A central challenge for policy makers in India, at the present juncture, is to work out a balance between the long-term benefits of global trade and the short-term harms that current uncertainties pose to large sections of the population who are at risk of low wages and unemployment. Tackling this requires a change of the existing system to account for the needs of the larger masses rather than only enriching private capital’s interests.

The evolution of capital

Indian capital has an important role to play in this change by becoming more inclusive of a broader set of interests beyond individual profits and rapid accumulation. The history of capitalism shows that this is not impossible as capitalism has evolved before, and if it is to continue into the future, it can evolve again. As the

See Full Page