This category contains 58 posts

Pillaging the World

Pillaging the World. The History and Politics of the IMF By Ernst Wolff Global Research, January 02, 2016 The following text is the forward to Ernst Wolff‘s book entitled : Pillaging the World. The History and Politics of the IMF, Tectum Verlag Marburg, 2014, http://www.tectum-verlag.de. The book is available in English and German. No other … Continue reading

Why do we have unemployment?

Why Do We Have Unemployment? by Prabhat Patnaik Unemployment has become so persistent a phenomenon in contemporary times that there is a common feeling that it is a “natural” state of affairs, that nothing can ever be done about it, and that the only way to have greater employment opportunities coming your way is either … Continue reading

Cotton: the Fabric of Death

Cotton: The Fabric of Death by J. Lichtenstein J. Lichtenstein is an Ivy League graduate and former cotton merchant who is now a food service worker in Tennessee struggling to build unity and someday socialism in the lower sector of the multinational working class. Sven Beckert, Empire of Cotton: A Global History (New York: Knopf, … Continue reading

“Universal Health Care” in Free Market Paradise

“Universal Health Care” in Free Market Paradise by Analytical Monthly Review Analytical Monthly Review, published in Kharagpur, West Bengal, India, is a sister edition of Monthly Review. Below is the editorial in its June 2015 issue. — Ed. The essence of “free market” ideology is exposed clearly when the health of the human body is … Continue reading

China Can Ride Out this Crisis

China can ride out this crisis. But we’re on course for another crash Seumas Milne Market mayhem is the product of the aftershocks of 2008. No wonder calls for alternatives are growing Wednesday 26 August 2015 It may not yet be the moment to get in supplies of tinned food. That was what Gordon Brown’s … Continue reading

Europe’s Moment of Truth

Europe’s Moment of Truth by Prabhat Patnaik Greek Premier Alexis Tsipras’ acceptance of an “austerity package” on July 13, which contained measures rejected by the Greek people in a referendum barely a week before, represents not just an abject surrender by the Syriza government, or a sign of contempt on the part of German finance … Continue reading

The Spectre of the Thirties

The Spectre of the Thirties by Prabhat Patnaik The Reserve Bank of India, as is to be expected, has been denying that its governor Raghuram Rajan had ever suggested that the world was facing the possibility of a 1930s-type Great Depression. Members of the “global financial community” are not supposed to say such things; so … Continue reading

Misconceptions about neo-liberalism

Misconceptions about Neo-Liberalism by Prabhat Patnaik Neo-Liberalism is often seen only as an economic policy. This per se might not matter, since a specific set of economic measures do, no doubt, fall under the rubric of neo-liberalism. But by reducing neo-liberalism only to a set of economic measures, a misleading impression is often conveyed that … Continue reading

Nearly Half of Asia is Absolutely Poor :ADB

Nearly half of Asia absolute poor: ADB Khaleeq Kiani BAKU: Putting the infrastructure financing needs of developing Asia at $8 trillion until 2020, the Asian Development Bank (ADB) on Monday announced scaling up its annual operations by 50 per cent to $20 billion for sustainable development of infrastructure to achieve inclusive growth and poverty reduction. … Continue reading

Peasants and Professors

Peasants and professors – Neo-liberalism and the peasantry’s distress Prabhat Patnaik When I first started teaching at the Jawaharlal Nehru University in July 1973, the starting basic salary of an associate professor was Rs 700 per month. Nowadays the starting basic salary of an associate professor in a Central university is about Rs 47,000 per … Continue reading