Mexico’s Move to Shunt out Neoliberal Agenda Holds Lessons for India

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President Lopez Obrador of Mexico in his inaugural speech itself had called neoliberalism a “disaster” and a “calamity”. The Leftist political party, MORENA, to which he belongs, had stated in its programme: “The global economic crisis has revealed the failure of the neoliberal model. The economic policy imposed by the international financial organisations leads to the fact that Mexico is one of the countries with the slowest growth.” MORENA’s programme had proposed instead that the “State should assume responsibility to lead development without foreign interference”.

With this perspective, Obrador has been putting in place a range of economic changes that represent a turn away from neoliberalism and the re-institution of a dirigiste regime that had become complete anathema for that country’s leadership for the past several decades.

Not surprisingly, Obrador is being attacked by the western press for this temerity, with the…

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