India’s Worsening Unemployment Crisis
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India’s Worsening Unemployment Crisis

Neeraj Jain   Soon after Modi-led BJP won the 2019 Lok Sabha elections, the government felt emboldened to release the Periodic Labour Force Survey (PLFS) data, that it had suppressed. The data show that absolute employment in the country has actually fallen during the years of Modi’s prime ministership – the first time it has…

Six Numbers the Modi Government Did Not Want You to Know in 2019
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Six Numbers the Modi Government Did Not Want You to Know in 2019

Jahnavi Sen   The Narendra Modi government wants to know all about us—where we and our parents were born, where we live, what we do, details of our family members, our mobile numbers and so on. For a country of more than 133 crore people, that is a massive (and massively expensive) exercise. But the…

The Crisis of Capital

The Crisis of Capital

John Bellamy Foster The following is a transcript of a talk delivered by Monthly Review editor John Bellamy Foster for the Econvergence Conference held in Portland, Oregon on October 2, 2009. It may be hard, but I want you to try to think back a decade, actually slightly less than a decade. In 2000, we…

What Every Environmentalist Needs to Know About Capitalism

What Every Environmentalist Needs to Know About Capitalism

Fred Magdoff and John Bellamy Foster For those concerned with the fate of the earth, the time has come to face facts: not simply the dire reality of climate change but also the pressing need for social-system change. The failure to arrive at a world climate agreement in Copenhagen in December 2009 was not simply…

Why Aggregate Employment in India Is Shrinking
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Why Aggregate Employment in India Is Shrinking

One of the major promises on which the 2014 elections were won was massive job creation. Even after its stunning victory in 2019, primarily fought on the national security plank, among the first things the new Narendra Modi government did was to set up a cabinet committee to create jobs. How successful has it been?…

What the Centre Needs to Do if it Wants to Tackle the Economic Slowdown
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What the Centre Needs to Do if it Wants to Tackle the Economic Slowdown

Only a few weeks ago, the central government was talking grandly about India reaching a $5-trillion economy and refusing to recognise the severe slowdown India is going through. (This is not such a grand ambition when compared with China, which is often portrayed as India’s competitor, because by 2025, China’s economy is expected to achieve…

Over 4 Crore Are Jobless Now, Much More Than Earlier
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Over 4 Crore Are Jobless Now, Much More Than Earlier

Finally, the government has released the suppressed report on unemployment, now that elections are done and dusted with. Meanwhile, joblessness has worsened dramatically with an estimated 4.17 crore people unemployed, according to another recent report of the CMIE (Centre for Monitoring Indian Economy), based on a similar sample survey. The government had directed the National…

Capitalism Has Failed—What Next?
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Capitalism Has Failed—What Next?

Less than two decades into the twenty-first century, it is evident that capitalism has failed as a social system. The world is mired in economic stagnation, financialisation, and the most extreme inequality in human history, accompanied by mass unemployment and underemployment, precariousness, poverty, hunger, wasted output and lives, and what at this point can only…

Capitalism Has Failed—What Next?

Capitalism Has Failed—What Next? Less than two decades into the twenty-first century, it is evident that capitalism has failed as a social system. The world is mired in economic stagnation, financialisation, and the most extreme inequality in human history, accompanied by mass unemployment and underemployment, precariousness, poverty, hunger, wasted output and lives, and what at…

108 Economists Slam Modi Govt For Tweaking Data

108 Economists Slam Modi Govt For Tweaking Data A group of 108 economists and social scientists have sounded a pre- election alarm over the Narendra Modi-led Bharatiya Janata Party government’s move to revise or withhold the release of unfavourable or “uncomfortable” economic data.   In an open letter, 108 economists and social scientists have said…