Very nice article indeed ! Given their ideological - TopicsExpress



          

Very nice article indeed ! Given their ideological predilections, political pundits in India are either enamoured by the economic model of the United States or China. The fact is that both of these major economies are ridden with corruption and cronyism. Despite reckless speculation and rampant malpractices, the financial giants of the US were bailed out using trillions of dollars of taxpayers’ money after the crash of the housing bubble, thanks to the Wall Street-Treasury complex. A recent exposé by the International Consortium of Investigative Journalists has revealed how close relatives of the top Chinese leadership and other wealthy businessmen have stashed away wealth in offshore tax havens like the British Virgin Islands. Neoliberal capitalism, whether American free market-style or with Chinese characteristics, has invariably turned out to be of the ‘crony’ variety. What is needed in India is a political force that can take on entrenched ruling class interests and challenge the corrupt, undemocratic and deeply iniquitous status quo. Drastic reforms, both political and economic are necessary. While passionately arguing for political reforms, AAP is turning its back on the necessity of breaking the collusion between the State and big capital and redefining their inter-relationship on a democratic basis. For the anti-corruption cause, this stand is self-defeating.
Posted on: Thu, 13 Mar 2014 05:22:08 +0000

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