REAL INCOME OF RURAL POPULATION IS ON STEEP DECLINE
Prabhat Patnaik
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2020-10-09 09:42
Growth under capitalism is associated with an increase in absolute poverty. Marx had recognised this and expressed it as follows: “Accumulation of wealth at one pole is, therefore, at the same time accumulation of misery, the torment of labour, slavery, ignorance, brutalisation and moral degradation at the opposite pole, ie, on the side of the class that produces its own product as capital” (Capital Volume I); or again, “As productive capital grows…the forest of uplifted arms demanding work becomes ever thicker, while the arms themselves become ever thinner”(Wage Labour and Capital).