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...
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Reform markets to tame food prices by Ashok Gulati and Kavery Ganguly
The food price inflation in India, measured by the wholesale price index of food items, touched a 10-year high for the week ended November 28, 2009 when it crossed 19% on point-to-point bASIs over the corresponding week a year ago. The cereal prices were up by about 13%, but pulses are up by 42%, and vegetables by 31%, although potato prices shot up by 102%. This is getting way beyond...
More »New stars in the East by Krishnan Srinivasan
Referring to China in 1947, Nehru declared, “A new star has risen in the eastern horizon,” and some years later predicted, “If you peer into the future, the obvious fourth country in the world is India.” One of the countries he had in mind has disappeared, and he did not imagine that the emergence of India and China on the global stage would lead to mutual friction. The Chinese are...
More »UN embarks on low-carbon future by detailing its own emissions
As one of its first steps towards reducing its greenhouse gas footprint, the United Nations – after one of the most wide-ranging and painstaking exercises in its history – announced today that it emits 1.7 million tons of carbon dioxide annually worldwide. That amount, more than half of which is generated by peacekeeping operations, represents just 3.3 per cent of emissions generated by New York City, the host city of...
More »Water and sustainable agriculture by S Janakarajan
The key message of the book is that agriculture in South ASIa is quite heavily stressed due to A complex set of socio-economic, agro-climatic, and hydrological factors WATER, AGRICULTURE AND SUSTAINABLE WELL-BEING: Edited by Unai Pascual, Amita Shah, Jayanta Bandyopadhyay; Oxford University Press, YMCA Library Building, Jai Singh Road, New Delhi-110001. Rs. 750. “Eradicate extreme poverty and hunger; halve, between 1990 and 2015, the proportion of people whose income is less...
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