The current economic crisis that capitalism is faced with is of far greater magnitude than was envisaged even a few months back precisely because of the extent to which the machinations of the globalized finance capital has spread across the world. This is the time to categorically reject the ‘there is no alternative’ (TINA) paradigm of the neo-liberalism and reassert alternative policy prescriptions which would be beneficial to our own people.
Rohit writes in the introduction to a booklet on the current financial crisis to be published by the Students Federation of India.
Sitaram Yechury speaks on the Global Financial Crisis and its impact on the Information Technology sector.
Report on Symposium: What Can We Learn From the Global Financial Crisis?
A symposium on “What Can We Learn From the Global Financial Crisis?” was organized in New Delhi on 17th November 2008 by Anveshan, Delhi Science Forum and the Economic Research Foundation. The Speaker Hall of the Constitution Club, which was the venue for the symposium, was filled to more than capacity. People from all walks of life including a large number of university students attended the programme.
“There is no Alternative but Socialism”: Samir Amin
[Prof. Samir Amin, eminent Marxist scholar and Director, Third World Network was in New Delhi on 17th November 2008, to address a Symposium on the Global Economic Crisis. He spoke about the current crisis and the way forward for the progressive forces, to Prasenjit Bose and Senthil Babu from the CPI (M)]. Interview courtesy India News Network.
The U.S. auto giants are an example of how things work in the age of unbridled corporate power. Of how the collapse of restraint on that power fractures economy and society. P.Sainath writes in The Hindu.
Current economic problems in the Indian economy are being presented by the Government as created entirely by the direct and indirect effects of the global financial crisis. Even the industrial slowdown is being blamed on the adverse impact of the global slowdown upon manufacturing exports. But, as C. P. Chandrasekhar and Jayati Ghosh show in this edition of Macroscan (published in The Hindu Business Line), the official data suggest that the industrial slowdown started well before the effects of the external crisis began to be felt in India.
Pragoti editorial team's Subhanil Chowdhury delves into the cause of the layoffs in the Indian economy amidst the slowdown and argues for public expenditure and investment that will put purchasing power in the hands of the people as the way out. An earlier article on the same issue by the author can be found here .
Two Real News Network videos on the Lame Duck G20 Meeting on the Global Financial Crisis, featuring experts such as Leo Panitch, Doug Henwood and others.
True, the daily miseries encountered by millions and millions of the poor in the country are indescribably grim. And yet, how does one ignore the reality currently unfolding in the stockyard of our stock markets, with scores of families getting ruined, persons engaged in stock-broking firms all of a sudden losing their jobs, a few desperate ones, who have seen their assets disappear in the course of a week’s hurricane, choosing to commit suicide? A sullen anger, mixed with a sense of fright on account of not knowing what is in store tomorrow, hangs in the air. In a large number of cases, those rendered paupers by the share-market devastation were more sinned against than sinning: they were led up the garden path and soon lost their bearing, prudence got juxtaposed with temptation; once they crossed the threshold, they did not know what had hit them. Writes Ashok Mitra in The Telegraph
Bush brings the G-20 to Washington; but world leaders would rather talk to Obama, A real News network featuring Pepe Escobar comments. Escobar interviews Mark Weisbrot, co-director of the Center of Economic and Policy Research based in Washington D.C. for this commentary.