Wednesday, September 2, 2009

Current Economic Crisis

Following are the issues identified by the group leading the discussion on the topic

Preeta Dhar---Recent Economic Crisis
1. Government policy and regulation (or the absence thereof)
2. Financial instruments adopted by financial institutions and ‘shadow banks’ - risk distribution financial mechanisms: hedging, securitization
3. Risk assessment, and credit rating agencies
4. Insulating from risk v. wagering
5. ARMs and how the bubble burst
6. Impact on the global economy

Yaman Verma---The great depression and the changes it caused
1. Is law what the judge thinks it is? Or is the Court's task was simply 'to lay the article of the Constitution which is invoked beside the statute which is challenged and to decide whether the latter squares with the former.'
2. Did the great depression change the definition of what constituted inter-state?
3. Did the great depression change the interpretation of what legitimate state action is? How?

Parag Mohanty---Freedom of trade and economy-based restrictions
1) What is the scope of the right granted under Article 19 1 (g) and what is the scope of regulation permissible under it?
a) Does the scope of the right depend upon the nature of Indian economy apart from public interest.
b) Has the scope changed over the years in response to economic changes?

Niharika Rao---Federalism and economic
1. Can a deregulated market oriented economy flourish in a centralisedfederal polity?

2. Are courts justified in ruling on fiscal matters (such as pricedifferences across the country) under the guise of constitutional lawinstruments such as legislative competence?

3. What kind of departure from India's original Union-centred federalfiscal policy does disinvestment respresent, considering the State retainscontrol of a majority of (partially) disinvested companies?

4. What is the role of the state in the economy?can the pub sec besubjected to the same criteria as those used toassess private enterprises?

Nishita Vasan---The regulatory state
What is the impact of the burgeoning of regulatory agencies and the administrative state on separation of powers?
What are the limits of regulation? Can the judiciary place limitations on the executive’s power to legislate the ‘private sphere’?
Can the judicial deference to the executive in cases of regulatory agencies be reconciled with due process and rule of law?
In the context of court-packing, what role does politics play in constitutional jurisprudence?
Do regulatory agencies unfairly infringe upon an individual’s economic freedom?

Ankita Kansil—New Economic Policy
1. How has the New Economic Policy (1991) influenced the approach of the judiciary towards rights of the labour in India?
2. What is the impact of the differential standard adopted by the judiciary in its approach to environment protection?

1 comment:

  1. Another interesting dimension to explore here might be the judicial and legislative responses (which led to many changes) after the economic crisis immediately preceding 1991 liberalisation. Useful analogies may be drawn.