But even after slavery was generally abolished, millions of people in the Global South still fell prey to the continuing lethal exigencies of the marketplace.
Even after the Second World War, when decolonization led to the end of the so-called “Golden Age of Capitalism,” neoliberal economies stepped in to reclaim the Global South, imposing drastic “austerity” measures on working people.
But, say the Patnaiks, this neoliberal economy, which lives from bubble to bubble, is doomed to a protracted crisis.
Utsa’s books include The Agrarian Question in the Neoliberal Era and The Republic of Hunger and Other Essays.
Prabhat’s books include Accumulation and Stability Under Capitalism, The Value of Money, and Re-Envisioning Socialism.