Global Instability and the Development Project: Is the Twenty-First Century different? Jayati Ghosh

GLOBAL CAPITALISM TODAY: UNSTABLE, MORIBUND, OR JUST RESTING? Ever since the global financial crisis of 2008–2009, the trajectory of the world economy has been hesitant, unstable and prone to many risks. Output recovery has been limited and fragile; and, more significantly, even in the more dynamic economies, it has not increased good-quality employment or reduced inequality and material insecurity. Global capitalism as an economic regime is increasingly unable to deliver on its own promise of continuous expansion within a largely stable society. Even so, discussions of the ‘end’ of capitalism still typically seem overstated and futile, not least because those…

Too Many Years of Living Dangerously: The UNCTAD Trade and Development Report 2016 Jayati Ghosh

For many years now, the Trade and Development Reports produced by UNCTAD have been providing a voice of sanity in a global discourse on the world economy that has often appeared to be dominated by denial and irrelevance. The Report has also often proved to be remarkably prescient, for example by anticipating as early as 2006 the likely collapse of financial markets that occurred in 2008, or by pointing in the past few years to the futility of excessive reliance on monetary policies alone to lift economic growth, which policy makers are only beginning to come to grips with at…

Bangladesh Garments: Global chain of profit and deprivation Anu Muhammad

We have witnessed the worst industrial disaster in Bangladesh, one beyond the wildest calculation and more horrifying than we could even imagine. On April 24, 2013 another garment factory, Rana Plaza in Savar near the capital city of Bangladesh, Dhaka, suddenly turned into a mass grave. The death toll continues to climb and passed 1000, with many still missing. I don’t think anybody has the capacity to capture the extent of grief, heartache, discontent, and anger this horror has created. The collapse of this eight-storey garment factory took place only 5 months after another fire disaster at Tazreen Fashions that…

Emerging Global Trade Trends: More Clouds over the South’s Prospects Smitha Francis

While estimates for world trade in 2003 and 2004 offer an optimistic outlook on global trade prospects, structural shifts observed particularly in the pattern of services and agricultural trade suggest that even an expanding world trade scenario may not be neutral in its implications for the prospects of developing countries to expand their global market shares. Emerging_Global_Trade_Trends  (Download the full text in PDF format)