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Alexei Kupriyanov — Towards Strategic Autonomy of India: Narendra Modi Continues His Economic and Social Reforms

Summary:
The national elections in India have brought victory to the National Democratic Alliance (NDA) coalition, led by the Bharatiya Janata Party (BJP). The NDA has won a stable majority in the lower house of parliament. This means that the right-wing coalition will remain in power for at least another five years, and Prime Minister Narendra Modi will be able to continue his economic and social reforms, as well as be able to operate with a free hand in the international arena. India takes a hyper-nationalist (Hindutva dominated), neoliberal (neo-fascist*) turn to catch up in the global race in order to assume its rightful place as one of the largest and most advanced countries.  Absolute GDP as a measure of development in addition to growth is largely determined by population size and

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The national elections in India have brought victory to the National Democratic Alliance (NDA) coalition, led by the Bharatiya Janata Party (BJP). The NDA has won a stable majority in the lower house of parliament. This means that the right-wing coalition will remain in power for at least another five years, and Prime Minister Narendra Modi will be able to continue his economic and social reforms, as well as be able to operate with a free hand in the international arena.
India takes a hyper-nationalist (Hindutva dominated), neoliberal (neo-fascist*) turn to catch up in the global race in order to assume its rightful place as one of the largest and most advanced countries. 

Absolute GDP as a measure of development in addition to growth is largely determined by population size and productivity. India, with a billion plus population, now aims to increase its productivity to rival China and eventually overtake the US, which has high productivity but a less numerous population than India and China. 

In fact, it is this dynamic that is driving the historical dialectic on the grand scale, with Europe desperately trying to unite as a social, political and economic bloc to prevent being eaten by larger predators.

I would look at this as late-stage capitalism economically as the emerging world seeks to mirror the success of the developed world using developed world ideas. This creates a dialectic as an oppositional interplay between traditionalism, which is country or region specific, and liberalism, which is Western, in an environment in which the West assumes that domination is its natural place in the order of things and that liberalism is the only way to progress. 

Getting interesting watching the internal oppositions/contradictions (Widersprüche for Marx) manifest, often as antagonisms.

Valdai Analytics
Towards Strategic Autonomy of India: Narendra Modi Continues His Economic and Social Reforms

Alexei Kupriyanov

*What do I mean by "neo-fascist"? 

Neoliberalism is a political theory that views government as an ally of capital with labor (people) and land (the environment, the commons) considered as means to that end, progress being measured by economic growth. 

Alexander Dugin has pointed out that there are four political theories that have been contending for the past century — liberalism, fascism, communism and traditionalism. He views fascism and communism as declining, and liberalism and traditionalism rising.  The only purely communist country left is North Korea, China and Cuba both having introduced liberal reforms if not liberalism itself. He believes that fascism died out as a result of WWII. 

I think it is premature to write of either fascism or communism. One can instead view China as modernizing Marxism-Leninism rather than giving it up. Neither Marx nor Lenin were static thinkers and they would probably agree that their ideas should not be treated as dogma but in terms of their being representative of "moments" in the historical dialectic. China is rising and its system in competing quick well in a hostile world, thank you.

I am increasingly convinced that neoliberalism is combination of liberalism and fascism, similar to the way China is combining communism and liberalism. Neoliberalism is a political theory that views economic liberalism ("capitalism") as the driver of social and political liberalism ("liberal democracy"). Social and political liberalism as liberal democracy follow from economic liberalism that delivers prosperity. Classical economic liberalism (laissez-faire) was about terminating the dominant role of government under feudalism. This was complete by the end of WWI and the displacement of monarchy and aristocracy as the dominant form of governance in Europe.

But then the ruling elites realized that since capitalism meant favoring capital (property ownership) over the other factors of production, labor (people) and land (the environment and the commons), "progress" could be fostered and promoted by allying capital with governance. 

Mussolini and Gentile viewed fascism as the merger of state and corporate power. This is what neoliberalism aims at, with the state captured by the ruling elite as the most qualified to govern, and under neoliberal globalization not only the nation but also the world. The reality is that neoliberal globalization has been advanced by international organizations and technocrats at the expense of liberal democracy nationally since there is no accountability.


Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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