The current crisis marks the end of an era of credit expansion based on the dollar as the international reserve currency. The periodic crises were part of a larger boom-bust process. The current crisis is the culmination of a super-boom that has lasted for more than 60 years.
By Martin Wolf
The growing hiatus between the `shining’ and the `suffering’ India is manifesting itself in a myriad ways.But,while a section gloats over the 20K sensex, the consequences are resulting in India’s real trade earnings decline appreciably and, consequently, in the destruction of livelihood of lakhs of our people. An article published in Hindustan Times on November 24.
What has been happening in the Indian share market for the last few weeks is unheard of. Between September 18, 2007 and October 16, 2007, compared to other major world share price indices, the Indian bourses have clocked a breakneck 21.59 per cent growth outstripping all other markets. To give a sense of the comparison, the most often referred NASDAQ grew by 4.23 per cent and Dow Jones a mere 0.35 per cent during the same period.But is that the true picture?
An enviable problem to have - From the Economist Intelligence Unit ViewsWire
New Delhi, July 20 (PTI) Seasoned diplomat and academician Mohd Hamid Ansari was today unanimously chosen as UPA-Left candidate for the post of Vice President.
The formation of the Left Front Government in West Bengal was a culmination of decades of struggles by various sections of the people — workers, peasants, teachers, refugees and students — under the leadership of the Left, and its biggest component the CPI (M).
This is an article by PRASENJIT BOSE. Historical Outline
Indian Economy in the era of contemporary Globalisation: Some Core Elements of the Balance Sheet
Paul Krugman writes on the recession looming large on USA