The trouble is already there to see. Imagine an economy consisting of a single firm which has bought means of production and labour power for a total of $100, in order to produce a mass of commodities it intends to sell for $110, i.e. at a profit of 10 per cent. The problem is that the firm’s suppliers of constant and variable capital are also its only potential customers. Even if the would-be buyers pool their funds, they have only their $100 to spend, and no more. Production of the total supply of commodities exceeds the monetarily effective demand in the system. As Harvey explains in The Limits to Capital, effective demand ‘is at any one point equal to C+V, whereas the value of the total output is C+V+S. Under conditions of equilibrium, this still leaves us with the problem of where the demand for S, the surplus value produced but not yet realised through exchange, comes from.’ An extra $10 in value must be found somewhere, to be exchanged with the firm if it is to realise its desired profit.
Continue reading “Why Capitalism has, and survives crisis”
A different but related issue is the apparent movement of reading itself from a primarily solitary to a largely social activity, a change that is not inherent in the new technologies but one that the internet and e-books certainly facilitates. I do think it’s true that the historical moment we live in is experiencing a major shift in intellectual production and distribution on par with the invention of the printing press, but the technology is not the most important element of that shift. More than technological changes, more even than changes in how we write, I think the possibility of fundamental changes in how we read is the biggest issue on the table. And here I’m more conservative, because I feel strongly that the gradual loss of the contemplative space of solitary reading—if it ever comes to that, and whether or not the e-book plays some role in it—would be an enormous loss to the experience of being human.
It’s easier on the liberal conscience to believe that the war in the forests is a war between the Government of India and the Maoists, who call elections a sham, Parliament a pigsty and have openly declared their intention to overthrow the Indian State. It’s convenient to forget that tribal people in Central India have a history of resistance that predates Mao by centuries. (That’s a truism of course. If they didn’t, they wouldn’t exist.) The Ho, the Oraon, the Kols, the Santhals, the Mundas and the Gonds have all rebelled several times, against the British, against zamindars and moneylenders. The rebellions were cruelly crushed, many thousands killed, but the people were never conquered.
Continue reading “A Rendezvous with the Maoists, and other links”
In any modernized country, the backward-looking party will always tend toward resentment and grievance. The key is to keep the conservatives feeling that they are an alternative party of modernity. (This was Disraeli’s great achievement, as it was, much later, de Gaulle’s.) When the conservative party comes to see itself as unfairly marginalized, it becomes a party of pure reaction…
This picture was taken from the top of the Empire State Building in 1997. The Statue of Liberty is at the center of the picture.
I was also lucky to meet an old comrade, Dr Harjinder Singh Laltu few weeks back, and read his delightful collection of Hindi short stories, Ghugni
A few selected articles from online reading:
Why many Ambedkar statues in India?
Chavez’s gift to Obama: seems Chavez gifted him Lenin’s What is to be done?
How Chavez snubbed Mario Vargas llosa
Aren’t OBC women also women? at Kafila
Finally, if you not following that excellent blog India Chronicles, you are missing something !
achcha hai dil ke saath rahe paasbaan-e-akl
lekin kabhi- kabhi ise tanha bhi chod de
auron ka payam aur mera payam aur hai
ishk ke dard- mandon ka tarz e kalaam aur hai
akl kya cheez hai aik waza ki pabandi hai
dil ko muddat hui is kaid se azad kiya