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Articles

Home Articles

Capitalist Trap for Scientific Advances

  • March 18, 2024
  • Prabhat Patnaik
  • Development Economics, Monetary Policy
  • 0 Comments

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…

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Subtle War at the WTO

  • March 7, 2024
  • C. P. Chandrasekhar
  • Trade and balance of payments, World Economy
  • 0 Comments

At the time of writing, the 13th ministerial meet of the World Trade Organisation (WTO) is under way in Abu Dhabi. Among the many issues that are being discussed are two of concern for less developed countries generally and India…

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Federal Fracture: A nation in crisis

  • February 22, 2024
  • C. P. Chandrasekhar
  • Economy and Society, Political Economy
  • 0 Comments

Indian federalism is on the verge of breakdown. Ministers from opposition-ruled States have taken to the streets in New Delhi to protest against discrimination by the Centre. And the Prime Minister, who leads the use of a divisive majoritarian agenda…

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The Descent into Barbarism

  • February 19, 2024
  • Prabhat Patnaik
  • Economy and Society, World Economy
  • 0 Comments

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…

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The Budget and the Inversion of Reason

  • February 12, 2024
  • Prabhat Patnaik
  • Finance, Political Economy
  • 0 Comments

The BJP government holds that truth is what Modi says; if evidence points otherwise then evidence must be wrong and should be suppressed. Modi says that India never had it so good as during the last decade of his government;…

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Distress and Displacement in Times of War

  • February 9, 2024
  • C. P. Chandrasekhar
  • Political Economy, World Economy
  • 0 Comments

Recruitment drives held over the last week of January, in Lucknow in Uttar Pradesh and Rohtak in Haryana, for Indian workers to undertake construction and caregiver jobs in Israel have captured global attention. Thousands of job aspirants, who had either…

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What the GDP Hides

  • February 5, 2024
  • Prabhat Patnaik
  • Finance, Macroeconomics
  • 0 Comments

There are well-known problems associated with the concept of gross domestic product as well as with its measurement. The inclusion of the service sector within GDP is something that Adam Smith would have objected to on the conceptual grounds that…

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The Scourge of Unemployment

  • January 29, 2024
  • Prabhat Patnaik
  • Economy and Society, Employment
  • 0 Comments

The unemployment situation is worse today than it has ever been in post-independence India. There are two distinct elements that have contributed to this situation. One is the fact that the output recovery from the fall caused by the pandemic-linked…

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The IMF and the Argentinian Right

  • January 25, 2024
  • C. P. Chandrasekhar
  • Economy and Society, World Economy
  • 0 Comments

On January 10, the IMF announced its decision to release $4.7 billion out of a $57 billion bailout package sanctioned in 2018 to perennially debt-distressed Argentina, then under a right-wing government headed by Mauricio Macrio. That surprised some. Going by…

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The Theoretical Significance of Lenin’s Imperialism

  • January 22, 2024
  • Prabhat Patnaik
  • Economy and Society, World Economy
  • 0 Comments

The significance of Lenin’s Imperialism lay in the fact that it totally revolutionised the perception of the revolution. Marx and Engels had already visualised the possibility of colonial and dependent countries having revolutions of their own even before the proletarian…

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