For some time now, some activists in a small collective, mostly from backgrounds in social movements and mass organisations, have been discussing how the work of people's struggle and revolutionary transformation can be taken forward in the Indian context. Out of those they have reached the decision to found a new organisation, tentatively called "New Path", whose goal is to further the revolutionary process in India at its current stage. Below is the draft manifesto, which is being circulated for comments, criticism, suggestions and observations from comrades and friends.
Nearly a hundred and thirty years after his death and 190 years after his birth on May 5, 1818, Karl Marx continues to exert enormous intellectual and practical influence across the world. The socialist future he so confidently predicted has not yet become the global reality that many had hoped it would. The capitalist mode of production that he diagnosed as crisis-prone and doomed to extinction in the course of further historical development dominates the contemporary world. The early attempts at establishing a socialist society have faced exceptionally difficult problems in a predominantly capitalist/imperialist world. Yet, none of these facts can be seen as rendering Marx irrelevant or as diminishing the power and vitality of his theory and vision. Why?
Everybody agrees that capitalism is undergoing a serious crisis, but different people read this crisis differently. The commonest view, held even by progressive economists like Paul Krugman and Joseph Stiglitz, is that the crisis is entirely a consequence of the collapse of the housing ''bubble''; since in this situation of crisis, private expenditure, whether on consumption or on investment, is unlikely to increase in the foreseeable future, a revival is possible only through an increase in State expenditure, which means that both in the United States and in Europe, far from adopting austerity measures, the State should instead be increasing its expenditure. [This article was first published here]
Pragoti presents for its readers the text of sixth Tarakeswar Chakraborti Memorial Lecture delivered by Professor Venkatesh Athreya. The lecture is organised by All India Bank Employee's Association (AIBEA) in tie up with University of Madras.
In the backdrop of the economic crisis which continues unabated in the US and Europe, interest in the work of Karl Marx is witnessing a revival. The three volumes of Capital is Marx’s masterpiece, which contains his political economy critique of capitalism. In order to make sense of what is happening to capitalism today, it is worthwhile to revisit and engage with the issues raised by Capital.
One of the effects of electronic media is the overwhelming need people have for visual gratification. Be it the political class or the civil society, the need to be in the public eye or more accurately in the camera lens seems to dominate over sensible politics.
The game of one up-man ship, serial hunger fasts rapidly turning to hungerfests, the demand for prime time television – all negotiations must be televise -- seems to be overshadowing corruption itself. Corruption certainly needs to be fought and fought now. The question here is whether continuous 24x7 TV coverage is helping a movement against corruption or becoming a substitute?
Leftword has recently republished the three volumes of Capital alongwith a book, Marx's Capital: An Introductory Reader. The reader contains essays by Marxist scholars like Prabhat Patnaik et. al: http://leftword.com/bookdetails.php?BkId=284&type=PB Pragoti is publishing extracts of the essay contributed by Prasenjit Bose to the volume.
Leading macroeconomist and Marxist-Leninist theorist Prabhat Patnaik writes on Contemporary Imperialism.
An animated explanation of the global crisis of capitalism and its various explanatory formats. By David Harvey, eminent social theorist and Marxist.