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The Prospect of Food Shortage
09 April, 2018, Prabhat Patnaik
Contrary to the fears of orthodox economics, persistent and even growing hunger in the world today arises not due to “excessive population” but due to the social arrangement; not because there is too little output relative to population but because there is too little demand relative to output.
Trump's Protectionism
26 March, 2018, Prabhat Patnaik
Trumps' announcement of tariff hike tantamount to a beggar-thy-neighbor policy that would inevitably attract retaliation. But these current protectionist measures on capital-in-production do not in any way restrict capital-as-finance. They are just desperate and counter-productive attempts at coping with a crisis, which is itself an outcome of the process of globalization of finance.
The Importance of Dissatisfaction
17 March, 2018, Prabhat Patnaik
The first step to overthrowing an oppressive system is “epistemic exteriority” or visualizing an alternative system outside of the existing one. But neo-liberal capitalism has been remarkably successful in thwarting such visualization, by proposing “epistemic closure” as an essential component of development.
Bubbles, Stocks and Crashes
21 February, 2018, Prabhat Patnaik
What the current U.S. experience shows is not only the role of bubbles in sustaining the level of activity under a neo-liberal regime, and hence the fact that the lives of millions depend upon the whims of a bunch of speculators, but also the completely evanescent and short-lived character of the booms in this period.
A Dangerous Period
16 February, 2018, Prabhat Patnaik
Contemporary Fascism around the world is emerging as neo-liberal capitalism’s “gift” to mankind in the period of its maturity, when it submerges the world economy in a crisis, and reaches a dead-end from which there is no obvious escape.
The Dramatic Rise in Wealth Inequality
25 January, 2018, Prabhat Patnaik
Notwithstanding the statistical difficulties associated with the estimates of wealth distribution, there is no gainsaying the fact that something extremely serious for our democracy and freedom is occurring through the extraordinary rise in wealth inequality, as a result of the pursuit of unrestrained neo-liberal economic policies by the present government.
Moody's Upgrade
20 November, 2017, Prabhat Patnaik
The slight upgrade of India’s credit worthiness by Moody, that equates finance with nation, is being celebrated by the media as a mark of Modi’s success, but the criteria it has used to judge are in actuality open assaults by the government on the working population. To transcend such neo-liberal capitalism, the wrongness of this criteria must be understood first.
Neo-Liberal Capitalism and its Crisis
24 October, 2017, Prabhat Patnaik
Neo-liberal capitalism is marked by the hegemony of international finance capital which has many consequences, among which is the alarming upsurge of fascism, differing markedly from the fascism of the 1930s.
Growing class resistance against "Globalization"
19 June, 2017, Prabhat Patnaik
Universal non-class use of the term “globalisation” and its “other” “nationalism” by the bourgeoisie has enabled them to show the former as progressive and latter reactionary for all classes. But recent election results in major countries reflect the rise of resistance of the worker class against the hegemony of “globalised” finance capital everywhere. Even in India, for the first time in three decades, anti-labour policies are being challenged by strong peasant movements in many states.
Neo-Liberal Capitalism and India's Nationhood'
30 January, 2017, Prabhat Patnaik
The era of neo-liberalism has seen a retrogression when it comes to the material pre-requisites for the nation-building project that had been launched with the anti-colonial struggle.
Neo-Liberal Capitalism and India's Nationhood
30 January, 2017, Prabhat Patnaik
The era of neo-liberalism has seen a retrogression when it comes to the material pre-requisites for the nation-building project that had been launched with the anti-colonial struggle.
Focus on Inequality
18 October, 2016, Prabhat Patnaik
While in its publication tracking progress towards poverty removal and curtailment of inequality, the World Bank expresses optimism over the fact that two-thirds of the countries it examined showed a positive shared prosperity premium, the author here explains why this optimism is misplaced.

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