By Chirashree Das Gupta
This booklet offers a historic account of the connection among country and capital from independence to the liberalization episodes of the Eighties and after. It offers a concentrated research of the association of industrial homes, company governance constructions, labour legislation, and the establishment of the kin and private legislation, and explains the institutional foundation of neighborhood modifications in accumulation and asymmetric improvement in autonomous India. via addressing questions of agrarian, capital, know-how and financial constraints which have been attribute of the financial system at independence, this e-book presents an insightful learn of the political financial system of the function of fixing social kin in India after independence.
About the Author
Chirashree Das Gupta teaches on the Centre for the learn of legislation and Governance at Jawaharlal Nehru collage, New Delhi. Her examine pursuits are the political economic system of associations, financial heritage and the historical past of monetary notion.
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Extra info for State and Capital in Independent India: Institutions and Accumulations
Org/core/terms. 002 Globalization and Neoliberalism 33 1984; Patnaik and Chandrasekhar, 1995). They have also highlighted the obvious failure of the subsequent neoliberal project of ‘marketism’ in solving the structural problems of agrarian crisis, employment generation and poverty alleviation, and uneven regional development in spite of growth (Chandrasekhar and Ghosh, 2002). Patnaik (2003) locates these outcomes as a retreat to unfreedom propelled by the contemporary neoliberal world economic order.
New political economy approaches informed by the wisdom of the ‘good governance’ agenda spelt out ways in which the market mechanism could introduce transparency, reduce corruption and bring about a fairy-tale ending to all the ‘problems’ of ‘developing countries’ (World Bank, 1989, 1996). Thus neoliberalism definitely derives its economic logic from this hegemonic ‘monoeconomics’. The capable state in this understanding is one which reduces all barriers to the movement of capital and commodities.
1991 formalized a dynamic process of ‘opening up’, in keeping with FundBank conditionality, but the premises of the shift to neoliberalism had been slowly laid out in the previous decade. These ‘reforms’ were financed by an import-intensive growth process on the supply side (Iyer, 1991) and the purchasing power of the top income groups on the demand side, thus continuing the trajectory that had been followed since the 1980s. org/core. org/core/terms. 002 30 State and Capital in Independent India direct and indirect investment (Kurien, 1994).