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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2c94f03d7d-trace').style.display = (document.getElementById('cakeErr67f2c94f03d7d-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f2c94f03d7d-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2c94f03d7d-code').style.display = (document.getElementById('cakeErr67f2c94f03d7d-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2c94f03d7d-context').style.display = (document.getElementById('cakeErr67f2c94f03d7d-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f2c94f03d7d-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
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<span class="code-highlight"><code><span style="color: #000000"> <link rel="canonical" href="<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">Configure</span><span style="color: #007700">::</span><span style="color: #0000BB">read</span><span style="color: #007700">(</span><span style="color: #DD0000">'SITE_URL'</span><span style="color: #007700">); </span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$urlPrefix</span><span style="color: #007700">;</span><span style="color: #0000BB">?><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">category</span><span style="color: #007700">-></span><span style="color: #0000BB">slug</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>/<span style="color: #0000BB"><?php </span><span style="color: #007700">echo </span><span style="color: #0000BB">$article_current</span><span style="color: #007700">-></span><span style="color: #0000BB">seo_url</span><span style="color: #007700">; </span><span style="color: #0000BB">?></span>.html"/>
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<strong>Vicious cycle -Prabhat Patnaik</strong></h1>
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<p style="text-align:justify">-The Telegraph</p><p style="text-align:justify"><em>A system without any steering control</em></p><p style="text-align:justify">An essential characteristic of modern capitalism is that the living conditions of millions of people are determined by the whims and caprices of a handful of financial speculators; indeed, that is what ‘leaving things to the market’ really entails. Consider what is happening in India today. There is a massive outflow of finance from the country because of which the rupee is depreciating vis-à-vis the dollar. It has already fallen by more than 10% since February even though the Reserve Bank of India has spent over $100 billion, almost a sixth of the country’s foreign exchange reserves, to prevent such a fall, and even though it has been raising the interest rate almost in tandem with the rise in the United States of America to discourage such an outflow.</p><p style="text-align:justify">The depreciation of the rupee is exacerbating the inflationary process by raising the cost of imported goods, including essential goods like oil; inflation, in turn, is creating expectations of a further depreciation of the exchange rate that become self-fulfilling: they encourage a further outflow of finance and cause a further depreciation of the rupee. So the spiral of depreciation-inflation-depreciation goes on, fed by the rush of speculators away from the rupee.</p><p style="text-align:justify">Please <a href="https://www.telegraphindia.com/opinion/vicious-cycle-a-system-without-any-steering-control/cid/1897051" title="https://www.telegraphindia.com/opinion/vicious-cycle-a-system-without-any-steering-control/cid/1897051">click here</a> to read more. </p> </font>
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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2c94f03d7d-trace').style.display = (document.getElementById('cakeErr67f2c94f03d7d-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f2c94f03d7d-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2c94f03d7d-code').style.display = (document.getElementById('cakeErr67f2c94f03d7d-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2c94f03d7d-context').style.display = (document.getElementById('cakeErr67f2c94f03d7d-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f2c94f03d7d-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
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<p style="text-align:justify">An essential characteristic of modern capitalism is that the living conditions of millions of people are determined by the whims and caprices of a handful of financial speculators; indeed, that is what &lsquo;leaving things to the market&rsquo; really entails. Consider what is happening in India today. There is a massive outflow of finance from the country because of which the rupee is depreciating &nbsp;vis-&agrave;-vis the dollar. It has already fallen by more than 10% since February even though the Reserve Bank of India has spent over $100 billion, almost a sixth of the country&rsquo;s foreign exchange reserves, to prevent such a fall, and even though it has been raising the interest rate almost in tandem with the rise in the United States of America to discourage such an outflow.</p>
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<p style="text-align:justify">Please <a href="https://www.telegraphindia.com/opinion/vicious-cycle-a-system-without-any-steering-control/cid/1897051">click here</a> to read more.&nbsp;</p>
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<p style="text-align:justify">Please <a href="https://www.telegraphindia.com/opinion/vicious-cycle-a-system-without-any-steering-control/cid/1897051">click here</a> to read more.&nbsp;</p>
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<strong>Vicious cycle -Prabhat Patnaik</strong></h1>
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<p style="text-align:justify">-The Telegraph</p><p style="text-align:justify"><em>A system without any steering control</em></p><p style="text-align:justify">An essential characteristic of modern capitalism is that the living conditions of millions of people are determined by the whims and caprices of a handful of financial speculators; indeed, that is what ‘leaving things to the market’ really entails. Consider what is happening in India today. There is a massive outflow of finance from the country because of which the rupee is depreciating vis-à-vis the dollar. It has already fallen by more than 10% since February even though the Reserve Bank of India has spent over $100 billion, almost a sixth of the country’s foreign exchange reserves, to prevent such a fall, and even though it has been raising the interest rate almost in tandem with the rise in the United States of America to discourage such an outflow.</p><p style="text-align:justify">The depreciation of the rupee is exacerbating the inflationary process by raising the cost of imported goods, including essential goods like oil; inflation, in turn, is creating expectations of a further depreciation of the exchange rate that become self-fulfilling: they encourage a further outflow of finance and cause a further depreciation of the rupee. So the spiral of depreciation-inflation-depreciation goes on, fed by the rush of speculators away from the rupee.</p><p style="text-align:justify">Please <a href="https://www.telegraphindia.com/opinion/vicious-cycle-a-system-without-any-steering-control/cid/1897051" title="https://www.telegraphindia.com/opinion/vicious-cycle-a-system-without-any-steering-control/cid/1897051">click here</a> to read more. </p> </font>
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<link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2c94f03d7d-trace').style.display = (document.getElementById('cakeErr67f2c94f03d7d-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr67f2c94f03d7d-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2c94f03d7d-code').style.display = (document.getElementById('cakeErr67f2c94f03d7d-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr67f2c94f03d7d-context').style.display = (document.getElementById('cakeErr67f2c94f03d7d-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr67f2c94f03d7d-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700"><</span><span style="color: #0000BB">head</span><span style="color: #007700">>
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</span></span></code></pre><pre id="cakeErr67f2c94f03d7d-context" class="cake-context" style="display: none;">$viewFile = '/home/brlfuser/public_html/src/Template/Layout/printlayout.ctp'
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<p style="text-align:justify"><em>A system without any steering control</em></p>
<p style="text-align:justify">An essential characteristic of modern capitalism is that the living conditions of millions of people are determined by the whims and caprices of a handful of financial speculators; indeed, that is what &lsquo;leaving things to the market&rsquo; really entails. Consider what is happening in India today. There is a massive outflow of finance from the country because of which the rupee is depreciating &nbsp;vis-&agrave;-vis the dollar. It has already fallen by more than 10% since February even though the Reserve Bank of India has spent over $100 billion, almost a sixth of the country&rsquo;s foreign exchange reserves, to prevent such a fall, and even though it has been raising the interest rate almost in tandem with the rise in the United States of America to discourage such an outflow.</p>
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<p style="text-align:justify">Please <a href="https://www.telegraphindia.com/opinion/vicious-cycle-a-system-without-any-steering-control/cid/1897051">click here</a> to read more.&nbsp;</p>
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<strong>Vicious cycle -Prabhat Patnaik</strong></h1>
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<p style="text-align:justify">-The Telegraph</p><p style="text-align:justify"><em>A system without any steering control</em></p><p style="text-align:justify">An essential characteristic of modern capitalism is that the living conditions of millions of people are determined by the whims and caprices of a handful of financial speculators; indeed, that is what ‘leaving things to the market’ really entails. Consider what is happening in India today. There is a massive outflow of finance from the country because of which the rupee is depreciating vis-à-vis the dollar. It has already fallen by more than 10% since February even though the Reserve Bank of India has spent over $100 billion, almost a sixth of the country’s foreign exchange reserves, to prevent such a fall, and even though it has been raising the interest rate almost in tandem with the rise in the United States of America to discourage such an outflow.</p><p style="text-align:justify">The depreciation of the rupee is exacerbating the inflationary process by raising the cost of imported goods, including essential goods like oil; inflation, in turn, is creating expectations of a further depreciation of the exchange rate that become self-fulfilling: they encourage a further outflow of finance and cause a further depreciation of the rupee. So the spiral of depreciation-inflation-depreciation goes on, fed by the rush of speculators away from the rupee.</p><p style="text-align:justify">Please <a href="https://www.telegraphindia.com/opinion/vicious-cycle-a-system-without-any-steering-control/cid/1897051" title="https://www.telegraphindia.com/opinion/vicious-cycle-a-system-without-any-steering-control/cid/1897051">click here</a> to read more. </p> </font>
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Cake\View\View::renderLayout() - CORE/src/View/View.php, line 927
Cake\View\View::render() - CORE/src/View/View.php, line 885
Cake\Controller\Controller::render() - CORE/src/Controller/Controller.php, line 791
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 126
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
An essential characteristic of modern capitalism is that the living conditions of millions of people are determined by the whims and caprices of a handful of financial speculators; indeed, that is what ‘leaving things to the market’ really entails. Consider what is happening in India today. There is a massive outflow of finance from the country because of which the rupee is depreciating vis-à-vis the dollar. It has already fallen by more than 10% since February even though the Reserve Bank of India has spent over $100 billion, almost a sixth of the country’s foreign exchange reserves, to prevent such a fall, and even though it has been raising the interest rate almost in tandem with the rise in the United States of America to discourage such an outflow.
The depreciation of the rupee is exacerbating the inflationary process by raising the cost of imported goods, including essential goods like oil; inflation, in turn, is creating expectations of a further depreciation of the exchange rate that become self-fulfilling: they encourage a further outflow of finance and cause a further depreciation of the rupee. So the spiral of depreciation-inflation-depreciation goes on, fed by the rush of speculators away from the rupee.
