What Has Neoliberal Capitalism Ever Done for India? The Demonetization Heist
NOVANEWS
By Colin Todhunter
Global Research
When India ushered in neoliberal economic reforms during the early 1990s, the promise was job creation, inclusive growth and prosperity for all. But, some 25 years later, what we have seen is almost 400,000 farmers committing suicide, one of the greatest levels of inequality out of all ‘emerging’ economies, a trend towards jobless ‘growth’, an accelerating and massive illegal outflow of wealth by the rich, and, as if that were not enough, now we have the sequestration of ordinary people’s money under the euphemism ‘demonetization’.
Data from the Multi-dimensional Poverty Indexindicates that 20 years ago, India had the second-best social indicators among the six South Asian countries (India, Pakistan, Bangladesh, Sri Lanka, Nepal and...