The collapse of the Dubai dream is not without any implications; it may be an indication that the travails of finance capitalism are not over. GLOBAL capitalism is in a phase in which it must deal with the fruits of the overextension during the previous boom, and there is no doubt that this is going to be painful. The financial crisis in the United States and some other developed countries...

It is official now that the poverty in India is much more than earlier estimated. The Suresh Tendulkar Committee report submitted this month (December 09) estimates poverty in India at over 37 per cent (2004-5) and not at 28 per cent as calculated earlier. With recent price rise in food items factored, the current level could be even higher (See the link of the report below). The Government of India had...

Within a few days from today we will be crossing over to the second decade of the 21st century. Those of us born in the 20th century and lived through the first decade of the 21st, have indeed been fortunate to experience the impact of several giant steps of progress in human history. Mankind has indeed achieved much more in this period than it had in all the previous periods...

While the government may have got reprieve with the fair and remunerative price, the mills are expected to move the courts On October 21, the Central government came out with an ordinance that it will henceforth announce a fair and remunerative price for sugarcane, instead of the statutory minimum price. Millions of farmers across the country grow sugarcane which they sell to sugar mills. To make sure that prices don’t tank...

The outcome of the historic climate change negotiations in Copenhagen hinges on the issues of emissions reductions and financing, Secretary-General Ban Ki-moon said today as he urged world leaders to use the final days of the talks to strike an ambitious new agreement. The Nobel Peace Prize-winning Intergovernmental Panel on Climate Change (IPCC) has found that to stave off the worst effects of climate change, industrialized countries must slash greenhouse...