Liberalization is supposed usually to bring in large amounts of direct foreign investment. What has come into the Indian economy after liberalization however is not so much direct foreign investment as 'hot money' interested in speculation. This is hardly surprising: what we have witnessed of...

[eng] Prabhat Patnaik - The Crisis in India's countryside.. The paper points at the sharp drop in levels of living for the rural poor and the stagnation in agriculture which provides the wherewithal for their survival. Stagnation in agriculture and the rising poverty level in India today are...