel

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Poised for stagflation

Ideas, knowledge, art and travel are things which should be international, but let goods be homespun whenever possible, said John Keynes in 1933. Are we realising the wisdom of Keynes' statement now, with India facing rising inflation with economic slowdown? Is this the result of the blanket opening up of the Indian economy? Are there lessons to be learnt about the benefits of a more selective opening up, asks economist Aseem Shrivastava

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Localisation is about bringing the economy back to a human scale

By Naveen Vasudevan

Helena Norberg Hodge has documented the effect of globalisation and conventional development on Ladakh over 30 years and come to the conclusion that there is a middle ground between staying in the past and embracing globalisation to the total annihilation of the local culture

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India-Africa Summit: Use and Abuse of Africa in India

The task of mainstreaming Africa in India presents both a risk and a challenge, says Mukul Sharma

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Why inequality is rising

That inequality is rising in India is not surprising, considering that the centre offers Rs 4.6 lakh crore in tax exemptions and incentives to industrialists, compared to Rs 1.54 lakh crore in subsidies to the poor and farmers. But the solutions a new OECD report offers will increase, not reduce, inequality, says Sharmila Joshi

Read more...

Sharing the pie

Policymakers say that the size of the pie in developing countries has to be enlarged before it can be distributed more equitably. But the way a country’s economy grows will determine whether there is anything left to distribute at the end of the growth process, says Aseem Shrivastava

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The planet - and we - are in peril

In his victory speech President Obama spoke of a planet in peril. In doing so he fell prey to the cognitive lapse that pits us against the environment, rather than part of it, and miscommunicates the nature of the ecological threat as just another problem to be fixed with more technology, says Aseem Shrivastava

Read more...

The long transition to renewable energy

By Aseem Shrivastava

Greenpeace states that the share of renewable forms of energy in India must be mandated to increase from 4% presently to 20% by 2020 and 65% by 2050. China is one of the first countries, certainly in the developing world, to have passed and implemented a strong renewable energy law. Why can’t we?

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Small is bountiful

By Aseem Shrivastava

In China, jobs in modern industry declined by 20 million since 1990. But employment in light industries in the countryside increased by 30 million. Is it possible to think of a model of light industrialisation for India?

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Is there an alternative to development under globalisation?

The alternative to development under corporate globalisation is a political one, says Aseem Shrivastava. It involves the evolution of a participatory ecological democracy where key economic and social decisions are taken out of the hands of bureaucracies and giant corporations

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Who is development for?

Most of our politicians have taken ‘development’ as one of their key planks for campaigning. But how many of them have seriously challenged the structurally exclusive pattern of growth we have been seeing in India, asks Aseem Shrivastava in the first of a new column titled ‘Rethinking development’

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Financial crisis could affect international aid and MDGs: UNCTAD

Going by past experience, the financial crisis could mean cuts in developmental aid budgets by 30% or more, says a policy paper from UNCTAD

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'Made in USA' crisis now affecting developing countries: Stiglitz

The global financial crisis that started in the US has impacted countries all over the world, including developing nations that have good financial market regulations in place, says Nobel Laureate Joseph Stiglitz

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Global economy set to shrink, India loses half-a-million jobs

The automobile, gems and jewellery and textiles sectors have shed half-a-million jobs in India, with more pain on the way as the world economy shrinks further, says a new World Bank report

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UN economic report calls for deep reforms in global financial system

Among the reforms the report suggests are stronger regulation of financial institutions, an overhaul of the international reserve system, adequate international liquidity provisioning and more inclusive global economic governance to prevent a recurrence of the current economic crisis

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