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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).
  • KeatonPatti / TheDigitalArtist / Emily Cho

    AI and employment

    Originally published: Peoples Democracy on June 23, 2024 (more by Peoples Democracy)  |

    This problem, it must be noted, relates exclusively to the application of AI under capitalist conditions; but, capitalism being the reality over much of the world, the threat of AI to the working people remains extremely serious.

  • The U.S. Is The Biggest Terrorist Organization On Earth

    Global diffusion of production and the concept of imperialism

    Originally published: Peoples Democracy on June 16, 2024 (more by Peoples Democracy)  |

    THERE has been a significant diffusion of production occurring in the world economy. Many call this phenomenon a shift from a U.S.-led world economy to a “multipolar world economy”, but no matter what one thinks of this description, the fact of diffusion is indubitable.

  • 2019 polls: Actionable plan to end corruption, generate jobs discussed with political parties

    What is to be done about unemployment?

    Originally published: Peoples Democracy on June 9, 2024 (more by Peoples Democracy)  |

    A distinction is drawn in economics between demand-constrained systems and resource-constrained systems (which for simplicity and symmetry we shall call supply-constrained systems).

  • BJP

    How BJP masked its class agenda with false religious narrative

    Originally published: NewsClick.in on June 2, 2024 (more by NewsClick.in)  |

    In attacking the wealth tax proposal, the PM whipped up hatred against Muslims, trashed Congress, thereby protecting his super-rich patrons.

  • Protest against Israel's Gaza Blockade and attack on humanitarian flotilla - Melbourne 5 June 2010.

    Chicanery versus humanity

    Originally published: Peoples Democracy on May 19, 2024 (more by Peoples Democracy)  |

     The students in short are moved by a pure sense of humanity.

  • Neoliberalism (Photo credit: Tiago Hoisel)

    The crisis of liberalism

    Originally published: Peoples Democracy on May 12, 2024 (more by Peoples Democracy)  |

    Modern liberalism was developed in response to the Bolshevik Revolution during the capitalist crisis of the inter-war period, as a way of resolving that crisis, and other similar crises that could arise in future, without transcending capitalism.

  • Prime Minister Narendra Modi. Photo: REUTERS/Amit Dave

    On the question of the inheritance tax

    Originally published: Peoples Democracy on May 5, 2024 (more by Peoples Democracy)  |

    The neoliberal years, it is generally agreed, have seen a sharp widening of income and wealth inequalities; in India it has even caused an increase in the extent of absolute deprivation.

  • PM-Kisan Narendra Modi speech and follies on farmers movement junputh.com

    Rural labour in the Modi years

    Originally published: Peoples Democracy on April 28, 2024 (more by Peoples Democracy)  |

    The two phenomena, a reduction in real wages and a reduction in employment opportunities, in fact go together.

  • John Stuart Mill, circa 1870

    Fetishising the growth rate of GDP

    Originally published: Peoples Democracy on April 21, 2024 (more by Peoples Democracy)  |

    JOHN Stuart Mill was among the foremost liberal thinkers of modern times who wrote extensively on economics and philosophy.

  • Reichstag 1933 (Photo: atexnos.gr)

    A striking contrast

    Originally published: Peoples Democracy on April 14, 2024 (more by Peoples Democracy)  |

    Reichstag Fire was a crucial event in the conversion of Germany from a liberal democracy into a fascist dictatorship in 1933.

  • India at 70: Are we becoming a Hindu Rashtra? dailyo.in

    The anatomy of a ‘Hindu Rashtra’

    Originally published: Peoples Democracy on April 7, 2024 (more by Peoples Democracy)  |

    Words can be highly deceptive; and Hindu rashtra is a perfect example of this.

  • Indian Flag

    Once more on poverty figures of India

    Originally published: Peoples Democracy on March 24, 2024 (more by Peoples Democracy)  |

    Poverty in short had increased significantly between 2011-12 and 2017-18. After 2017-18 we have had a pandemic, and a lockdown induced by it, from which the economy is just recovering, though unemployment today is higher than before the pandemic.

  • Summary: Science Museum, London, Transportation zone

    Capitalist trap for scientific advances

    Originally published: Peoples Democracy on March 17, 2024 (more by Peoples Democracy)  |

    There is a paradox at the core of the efflorescence of science that has occurred over the last millennium.

  • Rosa Luxemburg

    The descent into barbarism

    Originally published: Peoples Democracy on February 18, 2024 (more by Peoples Democracy)  |

    IN The Junius Pamphlet written from jail in 1915, Rosa Luxemburg had said that the choice before mankind was between barbarism and socialism.

  • GDP

    What the GDP hides

    Originally published: Peoples Democracy on February 4, 2024 (more by Peoples Democracy)  |

    There are well-known problems associated with the concept of gross domestic product as well as with its measurement.

  • grutas parkas lenin

    The theoretical significance of Lenin’s “Imperialism”

    Originally published: Peoples Democracy on January 21, 2024 (more by Peoples Democracy)  |

    The theoretical position informing “Imperialism” extended Marxism in at least five major ways.

  • Javier Milei. Image Courtesy: Flickr

    Upsurge of neo-fascism and ‘dollarisation’

    Originally published: NewsClick.in on January 6, 2024 (more by NewsClick.in)  |

    Neo-fascist rulers like Javier Milei propose to control inflation not by curbing capital flight, but by launching a massive attack on the working class.

  • Business interests? Hindu bankers 'helped' Company Raj to flourish, colonize India counterview.net

    An education policy for colonizing minds

    Originally published: Peoples Democracy on December 31, 2023 (more by Peoples Democracy)  |

    A pre-requisite for freedom in the third world therefore is to shake off this colonisation of the mind, and to seek truth beyond the distortions of imperialism.

  • New Generation Free Trade Agreements: A Threat to Life and Livelihoods | Focus on the Global South

    The vacuity of the free trade argument

    Originally published: Peoples Democracy on December 24, 2023 (more by Peoples Democracy)  |

    The fact that unrestricted trade creates domestic unemployment is quite obvious, and should be especially obvious to third world people who have had the historical experience of deindustrialisation during colonial rule.

  • A farmer at the protest encampment at Delhi’s Singhu Border carries the flag of the All India Kisan Sabha, 21 November 2021. Subin Dennis / Tricontinental: Institute for Social Research

    Neo-Liberal falsehoods

    Originally published: Peoples Democracy on December 17, 2023 (more by Peoples Democracy)  |

    The basic theme is to suggest that under neo-liberalism there has been such an acceleration of the growth rate of Gross Domestic Product that the people as a whole have become much better off, and vast masses of them have been lifted out of poverty (one particular enthusiast has even claimed that poverty now afflicts only 2 per cent of the population).

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Also By Prabhat Patnaik in Monthly Review Magazine

  • The Worker-Peasant Alliance in the Transition to Socialism Today July 01, 2025
  • 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

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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 […]

Lost & Found

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    Rosy skies are rare: Berlin Bulletin No. 235, July 13, 2025
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