India’s success story as the fastest growing economy of the world coexists with’ an insular, selfish, and antidemocratic elite in an unequal society, where “predatory forms of capitalism”, supported and promoted by the State prevail driving the poor to the wall. Recent corruption scandals in the mining and the telecom sector only serves to highlight the fact that crony capitalism and rent seeking are the main drivers of the GDP growth not innovation or entrepreneurial dynamism.

We of the sinking middle class may sink without further struggles into the working class where we belong, and probably when we get there it will not be so dreadful as we feared, for, after all, we have nothing to lose-George Orwell   Writing in the Globe and Mail the Delhi based journalist Amrit Dhillon paints a despairingly gloomy picture[Read More…]