The Spontaneity of Capitalism Prabhat Patnaik
The post-war restructuring of capitalism involving decolonization, the introduction of Keynesian demand management, and the institution of democracy based on universal adult suffrage, represented concessions made by the system to ward off the Communist threat which the enhanced prestige of the Soviet Union, the march of the Red Army across Eastern Europe, the sacrifices made by the Communists in the anti-fascist struggle all over Europe, and the Chinese Revolution had brought to the fore. True, the Yalta agreement had bound the Soviet Union into not supporting Communist ascendancy in Western Europe, in countries like France, Italy and Greece, in…