True freedom requires transcending capitalism, says Prabhat Patnaik

Capitalism cannot guarantee idiosyncratic state due to the fact that each agents enactment nether systemic compulsion. True state requires transcending capitalism, by creating a strategy based connected corporate ownership and genuine cooperation, escaped from economical coercion and alienation, said Marxian economist and governmental commentator Prabhat Patnaik.

Participating successful a treatment connected “Beyond Liberalism”, his latest publication that offers a Marxist critique of liberalism successful Vijayawada connected Friday, the erstwhile prof of Economics asserted that socialism, nether which communal ownership of the means of accumulation is possible, is frankincense the lone model wherever existent idiosyncratic state tin exist.

He said fixed the existent day’s situation of neoliberal capitalism and suppression of state worldwide, the request for corporate enactment and socialist translation was urgent. He said his publication challenges 2 communal wide propositions — that liberalism values idiosyncratic freedom, portion Marxism does not, and that capitalism ensures idiosyncratic freedom, whereas socialism suppresses it.

“Both claims are false,” helium argued, stating that Marxism is profoundly acrophobic with idiosyncratic freedom, and genuine state tin lone beryllium achieved nether socialism, not capitalism.”

Mr. Patnaik, who taught astatine the Centre for Economic Studies and Planning successful the School of Social Sciences astatine Jawaharlal Nehru University successful New Delhi, spoke astir the Marxist presumption of the Individual nether capitalism. He said individuals nether capitalism bash not enactment freely; they are driven by systemic compulsion and competition. He said capitalism depends connected a “reserve service of labour” (the unemployed) to subject workers done the “threat of occupation loss”. This creates ‘economic coercion’, arsenic accumulation requires strict coordination without carnal unit but nether the fearfulness of unemployment. “Hence, individuals, including capitalists, are ‘alienated and unfree’, compelled to enactment by marketplace forces,” helium said.