Well before the global financial crisis finally broke in September 2008, most people in developing countries were already reeling under the effects of dramatic volatility in global food and fuel markets. From late 2006, prices of most primary commodities first increased very rapidly, then collapsed even more sharply from their peaks in May-June 2008. This was not due to real economic forces, but rather financial activity, specifically the involvement of investors in index funds,writes Jayati Ghosh.
Professor Jayati Ghosh delves on the global food situation and need for ensuring real food security in the country today as part of the "Naren Sen Memorial Lecture" held in Kolkata on 8th November 2009. Below is the text of the lecture given.
In this article,published at MacroScan, Prof.Jayati Ghosh argues that the struggles over the core issue’ of ‘ land, livelihood, conditions of living and social equality’ need to be strengthened by the left forces to turn the electoral reversal into a stimulus for positive transformation and future growth of the left movement in India
Women are increasingly significant as national and international migrants, and it is now evident that the complex relationship between migration and human development operates in gender-differentiated ways. A report by Jayati Ghosh.
Coalition politics is both necessary and inevitable in India at the current juncture not only because of this diversity, but because of the very obvious failures and apparent of the two major parties. These parties have essentially chosen to follow neoliberal economic policies that have dramatically increased economic inequalities, caused widespread agrarian distress, and made material lives more fragile and insecure for most workers.The emergence of a viable third alternative in Indian politics is therefore a matter of historical inevitability. Economist and professor Jayati Ghosh writes exclusively for Pragoti on the need for the "third alternative".
The global financial and economic crisis has already taken a heavy toll on the Indian economy in the form of a balance of payments crisis. Writes Jayati Ghosh in Frontline
The fiscal changes announced by the UPA government suggest nothing more than obeisance to corporate lobbies and preferred interest groups. -Argues Jayati Ghosh in Frontline
"The intensity of this Asian crisis sends out a larger message. Neoliberalism had failed in Africa and Latin America but had earned a lease of life in Asia, where it was not imposed on but owned by many national governments. The first challenge to the regime came in 1997 when the financial crisis broke in some of the strongest economies in the region. But the forces advocating neoliberal ideology survived that challenge and intensified the process of liberalization and integration. The current crisis poses a second and stronger challenge because finance capital that advocates neoliberalism is seen as responsible for this crisis. It is to be seen whether the advocates of neoliberalism will overcome this challenge as well, or whether the ideology would be fundamentally discredited." writes C.P. Chandrasekhar and Jayati Ghosh.
Nothing in the policy pronouncements suggests that the welfare of cultivators and migrant workers is at all a consideration for the Central government,writes Jayati Ghosh.
“NREGS necessarily challenges the prevailing power structures, in some cases quite substantially. Therefore attempts to oppose or subvert the correct and full implementation of the scheme in rural areas are only to be expected. Nevertheless, the extent to which the scheme is being implemented with even partial success in many parts of the country, including some very backward pockets, is already a source of optimism.” Jayati Ghosh examines the NREGS experience in this paper presented at the International Conference on NREGA organized by the Ministry of Rural Development and ICAR. Online exclusively on Pragoti.