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Prominent economist Prabhat Patnaik talking at a gathering in Vijayawada. | Photo Credit: HANDOUT
Participating in a dialogue on “Beyond Liberalism”, his newest guide that provides a Marxist critique of liberalism in Vijayawada on Friday, the previous professor of Economics asserted that socialism, below which widespread possession of the technique of manufacturing is feasible, is thus the one framework the place actual particular person freedom can exist.
He stated given the present day’s disaster of neoliberal capitalism and suppression of freedom worldwide, the necessity for collective motion and socialist transformation was pressing. He stated his guide challenges two widespread liberal propositions — that liberalism values particular person freedom, whereas Marxism doesn’t, and that capitalism ensures particular person freedom, whereas socialism suppresses it.
“Both claims are false,” he argued, stating that Marxism is deeply involved with particular person freedom, and real freedom can solely be achieved below socialism, not capitalism.”
Mr. Patnaik, who taught on the Centre for Economic Studies and Planning within the School of Social Sciences at Jawaharlal Nehru University in New Delhi, spoke concerning the Marxist view of the Individual below capitalism. He stated people below capitalism don’t act freely; they’re pushed by systemic compulsion and competitors. He stated capitalism is dependent upon a “reserve military of labour” (the unemployed) to self-discipline employees by means of the “menace of job loss”. This creates ‘financial coercion’, as manufacturing requires strict coordination with out bodily pressure however below the worry of unemployment. “Hence, people, together with capitalists, are ‘alienated and unfree’, compelled to behave by market forces,” he stated.
Published – October 25, 2025 03:32 pm IST
