Social Scientist. v 24, no. 278-79 (July-Aug 1996) p. 95.


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REVIEW ARTICLE 95

opportunity international finance capital finds knocking at its door is not because of any positive role it has performed to advance the cause of humanity in the immediately preceding decades. It is the subversion of socialism from within which has refurbished the serendipitous fortunes of neo-imperialism and neo-colonialism. The fact that the concept of independent economic growth is under severe assailment in Third World countries by forces parading under the garb of liberalisation is a development directly relatable to the eclipse of the socialist bloc. An intricate network of inter-relationships is in existence here. Prabhat Patnaik, one hopes, will engage his magnificent mind to explore these basic, deeply disturbing issues.

One feels the urge to mount a further plea. An ideologue does not deviate from faith. He cannot. Is it not time to scribble some notes on why, apart from its triumph in the Cold War, breathtaking technological advances, instead of permitting capitalism to overcome its organic deficiencies, are instead aggravating further the problems of under-consumption and unemployment? Will this failure of the system to achieve a breakthrough lead to the emergence of unresolvable contradictions among the capitalist nations themselves, as well as to intense domestic turmoils, affecting the very base of society, within each capitalist country? Will developments of this nature at a certain juncture impel the countries of capitalism to aim at one another's jugular? How all this will influence the processes of global economic dynamics and the perambulations of international finance capital is a fascinating conundrum Prabhat Patnaik must help us to untangle.

ASHOK MITRA



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