Keynes is Dead; Long Live Marx!

by Ismael Hossein-zadeh Many liberal economists envisioned a new dawn of Keynesianism in the 2008 financial meltdown. Nearly six years later, it is clear that the much-hoped-for Keynesian prescriptions are completely ignored. Why? Keynesian economists’ answer: “neoliberal ideology,” which they … Continue reading Keynes is Dead; Long Live Marx!

India and the politics of ‘corruption’

by Anjan Chakrabarti & Anup Dhar Politics begins where the masses are, not where there are thousands, but where there are millions, that is where serious politics begins. — Lenin Think of all the people in Tagore’s Red Oleander, residing perhaps in post-independent India –– who did not have names and were identified as mere numbers, 21F, 79D, 84M, etc. — forming their own party with the assistance of Nandini, the female rebel protagonist (Ranjan — the other rebel protagonist had already been killed by the King) and challenging the King, the Gosain (clergy), the Adhyapak (professor) and a host … Continue reading India and the politics of ‘corruption’

Class and need: Social surplus and Marxian theorization of development

by Anjan Chakrabarti We know that there have been two paths of development, paths that are not always considered complementary to one another. The first and still the dominant path would contemplate economic growth as the basic indicator of capturing the increase in standard of living (either measured as GDP per capita or GDP per worker) which represents development of a nation or region; thus poor and rich countries are differentiated in terms of, say, the level of GDP per capita and resultantly, the path to development of poor countries lie in expanding the latter as fast as possible. High … Continue reading Class and need: Social surplus and Marxian theorization of development