You are here: Home » Opinion » Columns
Business Standard

A V Rajwade: Overselling neoliberalism

Income inequality and reduced growth apart, it leads to volatile exchange rate, which hampers trade and therefore growth

A V Rajwade 

A V Rajwade

In this column, a couple of weeks back (“Time to upend convention”, August 18), I had discussed an article by three economists in the International Monetary Fund (IMF). It had argued that, in recent decades, “neoliberalism” has been oversold in terms of the economic benefits it is supposed to lead to.

One of the items on the neoliberal agenda the article discussed was the issue of capital account liberalisation. While the article argued that such liberalisation leads to income inequalities and this, in turn, reduces growth, it did not refer to another fallout: volatile ...

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Wed, August 31 2016. 21:48 IST