C. P. Chandrasekhar is currently Professor at the Centre for Economic Studies and Planning, Jawaharlal Nehru University, New Delhi. He has published widely in academic journals and is the co-author of Crisis as Conquest: Learning from East Asia (Orient Longman), The Market that Failed: Neo-Liberal Economic Reforms in India (Leftword Books) and Promoting ICT for Human Development: India (Elsevier). He is a regular columnist for Frontline (titled Economic Perspectives), Business Line (titled Macroscan) and the Web site of The Hindu (titled Economy Watch).

Jayati Ghosh is Professor of Economics at Jawaharlal Nehru University, New Delhi. She has authored and co-edited several books and more than 120 scholarly articles. She is Executive Secretary of International Development Economics Associates (IDEAS - and Trustee of Economic Research Foundation ( She was the Chairperson, Andhra Pradesh Commission on Farmers’ Welfare in 2004 and Member, National Knowledge Commission, 2004-09. She has consulted for many international organisations, including UNDP, UNCTAD, UN-DESA and ILO. She was awarded the NordSud Prize for Social Sciences 2010 of the Fondazione Pescarabruzzo, Italy, and the ILO Decent Work Research Prize for 2010.

The burden of corporate debt

After peaking in 2007-08, corporate profitability in India has been on the decline. High cost debt is one of the reasons »

Have workers in Gujarat benefited from “development”?

Gujarat’s model of growth and development has been much talked about. But has it benefited its people, particularly workers? CP Chandrasekhar and Jayati Ghosh compare wages of casual workers with some other states »

The missing political cycle in fiscal management

Fearing the responses of rating agencies and foreign financial investors, the UPA government has chosen to behave “abnormally” and cut expenditures in a pre-election year »

Emerging economies in a vulnerable phase

The Fed taper is not the only problem. The rebalancing of US-China trade poses its own challenges »

Textiles: Spools of opportunity for India

Relative cost advantages and the changing geography of world production and trade could work to our advantage »

Are our labour markets less segmented now?

Indian labour markets are segmented by gender, caste and community. But recent patterns in wages suggest some changes, especially in rural areas »

The employment challenge

In recent years, even in those developing countries in Asia where productivity gains have been significant and growth high, increasing employment has been a huge challenge. »

Failing to build on success

Whatever the criticisms against the UPA government may be, its effort to provide employment to large sections of the population under the Mahatma Gandhi Rural Employment Guarantee Act must be lauded. Yet, after the initial success of the scheme, the enthusiasm of the Central government itself seems to have diminished in its second term in power. How palpable is the shift to lower gear? »

Unleashing the animal spirits

Confronted with slowing growth, the government has been arguing that stalled investment resulting from a range of policy and supply side constraints are the causes of the downturn. In response, the... »

Is there a case for fiscal stringency now?

The Finance Ministry move to cut spending across the board citing ballooning fiscal deficit is a knee-jerk reaction, which could impact vital social sector spending. »
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