Saturday, May 8, 2010

Where Capitalism wins...Part-I

The western world (which by extension refers to the whole world) classifies politics as left and right (curiously based on the sitting tendencies of certain leaders with communist beliefs to the left of the French president). Of course, there are sub-divisions like center-left, far-left, center-right, far-right, etc.

The politics on the left of the spectrum generally opposes the forces of globalisation, capitalism, and root for public and government control over most or critical installations in the country. They hope for equitable and horizontal development of the society.

The politics on the right generally, favours limited state control, and greater liberalization as regards the businesses in the country. They instead of going for horizontal development believe in the trickle-down effect which basically means, that even if the rich do get richer, the benefits of any sort of development will eventually trickle down to the poorest sections of the society.

By now, you must have understood that both the systems have there own advantages and disadvantages. While, under socialism or communism the rich and the middle class is made to suffer or for want of a more polite description made to shoulder the burden of the predominantly rural and pro-poor reforms, a right wing political party's ideology though favouring equal development opportunities to all, has mostly been found to be negligent towards the poor in the society.

So, logically, India, being a mixed economy must be the best and most balanced case for development with the best of both worlds approach. Alas, we have a tendency to screw up even the best scenarios.

For the past 6 years we have had a center-left government at the center.

It is an irony that the country that is most set to gain from globalisation is having a center-left government at the center. Now, in the next few articles, I will share a few examples that I can think of where right wing politics would have made a better case for both governance and development.

2 comments:

  1. but to have a perfect system is next to the Impossible, throw some light on which system, India should follow at some particular places,like i think capitalism should more emphasis in left ruling states,as there GDP, is very less, and states like Gujarat, socialism must be encourage, because here capitalism is having greater roots, so definitely, expense, and burden to a normal person are at par......

    At last i just conclude its an abysmal debate/discussion

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  2. I don't think it is practical to have two completely opposite systems of governance in the same country. Moreover, no particular system can be thrust upon the people in a democracy. I never said Gujarat has a capitalistic economy or Left ruled states follow communism. These are just tendencies, merely the influence of different ideologies on different societies. In fact, Gujarat can be said to be an ideal case of Mixed Economy with its share of state owned profit-making companies.

    Also, I would like to point out, this article was never intended as a debate. This is merely my understanding of the topic.

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