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Political Economy

Home Political Economy

The Dangers of Centralisation

  • February 3, 2025
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

Well-known Marxist scholar, the late Amalendu Guha, had argued persuasively that in modern India there co-existed in the minds of the people a dual national consciousness: a local, regional-linguistic nationality consciousness, of being a Bengali, or a Tamil, or a…

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From Export led to Consumption-led Growth?

  • January 27, 2025
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

A CHORUS of “establishment” voices, from consultancy firms to the financial press, has been demanding a boost to domestic consumption as a means of reviving the flagging growth rate of the Indian economy. The latest to join this chorus is…

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The Crisis of Liberalism

  • November 18, 2024
  • Prabhat Patnaik
  • Political Economy
  • 0 Comments

Trump’s victory in the US Presidential election conforms to a pattern presently observable across the world, namely a collapse of the liberal centre and a growth in support either for the Left, or for the extreme Right, the neo-fascists, in…

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The Kazan Summit of BRICS

  • November 11, 2024
  • Prabhat Patnaik
  • Political Economy, World Economy
  • 0 Comments

The Kazan summit of the BRICS countries was a historic one for several reasons: first, it created a new category called “partner nations” as a step towards full membership, and accepted 13 such new “partner” countries, among whom were Cuba…

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Household Debt Stress: Fear in the “Good Times”

  • October 1, 2024
  • C. P. Chandrasekhar and Jayati Ghosh
  • Finance, Political Economy
  • 0 Comments

The financial media in India and abroad are flagging the likelihood of a meltdown in India’s financial sector, resulting from large scale defaults on personal loans. Even the Financial Times of London has chosen to devote considerable column space to an article…

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The Bizarre State of Western Democracy

  • September 9, 2024
  • Prabhat Patnaik
  • Political Economy, World Economy
  • 0 Comments

During the entire post-war period when it has been in existence in the metropolitan countries, democracy has never been in as bizarre a state as it is today. Democracy is supposed to mean the pursuit of policies that are in…

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The Criminality of Unilateral Sanctions

  • September 2, 2024
  • Prabhat Patnaik
  • Political Economy, World Economy
  • 0 Comments

During Modi’s visit to Ukraine (why he visited Ukraine at all at the present time remains a mystery), Zelensky asked India not to purchase fuel from Russia in violation of western sanctions, that is, to fall in line with the…

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The Ecommerce U-turn

  • September 1, 2024
  • C. P. Chandrasekhar
  • Industry, Political Economy
  • 0 Comments

Recently Congress President Mallikarjun Kharge quipped that the ‘U’ in UPS (Unified Pension Scheme) stands for U-Turn. While that may be seen as stretching interpretative liberty, he was touching a raw nerve. Whether it be lateral entry into the civil…

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The Transient “Miracles”

  • August 26, 2024
  • Prabhat Patnaik
  • Political Economy, World Economy
  • 0 Comments

A Good deal of analysis of the recent political upheaval in Bangladesh has focussed on the high-handedness and authoritarianism of Sheikh Hasina’s government; it has either missed altogether, or generally underplayed, the change that has occurred in the economic situation…

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From protests and suspensions to Noam Chomsky: The decline of South Asian University

  • August 22, 2024
  • Jayati Ghosh
  • Economy and Society, Political Economy
  • 0 Comments

The latest controversy in the South Asian University, over an interview with a philosopher mentioned in a student’s research proposal that resulted in severe backlash and eventual resignation of an eminent foreign professor, would appear to be ludicrous if it…

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