A 300-year excursion through the history of the global economy (‘International Affairs’ reviews the Patnaiks)
February 20, 2024
Patnaik and Patnaik unpick the realities of capitalism: First, as thriving on exogenous rather than endogenous stimuli––namely colonialism followed by state intervention after the Second World War––thus negating its capacity to be self-contained and perpetual; and second, leading to high unemployment through deindustrialization and land grabs for export crops and property accumulation which push petty producers and peasants into joblessness.