Crisis and Predation
India, COVID-19, and Global Finance
The book argues that global financial interests oppose any sizable expansion of public spending by India, and a handful of top Indian corporate groups actually benefit from the resulting demand depression armed with funds, they are picking up valuable assets at distress prices. Meanwhile, under the banner of reviving private investment, the rulers have planned giant privatizations, and drastically revised laws concerning industrial labour, the peasantry, and the environment - in favour of large capital.
And yet, this book contends, India could defy the pressures of global finance in order to address the basic needs of its people. But this would require shedding reliance on foreign capital flows, and taking a course of democratic national development. This, then, is a course not for India's ruling classes, but for its people to struggle for.