CAPITALISM is a “spontaneous” system in the sense that its dynamic is characterised by the unfolding of certain immanent tendencies, such as the commoditisation of every object, the destruction of pre-capitalist production, and the process of centralisation of capital. The question arises: what is the role of the State in this spontaneous dynamic of capitalism? In general the State in a capitalist society aids this dynamic, removing hurdles to, and accelerating the operation of, its immanent tendencies.

THERE is a view that the discontent among the English workers that caused the Brexit vote was not because of European economic integration as such, but because of the policy of free internal migration that has accompanied this integration; that if Europe had not enacted free migration within the EU, then its economic integration would have been more successful.

ALMOST all commentators on the British electorate’s vote to leave the European Union, whether from the Right or the Left, have missed the main point of it, namely that it is a massive revolt against the hegemony of globalised finance. Indeed, the fact that they have missed this point is itself indicative of the ubiquity of this hegemony among the literati, from which the British electorate, interestingly, appears substantially to have freed itself.

FOR pushing through the Goods and Services Tax (GST), the NDA government is resorting to an enormous amount of untruth. The most blatant of these is the utterly bogus claim that the GST would increase India’s GDP growth rate by 2 percent per year. If the GST had such a miraculous effect, then the world capitalist crisis would have vanished long ago, since the US, which does not have a GST, would simply have moved to a GST regime, adding to its GDP growth rate and that of the world economy as a whole.