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Acceptance Speech for the World Marxian Economics Award (III)
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Acceptance Speech for the World Marxian Economics Award (III)
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Acceptance Speech for the World Marxian Economics Award (III)
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Journal Article
Acceptance Speech for the World Marxian Economics Award (III)
2019
Overview
The formative experiences that led me to Marxist political economy were seeing extreme inequality and deprivation around me when growing up in different parts of India, and having easy access to all major Marxist classics at home because my father, an engineer, was interested in Marxism, as were so many of his generation who experienced the Great Depression and the War in their youth. [...]I got the basic points regarding property concentration, class exploitation and class ideology. [...]the state was now spending budgetary resources freely on rural development and on building up an industrial base, and this directly provided employment while also expanding the internal market for basic necessities like food and clothing. The latter represented return on money-capital, but the viability of putting money instead into productive investment in agriculture did not depend solely on the return to such investment exceeding usurious interest rates: the barrier of absolute ground rent also had to be overcome.
