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Political Economy

Home Political Economy

Trump’s Protectionism

  • March 26, 2018
  • Prabhat Patnaik
  • Political Economy, Trade and balance of payments
  • 0 Comments

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 percent and tariffs on imported…

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The Importance of Dissatisfaction

  • March 17, 2018
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

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,…

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The UGC Directive on Autonomous Colleges

  • March 12, 2018
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

Higher education in India is facing a twin danger today. One is its commoditization, by which is meant not just the fact that higher education itself is becoming a commodity but also that the products of higher education, i.e. those…

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The Tripura Election Verdict

  • March 7, 2018
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

Two clear conclusions emerge from the Tripura election verdict. First, it is exceedingly difficult for an opposition party that has an incumbent government in any state to withstand the onslaught of the BJP. This party brings to the electoral arena…

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The Destruction of a University

  • February 28, 2018
  • Jayati Ghosh
  • Economy and Society, Political Economy
  • 0 Comments

For more than two years now, Jawaharlal Nehru University in New Delhi has been in a state of turmoil. There is reason to conclude that this turmoil is no accident: it is the result of a set of decisions imposed…

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A Dangerous Period

  • February 16, 2018
  • Prabhat Patnaik
  • Political Economy, World Economy
  • 0 Comments

For over half a century after the second world war, fascism had ceased to be a serious political force anywhere. There were no doubt many authoritarian, even murderous, regimes, and military dictatorships, especially in the third world, often installed through…

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The Problem with the Indian Left

  • December 27, 2017
  • Prabhat Patnaik
  • Political Economy
  • 0 Comments

The current problem with the Indian Left, and in this term I include all sections of the Left, from the so-called “parliamentary Left” to the so-called “revolutionary Left”, is in my view, its lack of appreciation of the dialectics between “reform” and…

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The Obscenity of Hunger Deaths

  • December 22, 2017
  • Jayati Ghosh
  • Economy and Society, Political Economy
  • 0 Comments

There is no doubt that human life is cheap in India, perhaps more so now than ever before. The attacks, atrocities and killings of people from minorities and marginalised groups that have now become so common are particularly appalling because…

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Marx and Naoroji

  • December 20, 2017
  • Prabhat Patnaik
  • Political Economy
  • 0 Comments

In the early 1850s Karl Marx, living in Dean Street in London’s Soho, was working on his opus Capital, of which a preliminary fragment was published in 1859 as A Contribution to the Critique of Political Economy. He had little income, but whatever…

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Economic Recovery or A Statistical Illusion: Some observations on recent estimates of GDP growth

  • December 7, 2017
  • Vikas Rawal
  • Political Economy
  • 0 Comments

On November 30th, the Central Statistical Office (CSO) came out with quarterly estimates of GDP for the second quarter (June to Sep) of 2017. Predictably, analysts and spokespersons of the government spent the evening in newsrooms of various TV channels…

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