The Public and the Private

Sep 4th 2009. Prabhat Patnaik

The fact that the agrarian crisis or the current raging inflation in India has not evoked major spontaneous struggles is linked to the country's transition from a dirigiste to a neo-liberal economic regime. As Indian capital becomes increasingly integrated with global financial capital, and the State increasingly represents the exclusive interests of the bourgeoisie, the interests of the people are sacrificed for the sake of the ''nation's'' emergence as an economic power. Further, the capacity for resistance in our society is also closely linked to the balance between the public and private sectors, which too undergoes a fundamental shift under neo-liberalism.

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