Imperialism then and now: [3] Capital relocation, inequality, encroachment and protracted crisis

Prabhat Patnaik shows that as capital is relocated, real wages do not rise, inequality widens, and global demand is suppressed. The system remains in protracted crisis, Keynesianism in the North alone is no solution. The struggle is everywhere.

"Imperialism which existed in the colonial era persists to this day and the system cannot do without it". In a 3 Part series, Prabhat Patnaik discusses his read on the history of capitalism from colonialism into the present. This concluding segment takes up the present period of capitalism.

As per "Capital and Imperialism" (Chapter 6 - Periods in Capitalism):"The periodization we follow is: (1) Colonialism prior to the First World War; (2) the interwar years; (3) the post-Second World War years and the ‘Golden Age of Capitalism’; (4) the era of globalization; and (5) the current conjuncture, which marks the dead end of globalization."