Poverty is taken to be a homogeneous phenomenon irrespective of the mode of production that is under consideration. Even reputed economists believe in this homogeneous conception of poverty. In fact, however, poverty under capitalism is entirely different from poverty in…
The fundamental issue raised by Hollywood writers when they had gone on a strike against being replaced by artificial intelligence, somehow receded to the background after the resolution of that particular conflict; but it remains a fundamental issue. Much has…
There has been a significant diffusion of production occurring in the world economy. Many call this phenomenon a shift from a US-led world economy to a “multipolar world economy”, but no matter what one thinks of this description, the fact…
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). In the former, an increase in output can occur if there is a rise in aggregate demand without…
The current protests in US university campuses demanding “divestment” from firms linked to Israel’s military machine, are reminiscent of the protests that had swept these campuses in the late sixties and early seventies demanding an end to the Vietnam war.…
Each strand of political praxis is informed by a political philosophy which analyses the world around us, especially, in modern times, its economic characteristics. On the basis of this analysis, the particular political philosophy sets out the objectives which have…
John Stuart Mill was among the foremost liberal thinkers of modern times who wrote extensively on economics and philosophy. Though under the influence of his wife Harriet Taylor Mill, he came closer towards socialism late in his life, it was…
The other day the Chief Executive Officer of Niti Ayog made a fantastic claim, that the poverty ratio in India had fallen below 5 percent according to the 2022-23 consumption expenditure survey data. His claim was based on the fact…
There is a paradox at the core of the efflorescence of science that has occurred over the last millennium. In essence this efflorescence has the potential to increase human freedom immensely. It increases the capacity of man within the man-nature dialectic; scientific…
In The Junius Pamphlet written from jail in 1915, Rosa Luxemburg had said that the choice before mankind was between barbarism and socialism. Liberal opinion would contest this, arguing that the barbarism that marked the two world wars and the…
