ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Understanding Capitalism through Lohia

Extending Lohia to our times, we can infer an important truth about capitalism. Capitalist development cannot take place without colonial or neocolonial exploitation. In the absence of external colonies or neocolonies, capitalism tries to create internal colonies, but they are not enough for full-fledged modern industrial development, which requires both exploitation of labour and the plunder and destruction of natural resources on a global scale. If internal colonial exploitation is fundamental to capitalism and unequal exchange in various forms is one of its important mechanisms, the Third World can be liberated only when it breaks away from the present system of international trade, exchange and finance and looks at ways of building an alternative society in all senses.

 

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