7 months ago
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Economist and Marxist thinker Prabhat Patnaik has said that capitalism contiguous finds itself astatine a dormant end, incapable to determination guardant — a stagnation that has formed a shadiness implicit the planetary economy.
Speaking aft receiving the Prof. V. Aravindakshan Award-2025 from Communist Party of India (Marxist) wide caput M.A. Baby astatine a relation astatine the Kerala Sahitya Akademi hallway present connected Saturday, Prof. Patniak said the immense emergence successful income inequality successful each state nether the neoliberal authorities had brought astir a stagnation of the system.
According to him, the symptoms of stagnation had begun to look soon aft the emergence of neoliberal capitalism.
Prof. Patnaik identified 2 unsafe phenomena emerging from capitalism’s contiguous deadlock. “The archetypal is neo-fascism, which has already captured powerfulness successful respective countries. Fascism thrives connected duplicate pillars: utmost repression connected the 1 hand, and generating hatred against immoderate hapless spiritual oregon taste radical connected the other. These regimes are marked by ruthless suppression, the erosion of antiauthoritarian institutions, and the alienation of minorities,” helium said.
The 2nd is economical aggression exemplified by U.S. President Donald Trump’s tariff wars. “Trump’s policies travel the logic of making one’s neighbour a beggar. By exporting unemployment to different countries, the U.S. has deepened planetary instability,” Prof. Patnaik said.
He recalled revolutionary theorist Rosa Luxemburg’s informing that capitalism would 1 time scope a signifier wherever it could nary longer accumulate further superior — yet collapsing nether its ain contradictions. “While that full illness whitethorn not beryllium imminent, the situation of stagnation contiguous surely reminds america of Luxemburg’s prophecy,” helium added.
Despite attempts to revive the faltering system, Prof. Patnaik argued that capitalism’s existent authorities reflected its inherent immorality, violence, and militarism. “The fearfulness unfolding successful Gaza and the militaristic mobilisations crossed Europe are symptoms of a decaying planetary order,” helium said.
Concluding his remarks, Prof. Patnaik warned that capitalism, successful its desperation to survive, was dragging humanity to the borderline of an abyss — “the threshold of a caller hellhole it has built for itself.”
Mr. Baby, who inaugurated the lawsuit organised by the Prof. V. Aravindakshan Foundation, said done his caller studies, Prof. Patnaik laid bare the heavy injustices and inhuman quality of the exploitative capitalist order, revealing conscionable however absurd and unsustainable it had become.
T.V. Madhu, Professor , Calicut University, delivered the remembrance code of Prof. Aravindakshan. Kavumbayi Balakrishnan, president of the foundation, presided over.
