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Political Economy

Home Political Economy

The Question of Pensions

  • January 15, 2024
  • Prabhat Patnaik
  • Finance, Political Economy
  • 0 Comments

We observe a strange phenomenon everyday, so strange that its strangeness goes generally unnoticed. Government spokespersons from the prime minister downwards go on repeating ad nauseam that India is the most rapidly growing major economy in the world today, that…

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An Education Policy for Colonising Minds

  • January 1, 2024
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

Imperialist hegemony over the third world is exercised not just through arms and economic might but also through the hegemony of ideas, by making the victims see the world the way imperialism wants them to see it. A pre-requisite for…

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The Vacuity of the Free Trade Argument

  • December 25, 2023
  • Prabhat Patnaik
  • Political Economy, Trade and balance of payments
  • 0 Comments

Imagine a country that is exposed to relatively unrestricted trade. There are two obvious problems that it can face because of this trade policy: the first is a balance of payments problem because its exports are insufficient relative to its…

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The Pervasiveness of Poverty in India

  • November 27, 2023
  • Prabhat Patnaik
  • Finance, Political Economy
  • 0 Comments

One of the striking findings of the Bihar Caste Survey, which bears out what the Left has been asserting for a long time, is that absolute poverty in the country is far more pervasive than what successive governments in India…

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The Growing Crisis of Unemployment

  • November 13, 2023
  • Prabhat Patnaik
  • Employment, Political Economy
  • 0 Comments

In an economy like ours where the work-force is not neatly divided into “the employed” and “the unemployed”, and instead there is massive and growing casualisation of work, measuring unemployment is a tricky business. It necessarily means asking a person…

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Fascistic Hostility to Evidence

  • October 30, 2023
  • Prabhat Patnaik
  • Economy and Society, Political Economy
  • 0 Comments

All fascistic outfits have one common characteristic: they reject outright all evidence that goes against the narrative they spin; and the Hindutva elements in power in India are no exception. Their narrative presents India as the fastest growing economy in…

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When Numbers are Treated as Political Weapons

  • October 19, 2023
  • Jayati Ghosh
  • Economy and Society, Political Economy
  • 0 Comments

India has a robust and admired statistical system. But the government is suppressing data to suit its narrative. It is perilous not to know the reality of the governed No government in India has been as adept in shaping the…

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Globalised Capital and National Leadership

  • October 9, 2023
  • Prabhat Patnaik
  • Political Economy, World Economy
  • 0 Comments

One of the most intriguing questions at present is why Europe’s political leadership has become complicit in what appear to be US efforts at undermining European economies. The well-known American investigative journalist Seymour Hersh, having already provided evidence that the…

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Destroying Forests for Profits

  • October 2, 2023
  • Prabhat Patnaik
  • Food and Agriculture, Political Economy
  • 0 Comments

The Modi government, ever solicitous of corporate interests, has launched a plan whereby real estate developers and other corporates will be allowed to destroy large swathes of India’s forest cover for starting projects that rake in profits. It is amending…

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The Silences of the Delhi Declaration

  • September 18, 2023
  • Prabhat Patnaik
  • Political Economy
  • 0 Comments

The G-20 meeting in Delhi was occurring in the midst of an acute economic crisis of the world economy. The advanced capitalist economies are expected by the IMF to witness a growth slowdown from 2.7 per cent in 2022 to…

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