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Political Economy

Home Political Economy

The Current Upsurge of Fascism

  • October 18, 2017
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

There is at present an upsurge of fascism all over the world, though it is often described as “nationalism” or “Right-wing populism”. Such terms however are misleading, and reflect a neo-liberal mindset. The pejorative use of the term “nationalism” serves…

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The Class Content of the Goods and Services Tax

  • October 5, 2017
  • Prabhat Patnaik
  • Macroeconomics, Political Economy
  • 0 Comments

The discussion on the Goods and Services Tax (GST) until now has focused almost exclusively on the distribution of its burden across commodities, on the difficulties of meeting its stringent bureaucratic demands, and on the delays in obtaining claims for…

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Winner-take-all Political Funding

  • September 29, 2017
  • Jayati Ghosh
  • Economy and Society, Political Economy
  • 0 Comments

It’s true: there’s a lot to be outraged about in India these days. The proliferation of heinous occurrences and very problematic policy choices is alarming, and the misinformation spread through official and unofficial media often makes things worse. All this…

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The Epidemic of Vigilantism

  • September 20, 2017
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

My wife and I retired seven years ago after teaching in Jawaharlal Nehru University for nearly four decades, and neither of us gets a pension.The interest on our joint lifetime savings largely sustains us. This entire amount had to be…

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America’s Turn Towards Fascism and Its Contradictions

  • September 4, 2017
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

The fact that fascist elements in the U.S. have started raising their sinister head and that Donald Trump has started showing his open sympathy for such elements is borne out by several recent incidents. On Saturday August 12, at a…

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150 years of ‘Das Kapital’: How relevant is Marx today?

  • August 24, 2017
  • Jayati Ghosh
  • Economy and Society, Political Economy
  • 0 Comments

It is quite amazing that Karl Marx's Capital has survived and been continuously in print for the past century and a half. After all, this big, unwieldy book (more than 2000 pages of small print in three fat volumes) still…

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A Dangerous Analogy

  • August 24, 2017
  • Prabhat Patnaik
  • Macroeconomics, Political Economy
  • 0 Comments

Narendra Modi’s attempt to imitate Jawaharlal Nehru by giving a mid-night speech on July 1 at the Central Hall of parliament, while inaugurating the Goods and Services Tax, could perhaps be passed off as a merely laughable idiosyncrasy. His equating,…

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Imperialism Still Alive and Kicking: An interview with Prabhat Patnaik

  • June 20, 2017
  • C. J. Polychroniou
  • Finance, Political Economy
  • 0 Comments

An interview by C. J. Polychroniou C. J. Polychroniou: From the 1980s onwards, with the process of economic globalization having picked up speed, the concept of Imperialism has been largely removed from the political lexicon of much of the Western…

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Growing class Resistance Against “Globalization”

  • June 19, 2017
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

The term “globalization”, though much used, is extremely misleading, as is its presumed “other”, “nationalism”. This is because both terms are used as blanket terms without any reference to their class content, as if there can be only one kind…

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Why Workers Lose

  • May 30, 2017
  • C. P. Chandrasekhar
  • Economy and Society, Employment, Political Economy
  • 0 Comments

A long-acknowledged feature of global development since the 1970s is that in many countries—advanced and poor—those at the bottom of the income pyramid have benefited little, if at all, from whatever growth has occurred. One empirical outcome of that tendency…

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