Steve’s guest is Dr. Ruchira Sen who got her PhD at UMKC where she studied with a number of friends of this podcast. Herresearch areas are in feminist economics, informed by institutional economics, MMT, and Marxian economics. She describes an economy built on the backs of women, that exists outside the normal parameters of capitalism while making it possible for capitalism to thrive.

We've had neoliberal reforms since the 1990s, which has meant a gradual withdrawal of the state from almost everything. And that has specifically impacted the lives of women. Because when the state withdraws from providing you basic services like water, electricity, then it's usually the women who become additionally burdened...

The participation of women in the (paid) labor force is declining, their contribution to unpaid work is phenomenal.

In a country as massive as India, with a population of around a billion, any change in government policy can have far-reaching and unexpected consequences. Ruchira describes the effects of the 2016 demonetization action, in which two currency notes – of the most widely used denominations – were taken out of circulation. Among a population where the majority of individual financial transactions are conducted in cash and many don’t have bank accounts, this “decashification” caused widespread suffering for the poor and working class.

Steve asks Ruchira what drives poverty in India and she talks about British colonial policy and the deindustrialization of the Ganges plain. Poverty is essentially a result of the pushing of capitalist relations onto our population. Not to say that there was no hunger before but the colonial power imposed selective tariff policies on Indian textiles...

They pretty much decimated the artisan population in the Gangetic Plains and destroyed much of local industry. That resulted in large bodies of people who were dispossessed. They had nothing but their labor and they became the proletariat. I think it's pretty fundamental to how colonialism works because you need general labor-ready bodies to do the work, to produce the exports that your home country needs, to produce the wealth that your home country will drain away.

Ruchira talks about the pervasive threat of violence against women in India, and what she calls a watershed moment – the Nirbhaya Incident and anti-rape agitation. She talks about the left, including some active communist parties that have had successes but have also made questionable choices on occasion. And she talks about India’s lack of energy and food independence.

Dr. Ruchira Sen is an Assistant Professor of Economics at Jindal School of Journalism and Communication at O.P. Jindal Global University in India. She teaches macroeconomics, data analysis for storytelling, and data journalism. Her PhD in economics is from the University of Missouri-Kansas City. Ruchira is primarily concerned with low paid and unpaid labor in various fields from housework and marriage to the media. She has written on dowry as a gift system in South Asia and how it relates to violence, and on international networks of care and how they impact the USA. Her recent research is on mediated activism in India. Ruchira is primarily informed by an international post-colonial feminist view of the world by MMT and Marxism.

@RuchiraSen67 on Twitter