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About Prabhat Patnaik

Prabhat Patnaik is an Indian political economist and political commentator. His books include Accumulation and Stability Under Capitalism (1997), The Value of Money (2009), and Re-envisioning Socialism (2011).
  • What's happening in France? The 'yellow vest' movement explained ... AzeriTimes.com

    The Yellow Vest movement

    Originally published: IDEAs (International Development Economics Associates) on December 17, 2018 (more by IDEAs (International Development Economics Associates))  |

    Nothing shows the crisis of neo-liberal capitalism more clearly than the popular uprising in France that is occurring under the banner of the “Yellow Vest” movement.

  • Ideological Struggles in Contemporary Capitalism | NewsClick NewsClick

    Contemporary capitalism and the world of work

    Originally published: IDEAs (International Development Economics Associates) on December 4, 2018 (more by IDEAs (International Development Economics Associates))  |

    The most significant feature of contemporary capitalism which is of relevance to the world of work is its inability to provide work to a substantial proportion of persons looking for it.

  • Girish Karnad Caught in Web of 'New Language' of Hindutva Politics ... NewsClick

    Vilifying the intelligentsia

    Originally published: Peoples Democracy on November 25, 2018 (more by Peoples Democracy)  |

    NARENDRA Modi said the other day, rather disparagingly, that the “Urban Naxals” live in air-conditioned comfort. Since all who speak or write in public upholding the right to dissent from the Hindutva positions, including even known critics of the Left, which means virtually all members of the intelligentsia who display any integrity, have been dubbed “Urban Naxals” by his government, his remark in effect amounts to targeting the entire intelligentsia.

  • Neo-Liberalism and the Diffusion of Development

    Neo-Liberalism and the diffusion of development

    Originally published: NewsClick.in on November 18, 2018 (more by NewsClick.in)  |

    Capitalism in short was the panacea for mass poverty in the third world and not its progenitor as the Marxists had been arguing. The crisis that is enveloping the third world economies at present, is putting an end to that claim.

  • Indian Currency

    The Indian economy in a tailspin

    Originally published: Peoples Democracy on September 30, 2018 (more by Peoples Democracy)  |

    THE Indian economy is in a tailspin. This cannot be attributed only to innocence in economic matters of the command-centre of the NDA government. While that is indubitably a contributing factor, the current travails of the economy point to something deeper, namely the dead-end to which neo-liberalism has brought the economy.

  • Migrant children traveling with their parents

    Dossier 7: The imperialism of finance capital and ‘trade wars’

    Originally published: Tricontinental: Institute for Social Research on August 2018 (more by Tricontinental: Institute for Social Research)  |

    Trump wants to resolve the crisis for America, caused by neo-liberalism, within the basic confines of neo-liberalism itself, i.e. without violating its core characteristic, which is free global mobility of finance.

  • SAMIR AMIN (1931-2018)

    In memoriam: Samir Amin

    Originally published: IDEAS Network on August 13, 2018 (more by IDEAS Network)  |

    Samir Amin, the renowned Marxist thinker and economist, passed away on August 13 in Paris. Born in Cairo on September 3, 1931, to an Egyptian father and a French mother, he had his initial education in Egypt before moving to Paris where he obtained his doctorate in Political Economy.

  • Labourers in the throes of uncertainties - Pakistan - DAWN.COM dawn.com

    Capitalism’s discourse on “development”

    Originally published: Peoples Democracy on July 29, 2018 (more by Peoples Democracy)  |

    CAPITALISM’S discourse on “development” which has become quite influential all over the third world in the neo-liberal period proceeds as follows.

  • Overproduction of steel in China

    Why didn’t socialism have over-production crises?

    Originally published: Peoples Democracy on July 2, 2018 (more by Peoples Democracy)  |

    SOCIALISM has collapsed over large tracts of the globe. Where it still exists, the economic regimes have undergone considerable reforms. Not surprisingly therefore the old socialist regimes are objects of much vilification these days.

  • Trump at Charlevoix (Image Coutesy: CBC.ca)

    Trump versus the rest

    Originally published: NewsClick.in on June 14, 2018 (more by NewsClick.in)  |

    Donald Trump’s leaving the G-7 summit without budging an iota on protectionism is indicative of the disunity among the leading capitalist countries on the strategy to overcome the capitalist crisis.

  • Prabhat Patnaik

    Marx after Marx

    Originally published: Samim Asgor Ali Youtube Channel on May 9, 2018 (more by Samim Asgor Ali Youtube Channel)

    On Karl Marx’s 200th Birth Anniversary SFI organised a lecture on Marx After Marx delivered by Prof. Prabhat Patnaik.

  • Capitalism

    Capitalism, poverty and praxis

    Originally published: IDEA's (Independent Development Economics Associates) on April 28, 2018 (more by IDEA's (Independent Development Economics Associates))

    Capitalism is an economic system driven by its own immanent tendencies, which the State that presides over it normally supports, sustains and accelerates.

  • Books by Ashok Mitra

    Ashok Mitra: the doyen among Left intellectuals in India

    Originally published: NewsClick.in on May 2, 2018 (more by NewsClick.in)  |

    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.

  • Trumps protectionism

    Trump’s protectionism

    Originally published: Peoples Democracy on March 26, 2018 (more by Peoples Democracy)  |

    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.

  • JNU Crisis

    Commoditisation and the public sphere

    Originally published: Newsclick.in. on March 30, 2018 (more by Newsclick.in.)  |

    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.

  • Under watch.

    Enclosed thinking

    Originally published: The Telegraph (India) on March 16, 2018 (more by The Telegraph (India))  |

    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 possible, in not ‘polluting’ the upper castes through his presence, for otherwise he is likely to be beaten and lynched.

  • The US economy

    Bubbles, stocks and crashes

    Originally published: Peoples Democracy on February 18, 2018 (more by Peoples Democracy)  |

    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.

  • The Battle of Plassey (Palashi, India)

    Marx on imperialism

    Originally published: People's Democracy (Vol. XLI No. 52) on December 24, 2017 (more by People's Democracy (Vol. XLI No. 52))

    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.

  • Enjoy capitalism by any means.

    Neo-liberal capitalism and its crisis

    Originally published: IDEAS on October 24, 2017 (more by IDEAS)  |

    “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.

  • Fascist torch march in Kiev (1/28/2017)

    The current upsurge of fascism

    Originally published: The Telegraph on October 18, 2017 (more by The Telegraph)

    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 movement, and intertwining of fascist movement and corporate capital.

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Also By Prabhat Patnaik in Monthly Review Magazine

  • The Drain of Wealth February 01, 2021
  • Neoliberal Capitalism at a Dead End July 01, 2019
  • The October Revolution and the Survival of Capitalism July 01, 2017
  • <em>Monopoly Capital</em> Then and Now July 01, 2016
  • Capitalism and Its Current Crisis January 01, 2016
  • Imperialism in the Era of Globalization July 01, 2015
  • Capitalism in Asia at the End of the Millennium July 01, 1999

Books By Prabhat Patnaik

  • Capital and Imperialism: Theory, History, and the Present March 10, 2021

Monthly Review Essays

  • The Migrant Genocide: Toward a Third World Analysis of European Class Struggle
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    Over 10,000 people died in transit to Spain in 2024 alone.[1] On June 2022, the border fence of Melilla, one of two Spanish enclaves in Morocco, was witness to a massacre that killed or disappeared over a hundred African migrants.[2]  A recent BBC investigation revealed that Greek border guards systematically repeal immigrants already on Greek […]

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