Crises of Crony Capitalism: the Unraveling Incompetence of Modi Regime

(Report on the Public meeting by New Socialist Initiative on 24^th Nov, 2018 by Sanjay Kumar)

Speakers: Prashant Bhushan, DrAtulSood (JNU) and DrRohit Azad (JNU)

Economy is unarguably among the most important component of any society. However, it is also true that informed discussions and debates on issues related to economy rarely enter public discourse. Instead, a moralistic populism which is quick to eulogise heroes and vilify villains dominates. In their opening remarks, the organisers of the public meeting on the above topic cited this lacuna in the political discourse in India as the context of the programme. For example, during the most recent national elections in the US, France and UK, an increase in the minimum wage was an important part of the opposition candidates’ campaign. In India that is highly unlikely. This absence is especially dangerous for left politics because it does not allow a critical class consciousness to emerge. Ever since independence movement we are witness to a longstanding populism in India, which talks of the poor, and how they need to be ‘helped’. Through this thepolitically powerful develop patronage over the weak. However, the poor in whose name economic policies are declared cannot be agents who make history, which any left politics needs.