Commodities and Corruption Prabhat Patnaik

Capitalism is supposed to bring in modernity, which includes a secular polity where ''babas'' and ''swamys'', qua ''babas'' and ''swamys'', have no role. Many have even defended neo-liberal reforms on the grounds that they hasten capitalist development and hence our march to modernity. The Left has always rejected this position. It has argued that in countries embarking late on capitalist development, the bourgeoisie allies itself with the feudal and semi-feudal elements, and hence, far from dealing the requisite blows against the old order, reaches a modus vivendi with it that impedes the march to modernity; it is only those social…