Photo Source: Babushahi Bureau
Expert lectures on Globalization Myth and Crisis of Capitalism organized at IDC, Chandigarh
Babushahi Bureau
Chandigarh, January 17, 2025: Expert lectures on Globalization Myth and Crisis of Capitalism by Prof. Radhika Desai and America’s Two-Party Dictatorship: Implications for World Peace and Sustainable Development by Prof. Alan Freeman, both from the University of Manitoba, Winnipeg, Canada, were organized by the Institute for Development and Communication (IDC) on January 17, 2025.
These sessions were a part of Prof. Randhir Singh Memorial Lecture Series, annually held at IDC.The event honored the legacy of Prof. Randhir Singh, known for his critique of capitalist imperialism and his commitment to dialogical traditions.
Prof. Radhika Desai introduced the concept of geopolitical economy as a superior framework for understanding today’s multipolar world.She argued that multipolarity emerged as a dialectical response to imperialism, which itself arises from capitalism as contradictory value production.
Her analysis critiqued the neoliberal rollback of post-war reforms, highlighting the capitalist tendency toward low growth, low investment, higher inequality, and financialization.
The session was chaired by Prof. Ronki Ram, who revisited the legacy of Prof. Randhir Singh highlighting his contributions to analyzing the destructive impact of globalization on traditional communities and its reinforcement of capitalist exploitation.
Prof. Alan Freeman delved into the intersection of capitalism, democracy, and imperialism. He highlighted the importance of understanding the historical context of capitalism, beginning with its foundation in slavery and colonial exploitation.
The discussion transitioned to analyzing the U.S. political system, describing it as a “two-party dictatorship” rooted in capitalist and imperialist interests. Prof. Freeman critiqued the lack of genuine democracy in the U.S., noting the concentration of power and the inability of third parties to influence the political system.
He further emphasized the need for structural reforms to address the failures of the U.S. economy and political system. Solutions proposed included dismantling the role of corporate influence in politics, democratizing governance, and fostering global cooperation for equitable development.
He concluded with a call to reimagine democracy, ensuring that it serves the interests of the people rather than perpetuating capitalist dominance.The session was chaired by Prof. Pramod Kumar who critiqued the convergence of major political parties on neoliberal policies, despite their differing public stances.
He lamented how electoral politics has shifted from addressing systemic inequalities to perpetuating them, creating mistrust in the formal governance system.
Prof. Kumar stressed the need for structural reforms to replace economic imperatives with democratic power, creating forums to foster genuine democratic discourse and empower citizens.
Both sessions provided valuable insights into the myths of globalization and the systemic flaws of capitalism, urging the institutions and intellectuals of the statecraft to rethink contemporary political and economic systems.
The event brought together a diverse audience of over 50 scholars, policymakers, and students to explore the systemic crisis of capitalism and its global implications.