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<DIV dir=ltr><FONT face=Arial size=2>----- Forwarded Message -----<BR><B><SPAN style="FONT-WEIGHT: bold">From:</SPAN></B> E R F <erf@vsnl.com><BR><B><SPAN style="FONT-WEIGHT: bold">To:</SPAN></B> MacroScan Mailing List <macroscan@lists.riseup.net> <BR><B><SPAN style="FONT-WEIGHT: bold">Sent:</SPAN></B> Friday, 1 June 2012, 14:21<BR><B><SPAN style="FONT-WEIGHT: bold">Subject:</SPAN></B> [MacroScan] What's New on Macroscan (May 1, 2012 to May 31, 2012)<BR></FONT></DIV><BR>
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<DIV align=left><SPAN style="FONT-FAMILY: verdana, geneva"><SPAN style="COLOR: #000080"><B> </B><SPAN style="COLOR: #000000"> </SPAN><BR><B>What's New on</B></SPAN><B> </B><B><SPAN style="COLOR: #000080">Macroscan</SPAN> <SPAN style="COLOR: #000080">(May 1, 2012 to May 31, 2012) <A href="http://www.macroscan.org/" target=_blank rel=nofollow>www.macroscan.org</A> or <A href="http://www.macroscan.net/" target=_blank rel=nofollow>www.macroscan.net</A> </SPAN></B></SPAN></DIV>
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<DIV class=hr style="BORDER-RIGHT: #ccc 1px solid; PADDING-RIGHT: 0px; BORDER-TOP: #ccc 1px solid; PADDING-LEFT: 0px; FONT-SIZE: 0px; PADDING-BOTTOM: 0px; MARGIN: 5px 0px; BORDER-LEFT: #ccc 1px solid; LINE-HEIGHT: 0; PADDING-TOP: 0px; BORDER-BOTTOM: #ccc 1px solid; HEIGHT: 0px" readonly="true" contenteditable="false"></DIV><SPAN style="FONT-FAMILY: verdana, geneva"><SPAN style="COLOR: #008080"><B>CURRENT ISSUES<BR></B></SPAN><SPAN style="COLOR: #000000"><B> <BR><A href="http://www.macroscan.org/cur/may12/cur210512ILO.htm" target=_blank rel=nofollow>ILO Leadership Election Must Not be Another Charade</A></B><BR><SPAN style="COLOR: #008080">May 21st 2012, C.P. Chandrasekhar<BR></SPAN> <BR>The ILO is uniquely positioned among the multilateral organisations to play an extremely significant role in forging a global consensus around viable alternative economic trajectories. The election of a developing country candidate as its new
Director-General would have important consequences that go beyond symbolism.<BR> <BR><B><A href="http://www.macroscan.org/cur/may12/cur160512End_Madness.htm" target=_blank rel=nofollow>Time to End the Madness</A><BR></B><SPAN style="COLOR: #008080">May 16th 2012, C.P. Chandrasekhar</SPAN><BR> <BR>Irrational insistence on fiscal conservatism has led to widespread growth slowdown not only in the European countries, but also in emerging economies like China and India. The political backlash in major eurozone economies rekindles hope that governments embracing growth stunting fiscal tightening would soon switch back to sound economic policy-making.<BR> <BR><B><A href="http://www.macroscan.org/cur/may12/cur160512Pension_Scheme.htm" target=_blank rel=nofollow>Is a Universal Pension Scheme Feasible in India?</A></B><BR><SPAN style="COLOR: #008080">May 16th 2012, Jayati
Ghosh</SPAN><BR> <BR>In an economy like ours, a universal pension scheme must be part of a broader development strategy that focuses on public investment in physical and social infrastructure, which will ensure supply of necessary goods and services while increasing demand from the population in a stable and inclusive way.<BR> <BR><A href="http://www.macroscan.org/cur/may12/cur110512Roaring_2000s.htm" target=_blank rel=nofollow><B>The Roaring 2000s</B><BR></A><SPAN style="COLOR: #008080">May 11th 2012, C.P. Chandrasekhar</SPAN><BR> <BR>The coincidence of the profit and the output booms during the two post-liberalisation booms in India's organised manufacturing sector since the early 1990s suggests that in periods of rising demand, the organised manufacturing sector in India has been a major beneficiary of reform through a rise in mark up. The complaints of the leaders of this sector
are therefore not to be taken too seriously.<BR> <BR><B><A href="http://www.macroscan.org/cur/may12/cur100512Pension_Scheme.htm" target=_blank rel=nofollow>For a Universal Old-age Pension Scheme</A></B><BR><SPAN style="COLOR: #008080">May 10th 2012, Prabhat Patnaik</SPAN><BR> <BR>The basic argument behind the demand for a universal, non-means-related, non-contributory pension scheme is derivable from the rights-based approach and stands unimpaired. For raising the resources necessary for such a publicly-funded pension scheme, tax proposals similar to those in international discussions can be worked out for India as well.<BR> <BR><A href="http://www.macroscan.org/cur/may12/cur080512Paralysis.htm" target=_blank rel=nofollow><B>Paralysis in Policy Assessment</B><BR></A><SPAN style="COLOR: #008080">May 8th 2012, C.P. Chandrasekhar<BR></SPAN> <BR>The kind of
policy paralysis that the UPA government is identified with refers to the failure of the government to deliver fully on its commitment to so-called economic reform. But the true paralysis lies in its inability to address deprivation by allocating additional resources and improving delivery to accelerate advance on the human development front.<BR> <BR><B><A href="http://www.macroscan.org/cur/may12/cur080512Communist.htm" target=_blank rel=nofollow>A Communist's Life under Capitalism</A></B><BR><SPAN style="COLOR: #008080">May 8th 2012, Prabhat Patnaik</SPAN><BR> <BR>The contradictions confronting the personal life of a Communist activist having to work within a capitalist society have not attracted much classical Marxist theorizing. But the question of how a communist living under capitalism must both engage in quotidian life and yet be outside of it needs to be addressed for the formulation of an
appropriate Communist praxis in today's world.<BR> <BR><A href="http://www.macroscan.org/cur/may12/cur070512Industrial_Policy.htm" target=_blank rel=nofollow><B>The Continuing Need for Industrial Policy</B><BR></A><SPAN style="COLOR: #008080">May 7th 2012, Jayati Ghosh<BR></SPAN> <BR>The 13th UNCTAD conference held recently in Qatar discussed industrial policies as the significant yet unsung force behind the much trumpeted emergence of some developing economies as major players in the global stage. Despite liberalisation in the '90s, much of India's success too lies in the industrial policies that preceded it. Moreover, India has much to learn from its counterparts like Brazil on how to utilise industrial policies even in largely market-driven economies.<BR></SPAN> </SPAN>
<DIV class=hr style="BORDER-RIGHT: #ccc 1px solid; PADDING-RIGHT: 0px; BORDER-TOP: #ccc 1px solid; PADDING-LEFT: 0px; FONT-SIZE: 0px; PADDING-BOTTOM: 0px; MARGIN: 5px 0px; BORDER-LEFT: #ccc 1px solid; LINE-HEIGHT: 0; PADDING-TOP: 0px; BORDER-BOTTOM: #ccc 1px solid; HEIGHT: 0px" readonly="true" contenteditable="false"></DIV><SPAN style="FONT-FAMILY: verdana, geneva"><SPAN style="COLOR: #000000"><SPAN style="COLOR: #008080"><B>FEATURES<BR></B></SPAN></SPAN><B> <BR><A href="http://www.macroscan.org/fet/may12/fet290512Profits_Growth.htm" target=_blank rel=nofollow>Of Profits and Growth<BR></A></B><SPAN style="COLOR: #008080">May 29th 2012, C.P. Chandrasekhar and Jayati Ghosh</SPAN></SPAN><BR><SPAN style="FONT-FAMILY: verdana, geneva"> </SPAN><BR><SPAN style="FONT-FAMILY: verdana, geneva">The period between 2002-03 and 2008-09 saw India's economy grow at an unprecedented rate, with manufacturing too witnessing a revival.
However, the rate of growth of the manufacturing sector would be reduced due to the effects of the recent developments of reduction and even reversal of foreign capital inflows, the liquidity crunch and the large scale corruption in India.</SPAN><BR><SPAN style="FONT-FAMILY: verdana, geneva"> </SPAN><BR><SPAN style="FONT-FAMILY: verdana, geneva"><B><A href="http://www.macroscan.org/fet/may12/fet150512Capita_Incomes.htm" target=_blank rel=nofollow>Growing Differences in State Per Capita Incomes</A><BR></B><SPAN style="COLOR: #008080">May 15th 2012, C.P. Chandrasekhar and Jayati Ghosh</SPAN></SPAN><BR><SPAN style="FONT-FAMILY: verdana, geneva"> </SPAN><BR><SPAN style="FONT-FAMILY: verdana, geneva">The period of economic liberalisation has been marked by growing differences in per capita incomes across states, although the trend has varied across decades. In this article, the authors examine the
evidence on per capita Net Domestic Product at the state level since 1980, and consider some possible explanations for the observed trends.<BR> </SPAN><BR>
<DIV class=hr style="BORDER-RIGHT: #ccc 1px solid; PADDING-RIGHT: 0px; BORDER-TOP: #ccc 1px solid; PADDING-LEFT: 0px; FONT-SIZE: 0px; PADDING-BOTTOM: 0px; MARGIN: 5px 0px; BORDER-LEFT: #ccc 1px solid; LINE-HEIGHT: 0; PADDING-TOP: 0px; BORDER-BOTTOM: #ccc 1px solid; HEIGHT: 0px" readonly="true" contenteditable="false"></DIV><SPAN style="FONT-FAMILY: verdana, geneva"><B><SPAN style="COLOR: #008080">WEB RESOURCES</SPAN></B></SPAN><BR><SPAN style="FONT-FAMILY: verdana, geneva"><B> <BR><A href="http://www.ras.org.in/index.php?id=HomePage" target=_blank rel=nofollow>Review of Agrarian Studies (RAS)</A></B></SPAN><BR><SPAN style="FONT-FAMILY: verdana, geneva"><SPAN style="COLOR: #008080">May 28th 2012</SPAN><BR> <BR>The Review of Agrarian Studies is the peer-reviewed journal of the Foundation for Agrarian Studies (<A href="http://www.agrarianstudies.org/" target=_blank rel=nofollow>www.agrarianstudies.org</A>), a
charitable trust based in India and established in 2003. The major objectives of the Foundation are to facilitate and sponsor multi-disciplinary theoretical and empirical enquiry in the field of agrarian studies in India and elsewhere in less-developed countries. The Foundation does so in association with a wide section of people interested in the agrarian question, including persons associated with academic institutions, social and political activists, members of mass organizations working in the countryside, and other professionals and scholars.</SPAN><BR><SPAN style="FONT-FAMILY: verdana, geneva"> </SPAN><BR>
<DIV class=hr style="BORDER-RIGHT: #ccc 1px solid; PADDING-RIGHT: 0px; BORDER-TOP: #ccc 1px solid; PADDING-LEFT: 0px; FONT-SIZE: 0px; PADDING-BOTTOM: 0px; MARGIN: 5px 0px; BORDER-LEFT: #ccc 1px solid; LINE-HEIGHT: 0; PADDING-TOP: 0px; BORDER-BOTTOM: #ccc 1px solid; HEIGHT: 0px" readonly="true" contenteditable="false"></DIV><SPAN style="FONT-FAMILY: verdana, geneva"><SPAN style="COLOR: #008080"><B>MacroScan is a website managed by professional economists seeking to provide an alternative to conservative and mainstream positions in economics. The site is maintained by the Economic Research Foundation, New Delhi.<BR> </B><SPAN style="COLOR: #000000"> </SPAN><BR><B>Website : </B></SPAN><SPAN style="COLOR: #000080"> <B><SPAN style="COLOR: #008080"><A href="http://www.macroscan.org/" target=_blank rel=nofollow>www.macroscan.org</A> or <A href="http://www.macroscan.net/" target=_blank
rel=nofollow>www.macroscan.net</A> </SPAN></B></SPAN></SPAN></DIV></DIV></DIV><BR><BR></DIV></DIV></div></body></html>