India was NEVER a socialist country! Socialism is providing basic services and resources to all its citizens not just the wealthy. India has never provided health care education food electricity clean water fair judicial system. India from 1960-1990 was run for the benefit of one family and the criminals around them. India even today, especially northern Ganges river belt rivals sub Saharan Africa for human development.
Socialism is beyond that. It is a new social system. Even Soviet Union was not a socialist state. You cannot build a socialist nation in a country inside a sea of capitalism.
Thanks for good analytic information. I feel we should always think of linking NREG scheme to tag to farmingfor more productive purpose which boosts farmer economy
This answers lot many question of current debate of FED resolving the inflation through interest rate hike. It also helps to understand the dynamic in which we are facing shifts in income structure and what can be the outcome from that for future changes. Thankyou for wonderful discussion. Watched full length !
could u please explain 1) what r the material reason for a "crisis" in India's economy BEFORE the early ,mid 1970s when indira regime "had to" take loans and adopted a little bit of international right wing economic policies(i know it's not to the extent of 1980s ,90s) ? 2) why then after that little bit of "relaxation" of the market( in a capitalistic sense) in the 70s as u have shown in the graph that the share of the nation's wealth where the 1 % had only 6 percent of it until 1981 , why the rich had such lower % if the market was in the process of stepping in to neo liberalization moving state capitalism,nehruivian socialism? 3) what is the material difference and impact it had on working class and the capitalist in india and the petite bougeois(which in this video u calling them "middle class") in 1980s liberalisation/"adjustment in the market" by advice foreign western agencies/insitutions VS 1990s era of neo liberalisation in india?
Great talk but the host should have been more articulate while questioning and should have allowed Professor Pattnaik to speak more instead of always adding his own opinions to each topic
People devoid of logic are going against him in the comment section, for they don't have the merit to argue with him. It's easy to understand why the capitalists are trying to subside the discussion labelling it as bogus.
Absolutely Brilliant Discussion Reminded me of Professor Arun Kumar Unemployment to control inflation, Churchils defeat and imf intervention were enlightening points Thanks for gracing us wid such Brilliant individual on ur show...
Hindutva forces in the first 2 minutes. Lol, how come hindutva came in an economics debate. Isn't this enough to say this guy is biased. I am open about listening to different opinions of our economic policies but I can't do that now.
had you studied a bit about the relationship between fascism and neoliberal economics you wouldn't have been so surprised. but as aunindyo says at the very first, you are uneducated.
@@sancharipal8449fascism lol You people don't even know what is fascism If you don't like people in power that is not fascism. Neoliberalism has its own flaws but much better than already proved failure ideologies
Economics doesn't exist in a single sphere na, a lot of social factors do contribute to the economy and the communal Hindu angle does contribute to the current econmy. There is nothing as "zero bias", please grow up.
left is to want socialism as ameans of production,if not then its not left ,its right wing with leftist aesthetics on some economic issues,fully in social issues there is no far left or mild left
@@TheGrimStoic A society that has lifted and is lifting millions of people from poverty and selection in higher posts via meritocracy in individual fields is not democracy right? A society where the govt doesn't spare billionaires even when they commit crimes A society almost free of racism HOOMAN RAAEETS Term developed by USA to attack small countries so it has much lost its significance
don't underestimate them - lula got elected in brazil due no small part to indian comrades embedded in his campaign. Whoever is driven by hatred is always dangerous - be it ISIS or Urban Naxals
And helped Adani increase his wealth from $6.5 billion to $223 billion while the poor are still poor. You don't need to support socialism. At least understand what is beneficial to a larger section of people instead of being beneficial to only a handful of people who control us. 😂
Wonderful...talk..pattnaik sir has wealth of knowledge
Great discussion
Thank you NewsClick for having invited Prof Prabhat Patnaik for this discussion.
I’m sure none of the present Indian right wing will understand so deeply about the history of the economics and the present crisis and its solutions
yes coz the country is running by itself.
India was NEVER a socialist country! Socialism is providing basic services and resources to all its citizens not just the wealthy. India has never provided health care education food electricity clean water fair judicial system. India from 1960-1990 was run for the benefit of one family and the criminals around them. India even today, especially northern Ganges river belt rivals sub Saharan Africa for human development.
1000% true
India never had the material conditions for socialism BUT
Nehru strived to create one
Socialism is beyond that. It is a new social system. Even Soviet Union was not a socialist state. You cannot build a socialist nation in a country inside a sea of capitalism.
Very good discussion. Thanks News Click I want to see some more videos on this topic.
Excellent Presentation
It is good channel
Thanks for good analytic information. I feel we should always think of linking NREG scheme to tag to farmingfor more productive purpose which boosts farmer economy
Great pleasure
Having middle class relatives, I am often met with a "we are against freebies" argument...
This answers lot many question of current debate of FED resolving the inflation through interest rate hike. It also helps to understand the dynamic in which we are facing shifts in income structure and what can be the outcome from that for future changes. Thankyou for wonderful discussion. Watched full length !
could u please explain
1) what r the material reason for a "crisis" in India's economy BEFORE the early ,mid 1970s when indira regime "had to" take loans and adopted a little bit of international right wing economic policies(i know it's not to the extent of 1980s ,90s) ?
2) why then after that little bit of "relaxation" of the market( in a capitalistic sense) in the 70s as u have shown in the graph that the share of the nation's wealth where the 1 % had only 6 percent of it until 1981 , why the rich had such lower % if the market was in the process of stepping in to neo liberalization moving state capitalism,nehruivian socialism?
3) what is the material difference and impact it had on working class and the capitalist in india
and the petite bougeois(which in this video u calling them "middle class") in 1980s liberalisation/"adjustment in the market" by advice foreign western agencies/insitutions
VS 1990s era of neo liberalisation in india?
Top 1% Indians today own 40% wealth, per Oxfam.
Its abt 73% IG
@@chosoninmingunmanse1953 That's top 10% who own 73%. And top 5% own 63%. So, even at the top there's heavy inequality.
@@megakeenbeen yeah thats the gist of the story.
@Gaurav Singh it's not hard work. It's theft.
@@megakeenbeen Theft, how?
Great talk , so insightful
Great talk but the host should have been more articulate while questioning and should have allowed Professor Pattnaik to speak more instead of always adding his own opinions to each topic
Yeah, that was extremely annoying.
Very good conversation, but it should be in hindi.... so general people of UP and bihaar could understand
👌👌👌🙏👏
People devoid of logic are going against him in the comment section, for they don't have the merit to argue with him. It's easy to understand why the capitalists are trying to subside the discussion labelling it as bogus.
Absolutely Brilliant Discussion
Reminded me of Professor Arun Kumar
Unemployment to control inflation, Churchils defeat and imf intervention were enlightening points
Thanks for gracing us wid such Brilliant individual on ur show...
Voice is too low. Quite difficult to hear this worthful conversation.
hahaha...dreaming about labour action and wage growth in an overpopulated country when automation is going to take away more and more jobs.
Hindutva forces in the first 2 minutes.
Lol, how come hindutva came in an economics debate.
Isn't this enough to say this guy is biased.
I am open about listening to different opinions of our economic policies but I can't do that now.
had you studied a bit about the relationship between fascism and neoliberal economics you wouldn't have been so surprised. but as aunindyo says at the very first, you are uneducated.
@@sancharipal8449fascism lol
You people don't even know what is fascism
If you don't like people in power that is not fascism.
Neoliberalism has its own flaws but much better than already proved failure ideologies
Everyone is biased .. Some are more direct about it
Lol fascism is the viral reaction of capitalism that's why
Economics doesn't exist in a single sphere na, a lot of social factors do contribute to the economy and the communal Hindu angle does contribute to the current econmy.
There is nothing as "zero bias", please grow up.
😂😂😂😂 socialist crying on RUclips now with small viewer who are also abusing them😂😂😂
He does not know any economics.
Sometimes, I feel as if this channel is the far left on steroids.
left is to want socialism as ameans of production,if not then its not left ,its right wing with leftist aesthetics on some economic issues,fully in social issues
there is no far left or mild left
It is. They never discarded their political leanings.
Still in the orange scums??
What do you mean sometimes - gajab beijjati hai meme
They keep on talking about socialism, where are they going to get the money for that.?
from the same hole they get their snuff powder from - jab hona hi nahin to phenkne mein kya harz hai
Absolute bogus!
Just like the existence of India as a developing and ethical society???
@@chosoninmingunmanse1953 want socialism in developing nation then go to North Korea.
@@chosoninmingunmanse1953 no - like existance of china as the best example of democracy, ustice and human rights
@@TheGrimStoic
A society that has lifted and is lifting millions of people from poverty and selection in higher posts via meritocracy in individual fields is not democracy right?
A society where the govt doesn't spare billionaires even when they commit crimes
A society almost free of racism
HOOMAN RAAEETS
Term developed by USA to attack small countries so it has much lost its significance
In short
Democracy is good👍👍👍
Indian version of democracy is cesspit,outdated
Thank God Modi Kicked out these socialist into dustbin.
Thank God India will be a future US colony until China intervenes.
@@chosoninmingunmanse1953 socialist cancer this program is running in a capitalist product you tube.
don't underestimate them - lula got elected in brazil due no small part to indian comrades embedded in his campaign.
Whoever is driven by hatred is always dangerous - be it ISIS or Urban Naxals
And helped Adani increase his wealth from $6.5 billion to $223 billion while the poor are still poor.
You don't need to support socialism. At least understand what is beneficial to a larger section of people instead of being beneficial to only a handful of people who control us. 😂
@@RitamRoy_
Adani serves the poor by giving cheap net and you guys use that to disregard your papa Adani 😂😂
Great discussion.