Are the New Economy Stocks Independent of the Economy: A Comparison of USA and India

With the information and communication technology revolution, the global economy is transforming from a low productive, manufacture based ‘old’ economy to a knowledge based, service oriented and highly productive ‘new’ economy. In this new era, composition of stock market has changed significantly with the new economy sector adding values to the stock markets. This article inquires whether this is the initiation of a new era of changed stock price behaviour at least in the context of the new economy stocks that characterizes all the financial markets experiencing e-revolution irrespective of their level of development. It confirms a special characteristic of new economy stocks that holds across countries

Revisiting Development Discourse amidst Informal Sector Crises COVID-19 Pandemic

Amid the COVID-19 pandemic, India has experienced a severe catastrophe of the informal sector, related to both health and livelihood. The informal sector and migrant workers are closely linked and they became easy prey during the nationwide lockdown at the onset of the COVID-19 pandemic. The informal sector, primarily a fallout of the prevailing dual economy, makes it highly imperative to revisit not only India’s growth and development process but also the distribution. The paper attempts to evaluate the development process adopted by developing countries and their relevance in terms of growth and inequality. The study finds the missing link of the theory of distribution of welfare economics. Lack of emphasis on equitable distribution resulted in a wide gap between the rich and poor. The informal sector crises of COVID-19 has ignited the predominance of regional inequalities in the development process on account of the dual economy and has widened the regional disparities at inter and intra-state level. By settling the migrants in their native place with the holistic economic package, comprising of technology, skills and advancement that will contribute to the rural economy in the long term. The need to institutionalize the regional or localized financial sector, health and social infrastructure has been emphasized in the paper as a long-term solution. the responsibility of informal crises in most developing countries is mainly of development discourse. There is a need to revisit the development process adopted by developing countries. The state must address the acute inequality aggravated due to the existing informal sector and implement the policies of health security during Pandemic crises

Interrogating Inclusive Development in India’s Transition Process

This paper makes two related contributions. First, the dual economic structure underlying development is shown as producing a distinct conception of other comprising of a devalued third world which is foregrounded and world of the third which is excluded. This dyad of inclusion-exclusion of other is produced in relation to the centers of capitalism and modernism. The category of third world helps to displace the language-experience-logic-ethos of the other a la world of the third such that development works over and transforms world of the third, but via the trope of a devalued third world. We then use this framework to explore the relation of global capitalism with world of the third in the Indian context, a relation that is shown to be two fold. There is on one hand an attempt to dismantle world of the third as part of the development trope of overcoming the third world. On the other, through inclusive development, an attempt is made to directly intervene in the economy of world of the third so as to address the problems of income inequality and social exclusion, again under the trope of uplifting the devalued third world

Quantum phase transition in a disordered long-range transverse Ising antiferromagnet

We consider a long-range Ising antiferromagnet put in a transverse field (LRTIAF) with disorder. We have obtained the phase diagrams for both the classical and quantum case. For the pure case applying quantum Monte Carlo method, we study the variation of order parameter (spin correlation in the Trotter direction), susceptibility and average energy of the system for various values of the transverse field at different temperatures. The antiferromagnetic order is seen to get immediately broken as soon as the thermal or quantum fluctuations are added. We discuss generally the phase diagram for the same LRTIAF model with perturbative Sherrington-Kirkpatrick (SK) type disorder. We find that while the antiferromagnetic order is immediately broken as one adds an infinitesimal transverse field or thermal fluctuation to the pure LRTIAF system, an infinitesimal SK spin glass disorder is enough to induce a stable glass order in the LRTIAF. This glass order eventually gets destroyed as the thermal or quantum fluctuations are increased beyond their threshold values and the transition to para phase occurs. Analytical studies for the phase transitions are discussed in detail in each case. These transitions have been confirmed by applying classical and quantum Monte Carlo methods. We show here that the disordered LRTIAF has a surrogate incubation property of the SK spin glass phase.Comment: 16 pages, 12 figures. accepted in PR

Interrogating Inclusive Development in India’s Transition Process

This paper makes two related contributions. First, the dual economic structure underlying development is shown as producing a distinct conception of other comprising of a devalued third world which is foregrounded and world of the third which is excluded. This dyad of inclusion-exclusion of other is produced in relation to the centers of capitalism and modernism. The category of third world helps to displace the language-experience-logic-ethos of the other a la world of the third such that development works over and transforms world of the third, but via the trope of a devalued third world. We then use this framework to explore the relation of global capitalism with world of the third in the Indian context, a relation that is shown to be two fold. There is on one hand an attempt to dismantle world of the third as part of the development trope of overcoming the third world. On the other, through inclusive development, an attempt is made to directly intervene in the economy of world of the third so as to address the problems of income inequality and social exclusion, again under the trope of uplifting the devalued third world

Phase transitions and non-equilibrium relaxation in kinetic models of opinion formation

We review in details some recently proposed kinetic models of opinion dynamics. We discuss the several variants including a generalised model. We provide mean field estimates for the critical points, which are numerically supported with reasonable accuracy. Using non-equilibrium relaxation techniques, we also investigate the nature of phase transitions observed in these models. We study the nature of correlations as the critical points are approached, and comment on the universality of the phase transitions observed.Comment: 11 pages, 8 eps figures, 1 table. Contribution for proceedings of Statphys-Kolkata-VII 26-30 November, 201

Noise induced rupture process: Phase boundary and scaling of waiting time distribution

A bundle of fibers has been considered here as a model for composite materials, where breaking of the fibers occur due to a combined influence of applied load (stress) and external noise. Through numerical simulation and a mean-field calculation we show that there exists a robust phase boundary between continuous (no waiting time) and intermittent fracturing regimes. In the intermittent regime, throughout the entire rupture process avalanches of different sizes are produced and there is a waiting time between two consecutive avalanches. The statistics of waiting times follows a Gamma distribution and the avalanche distribution shows power law scaling, similar to what have been observed in case of earthquake events and bursts in fracture experiments. We propose a prediction scheme that can tell when the system is expected to reach the continuous fracturing point from the intermittent phase.Comment: 6 pages, 8 figure

Floating Phase in 1D Transverse ANNNI Model

To study the ground state of ANNNI chain under transverse field as a function of frustration parameter $\kappa$ and field strength $\Gamma$, we present here two different perturbative analyses. In one, we consider the (known) ground state at $\kappa=0.5$ and $\Gamma=0$ as the unperturbed state and treat an increase of the field from 0 to $\Gamma$ coupled with an increase of $\kappa$ from 0.5 to $0.5+r\Gamma$ as perturbation. The first order perturbation correction to eigenvalue can be calculated exactly and we could conclude that there are only two phase transition lines emanating from the point $\kappa=0.5$, $\Gamma=0$. In the second perturbation scheme, we consider the number of domains of length 1 as the perturbation and obtain the zero-th order eigenfunction for the perturbed ground state. From the longitudinal spin-spin correlation, we conclude that floating phase exists for small values of transverse field over the entire region intermediate between the ferromagnetic phase and antiphase.Comment: 11 pages, 11 figure

A Novel Quantum Transition in a Fully Frustrated Transverse Ising Antiferromagnet

We consider a long-range Ising antiferromagnet (LRIAF) put in a transverse field. Applying quantum Monte Carlo method, we study the variation of order parameter (spin correlation in Trotter time direction), susceptibility and average energy of the system for various values of the transverse field at different temperatures. The antiferromagnetic order is seen to get immediately broken as soon as the thermal or quantum fluctuations are added. We also discuss the phase diagram for the Sherrington-Kirkpatrick (SK) model with the same LRIAF bias, also in presence of a transverse field. We find that while the antiferromagnetic order is immediately broken as one adds an infinitesimal transverse field or thermal fluctuation to the system, an infinitesimal SK spin glass disorder is enough to induce a stable glass order in the antiferromagnet. This glass order eventually gets destroyed as the thermal or quantum fluctuations increased beyond their threshold values and the transition to para phase occurs. Indications of this novel phase transition are discussed. Because of the presence of full frustration, this surrogate property of the LRIAF for incubation of stable spin glass phase in it (induced by addition of a small disorder) should enable eventually the study of classical and quantum spin glass phases by using some perturbation theory with respect to the disorder.Comment: 9 pages, 5 figure

Floating Phase in 2D ANNNI Model

We investigate whether the floating phase (where the correlation length is infinite and the spin-spin correlation decays algebraically with distance) exists in the temperature($T$) - frustration parameter ($\kappa$) phase diagram of 2D ANNNI model. To identify this phase, we look for the region where (i) finite size effect is prominent and (ii) some relevant physical quantity changes somewhat sharply and this change becomes sharper as the system size increases. For $\kappa < 0.5$, the low temperature phase is ferromagnetic and we study energy and magnetization. For $\kappa > 0.5$, the low temperature phase is antiphase and we study energy, layer magnetization, length of domain walls running along the direction of frustration, number of domain-intercepts that are of length 2 along the direction of frustration, and the number of domain walls that do not touch the upper and/or lower boundary. In agreement with some previous studies, our final conclusion is that, the floating phase exists, if at all, only along a line.Comment: 9 pages, 17 figure