ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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Marx, Market, Socialism-Setting the Record Straight

difficulty by the forecasters. CONCLUSIONS While it is welcome that an increasing number of serious researchers are taking up short-term forecasting through econometric or computable general equilibrium modelling, we find that foreign trade forecasts would require further development in the models to capture the policy changes in the area through appropriate indicators. At present, the focus of the models is on exchange rate and/or relative domestic/world prices at aggregate level. The DPC model in fact can study the effect of exchange rate changes only in terms of current account balance. The possibilities of strengthening the link between Indian model and the global models need to be explored further by the IEG-DSE and the NCAER models which have access to the latter. The need for disaggregated analysis in the models cannot be overemphasised. With the increasing importance of foreign trade as a means to integrate the Indian economy with the global economy, the effort would indeed be worthwhile, The more interesting results shown by Srinivasan's analysis reinforce this recommendation. To the extent export-import policy changes would remain important in the coming years in a low income developing country like India and noting that the policy objectives are a globally-oriented vibrant economy, sustained economic growth through access to inputs and capital goods at international prices, technological strength and efficiency of agriculture, industry and services thereby improving their competitive strength, and attainment of international expected standards and quality, the five- year and annual policy changes deserve due consideration in forecasting models covering exports and imports, [The views expressed in this paper are the author's personal views.] Marx, Market, Socialism Setting the Record Straight Paresh Chattopadhyay WE read with absorbing interest Nirmal Chandra's recent paper on 'Marx, Colonialism and the Market' (EPW, Vol XXXIII No 23). In this very well- written piece Chandra has, with his customary lucidity, mounted a sharp attack on the traditional as well as currently fashionable discourses on the 'benefits' of the much touted "globalisation" of capital. At the same time he has also forcefully argued in favour of the existence of market in socialism. We find here, in fact, a neat representation of what could be called the majoritarian trend in the post-Marx (Engles) 'Marxism', Admire as we always do his writings (and this piece makes no exception in this regard). we have to regretfully register our reservations concerning certain aspects of his paper It is the second part of his paper with which we deal here (not that we agree with everything he says in the first part) and there, again, our remarks concern exclusively his theoretical position, leaving aside his interesting treatment of the 'really (non) existing socialist' regimes starting with the USSR, Our analysis below centres on Chandra's two well-articulated positions: (i) Referring to the second section of the Communist Manifesto, Chandra first cites the paragraph where the Manifesto posits the "disappearance of buying and selling" in the "communist society." Next he cites an excerpt from the same section concerning the immediate "concrete measures" that the Manifesto lists to be undertaken by the 'proletariat organised as ruling class' (by the proletariat and not by the 'communists', contrary to Chandra's interpretation). Then writes Chandra; "I submit that the first excerpt on the abolition of buying and selling refers to what Marx in The Critique of the Gotha Programme calls the 'higher phase of communist society' .... But the second excerpt refers unmistakably to the first or lower phase of communism. For it is only at this stage, can capital be wrested

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