Inequality and Capitalism in India

Abstract

Capitalism is usually associated with inequality. The Indian variant of capitalism creates its specific structure of inequality. The recent trends of capital concentration in India, facilitated by the political decision-making, shape particular patterns of the rise in inequalities. The nature of capitalism in India is linked to the nature of capital concentration and the low bargaining power of the labour. The article discusses these links. The article discusses the recent attempts at social and political legitimization of the prevailing kind of capitalism under the current political regime. The focus is on long-term issues, and instead of a detailed account, the attempt is to paint a picture with a very broad brush.