The role of future trading in commodity markets has often been a subject of controversies in India, between those who look at future markets as a guiding force for price discovery, risk sharing and market efficiency and others who contest such claims, maintaining that future trade has been responsible for speculation-led price increases, especially as at present. Prof. Sunanda Sen, formerly senior professor at the Centre for Economic Studies and Planning (CESP), Jawaharlal Nehru University, writes.
Curbs on speculatory finance and an aggressive expansionary fiscal policy are the answers to what has gone wrong in the world today,writes Sunanda Sen.