On Karl Marx’s 200th Birth Anniversary SFI organised a lecture on Marx After Marx delivered by Prof. Prabhat Patnaik.
Author Archive | Prabhat Patnaik
Capitalism, poverty and praxis
Capitalism is an economic system driven by its own immanent tendencies, which the State that presides over it normally supports, sustains and accelerates.
Ashok Mitra: the doyen among Left intellectuals in India
Ashok Mitra who passed away on May1, 2018, was the doyen among Left intellectuals in the country, held in the highest esteem by one and all for his absolute integrity, his outstanding intellect and his commitment to the cause of the working people.
Trump’s protectionism
ON March 8, Donald Trump made an announcement which according to many has the potential of starting a global trade war. He announced that the U.S. would be raising tariffs on imported steel by 25 per cent and tariffs on imported aluminium by 10 per cent.
Commoditisation and the public sphere
The commoditisation of education which makes it completely incapable of providing students with the wherewithal to engage in any active and worthwhile public discourse, has proceeded apace under the neo-liberal regime.
Enclosed thinking
In a slave society, one can argue, the interest of the slaves lies in keeping the slave owner happy, for otherwise he is likely to flog and whip them mercilessly which would cause them great agony. Likewise in a caste society, one can argue, the interest of the Dalit lies in being as inconspicuous as […]
Bubbles, stocks and crashes
WHAT is happening in the U.S. economy provides an object lesson on the functioning of neo-liberal capitalism. Pre-first world war capitalism which had witnessed the long Victorian and Edwardian boom had relied on the colonial arrangement for the system’s dynamics.
Marx on imperialism
On February 19, 1881, Karl Marx had written a remarkable letter to N.F. Danielson, the renowned Narodnik economist who had also gone under the name of Nikolayon and whose work had been much discussed by Lenin.
Neo-liberal capitalism and its crisis
“Neo-liberal capitalism” is the term used to describe the phase of capitalism where restrictions on the global flows of commodities and capital, including capital in the form of finance, have been substantially removed.
The current upsurge of fascism
To describe the present upsurge of fascism as nationalist or populist would be misleading. Neither is it a replication of the fascism of the 1930s. However, it is marked by four features, which have been common to all fascist upsurges in the past, namely: rise of supremacism, apotheosis of unreason, proliferation of fascism as a […]
Twenty years after the Asian financial crisis
The hegemony of international finance capital, which led to economies “opening” themselves up to the vortex of global financial flows, demolished both Nehruvian dirigisme and East Asian neo-mercantilism. And the same hegemony has now brought the world capitalist economy to a crisis from which it is in no position to recover.
Prabhat Patnaik on contemporary capitalism and the shape it takes in India
I think Marxism analyses the contemporary world in a way which nobody else did. Lenin had said the strength of Marxism lies in the fact that it is true. The point is that it is a genuine scientific discovery.
Imperialism still alive and kicking
With the reassertion of the dominance of finance, in the guise now of an international finance capital, the third world States have withdrawn from supporting petty producers, a process of income deflation is in full swing, and the imperialist arrangement is back in place, because of which we can see once more a tendency towards […]
New Perception of Imperialism
If accumulating wealth is the basic objective of capitalism, organising production using wage labour is only one of the ways it can be achieved. What finance does is to open an alternative route to reach the same objective, that is via transaction.
Developing “Infrastructure”
The term “infrastructure” covers all sorts of things, from ports to roads to canals to bridges to building railway lines. Because it covers such a range of things, many of which appear to be useful, most people look upon “infrastructure” development as an indubitably desirable thing under all circumstances. Questions are scarcely asked about its […]
