Political economy for the rich : The Tribune India


Aunindyo Chakravarty

Senior Economic Analyst

For three decades now, public opinion has been systematically massaged in favour of private enterprise and the free market. Today, almost all of us believe that the profit motive is not only good for businesses, but also for society as a whole. We have been nudged by mainstream media, economists and various other experts and our netas, that the market rewards talent, merit and hard-work, and punishes sloth and inefficiency. Ironically, this moral philosophical attitude has ended up fostering policies that inevitably favour the rich.

In the neoliberal fantasy world, markets are a level playing field, where citizens confront each other as equal economic agents. They not only exchange goods and services, but also compete with each other to provide them at the lowest cost. Those who use their resources efficiently…

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