Due to the sort of changes taking place in contemporary technology, more processes are being automated, thereby requiring less labour. This time the change is not simply the move away from labour-intensive to capital-intensive techniques.
In the wake of the free fall of the Indian rupee versus the dollar, academic discussions on depreciation and its pros and cons have taken centre stage.
Full applause to Prabhat Patnaik (“On Some Foundational Issues in the Theory of Money”, EPW, 15 January) for enlightening the readers about various theoretical issues associated with the long tradition of the evolution of theories of money.
