Financing Education Prabhat Patnaik

The Draft National Education Policy unveiled by the central government puts forward a bizarre line of reasoning. Education, it is argued on the basis of a long-held and honourable belief going back to the Kothari Commission, should have an annual expenditure of around 6 percent of the Gross Domestic Product; we have come nowhere near this figure even after so many years and cannot do so on the basis of government effort owing to our stretched budgetary resources; hence, to realize this target, which most right-thinking persons in the country would accept, we must draw the private sector into the…

Corruption in the age of Liberalisation C.P. Chandrasekhar

In a season for scandals, allegations of large scale corruption have captured political India‚Äôs attention. The instances to which such allegations relate are many, varying from the sale of 2G spectrum and the mobilisation and/or disposal of land and mining resources, to purchases made as part of large and concentrated public expenditures (as in the case of the Commonwealth Games). Features that these ostensible instances of corruption have in common are their large size in terms of sheer magnitude and the brazen violation of the law they involve. If true, the allegations not only indicate that corruption still prevails but…

How Brazil can defend against Financialization Michael Hudson

In this article, it is argued that for developing countries, privatizing the public domain and financializing the economy is akin to military defeat. To defend themselves, the BRIC countries need to isolate themselves from global debt creation. And Brazil (as well as other developing countries), needs to promote the investment of its economic surplus for raising production and living standards, so as to create a positive feedback between higher wage levels and productivity, hence higher global competitiveness. Brazil (Download the full text in PDF format)

Foreign Direct Investment and Utilization of Natural Gas in Bangladesh Anu Muhammad

This paper investigates the natural gas sector of Bangladesh and examines whether optimum utilization of natural gas is directly or inversely correlated to the present form of Foreign Direct Investment in that sector. The findings of the study concludes that, FDI in gas sector was not warranted considering the local capability and demand-supply scenario. The article also examines the viability of exporting gas from Bangladesh. fdi_gas (Download the full text in PDF format)