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Author: Prabhat Patnaik

Home Prabhat Patnaik
This author has written 375 articles

Destitution, Hunger and the Lockdown

  • May 24, 2021
  • Prabhat Patnaik
  • Economy and Society
  • 0 Comments

On March 24, 2020, Narendra Modi had announced that the country would go into a lockdown after four hours! This nation-wide lockdown was to last till the end of May, after which there were local lockdowns but not a general…

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Patents versus the People

  • May 17, 2021
  • Prabhat Patnaik
  • Macroeconomics
  • 0 Comments

On October 2, 2020, even before any vaccines against Covid-19 had been approved, India and South Africa had proposed to the WTO that a temporary patent waiver should be granted on all such innovations. In the following months, 100 countries…

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For Free Universal Vaccination Against Covid-19

  • May 10, 2021
  • Prabhat Patnaik
  • Macroeconomics
  • 0 Comments

Of all the decisions taken by the Modi government the most mindless has been the so-called “liberalization” of vaccine distribution. Originally, the central government was the sole buyer from the two producing firms at a fixed price of Rs.150 per…

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The Scandal of Covid-vaccine Pricing

  • May 3, 2021
  • Prabhat Patnaik
  • Macroeconomics
  • 0 Comments

When the country is grappling with the worst health crisis it has faced in a century, the Covid-vaccine producers have decided to seize the opportunity to go on a profiteering spree, taking advantage of the Modi government’s  incompetence or complicity…

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The Resurgence of Inflation

  • April 26, 2021
  • Prabhat Patnaik
  • Macroeconomics
  • 0 Comments

The official wholesale price index for March 2021, which was released a few days ago shows it to be 7.39 per cent higher than for March 2020. Such a high rate of inflation has not been seen in India for…

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Biden’s Package and Its Pitfalls

  • April 19, 2021
  • Prabhat Patnaik
  • Finance, Macroeconomics
  • 0 Comments

U.S. President Joe Biden’s $1.9 trillion rescue package is one of the most ambitious measures to revive the U.S. and, with it, the world economy. Coming on the heels of Trump’s $2 trillion package last year and a further $900…

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Ruling Classes and Concern for the Poor

  • April 12, 2021
  • Prabhat Patnaik
  • Political Economy
  • 0 Comments

When Elizabeth Warren a contender for American presidentship had proposed a progressive wealth tax during her campaign for Democratic Party nomination, 18 American billionaires had come out in support of her proposal; one cannot recall or even imagine any comparable…

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Fiscal Policy in a Bind

  • March 15, 2021
  • Prabhat Patnaik
  • Macroeconomics
  • 0 Comments

Even the blinkered BJP government sees the need for a fiscal policy that would stimulate the economy by increasing government expenditure; but it finds itself in a bind since it does not know how to finance such larger government expenditure.…

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Reviving the Economy through Incantations

  • February 10, 2021
  • Prabhat Patnaik
  • Finance
  • 0 Comments

Voltaire had said “one can always kill a man with incantations, plus a little poison”. Voltaire was a rationalist which the BJP government alas is not. It believes that one can revive an economy with incantations alone, for that is…

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Biden’s Rescue Package

  • February 1, 2021
  • Prabhat Patnaik
  • Political Economy
  • 0 Comments

Even before taking office, Jo Biden, the new American president, has announced a rescue package of $1.9 trillion, of which as much as $1 trillion will be in the form simply of transfers to the working people. Since the estimated…

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