Developing Economics

By Farwa Sial and C.P. Chandrasekhar  Private credit markets are showing real signs of stress, with multiple major funds restricting withdrawals as investors struggle to exit illiquid holdings. The fears of investors in these funds, which explain the withdrawals, is driven by the success of AI, which, while driven by enormous capital spending financed in part […]

The Shanghai Cooperation Organisation (SCO’s) 2025 summit in Tianjin produced a series of outcomes that, although modest in appearance, are strategically significant. The most prominent developments were the agreement in principle to establish an SCO Development Bank, seeded with approximately ¥2 billion in grants and a further ¥10–14 billion in concessional loans from China. The summit [&#8…

Why do so many people who claim to “see the whole system” remain blind to power? This question struck me while listening to a recent episode of Planet Critical. The guest was Joseph Tainter, best known for The Collapse of Complex Societies. Tainter is celebrated as a pioneer of collapse studies and systems thinking. Yet […]

In the past two decades, global health governance has undergone a quiet revolution, shaped less by sovereign states and more by the growing influence of private capital. The World Health Organisation (WHO), once envisioned as the democratic engine of international public health, has increasingly come to rely on large-scale philanthropic foundations. This shift toward what […]

In June, 1,200 scholars and activists from around the world gathered in Norway for a historic convergence of two movements: degrowth and ecological economics. During the closing plenary session, I listened to three speakers, two of whom—Kate Raworth and Max Ajl—represented radically different approaches to our current crises. Though Raworth and Ajl engaged in respectful […]

On May 7th 2025, the Chilean government confirmed a report published earlier that morning: Chinese companies BYD and Yongqing Technology (Tsingshan Group) had abandoned their planned lithium cathode production facilities in Chile. This announcement dealt a significant blow to the ambitions of a country with a longstanding mining tradition, now striving to build industrial capabilities […]

The effectiveness of private equity has been a subject of ongoing debate in countries of the Global North. There is substantial evidence highlighting the extractive practices associated with private equity operations across Western nations. Examples include the decline of the British high street and the financial instability of local councils in the UK, particularly in the provision […]

The International Trade Union Confederation’s (ITUC) 2025 Global Rights Index was released on 2 June. The report presents a sobering picture of escalating violations of workers’ rights globally. Based on data from 151 countries, the Index reports that 87% of countries violated the right to strike, 80% restricted collective bargaining, and over 70% impeded union […]

It has been more than a century since Ambedkar’s second disquisition in the discipline of economics was published; The problem of the rupee: its origin and its solution was published in the year 1923. Ambedkar was awarded a Doctor of Science (D. Sc) upon completion of the aforementioned dissertation from the London School of Economics. […]

The economist Alice Amsden’s work unmasked the dirty secret underlying capitalist development: it relied on states breaking all the rules of the free market. But her work also showed that industrialization required corporate discipline, not welfare. For American defenders of economic liberalism and free markets, China’s rise has been deeply disorientating. Unmoved by concerns about […]