For years, the loss of land and livelihood has been upheld as the sacrifice people would have to make in order to get jobs and money later on. It does not seem to matter that any sort of prosperity has failed to trickle down to the people till date, barring those few who get to fatten their pockets.

The discussions and debates that have accompanied the 200th anniversary of Karl Marx’s birth since 2018 have provided an important opportunity to re-examine heretofore neglected aspects of his political and philosophical legacy. Foremost among them is the extent to which his body of work provides conceptual resources for developing a viable emancipatory to capitalism in the 21st century.

On 31 July, the United States Federal Reserve System (U.S. Fed) announced its decision to cut its benchmark short-term interest rate by one quarter of a percentage point to a target range between 2% and 2.25%. It also announced that it would put an end to its policy of selling chunks of its holdings of securities, so as to unwind its bloated balance sheet.

“Proletarians [Proletarier] of all countries, unite!” It is with these ringing words that Karl Marx and Friedrich Engels famously conclude their Communist Manifesto in 1848 (MECW 6: 519; MEW 4: 493, sometimes my translation).