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‘Capital as power’: an alternative reading of India’s post-2011 economic slowdown

‘Capital as power’: an alternative reading of India’s post-2011 economic slowdown A study of the post-2011 economic slowdown in India that challenges liberal and Keynesian interpretations by drawing on Nitzan and Bichler’s argument of 2009 that modern-day capitalist activity is shaped primarily by differential rather than absolute accumulation and the accumulation of power so as to squeeze and lock out competitors, monopolize resources, sabotage production and acquire unused capacity. In an exploration of the deep-rooted entanglements of power, crisis and accumulation, firm-level data from India are examined to show that a growth slowdown, economic crisis and destruction of the livelihoods of millions of people have provided an opportunity for top corporate houses to entrench their power and wealth. Crisis, in other words, has been good for business. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Area Development and Policy Taylor & Francis

‘Capital as power’: an alternative reading of India’s post-2011 economic slowdown

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‘Capital as power’: an alternative reading of India’s post-2011 economic slowdown

Abstract

A study of the post-2011 economic slowdown in India that challenges liberal and Keynesian interpretations by drawing on Nitzan and Bichler’s argument of 2009 that modern-day capitalist activity is shaped primarily by differential rather than absolute accumulation and the accumulation of power so as to squeeze and lock out competitors, monopolize resources, sabotage production and acquire unused capacity. In an exploration of the deep-rooted entanglements of power, crisis and...
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Publisher
Taylor & Francis
Copyright
© 2022 Regional Studies Association
ISSN
2379-2957
eISSN
2379-2949
DOI
10.1080/23792949.2022.2043172
Publisher site
See Article on Publisher Site

Abstract

A study of the post-2011 economic slowdown in India that challenges liberal and Keynesian interpretations by drawing on Nitzan and Bichler’s argument of 2009 that modern-day capitalist activity is shaped primarily by differential rather than absolute accumulation and the accumulation of power so as to squeeze and lock out competitors, monopolize resources, sabotage production and acquire unused capacity. In an exploration of the deep-rooted entanglements of power, crisis and accumulation, firm-level data from India are examined to show that a growth slowdown, economic crisis and destruction of the livelihoods of millions of people have provided an opportunity for top corporate houses to entrench their power and wealth. Crisis, in other words, has been good for business.

Journal

Area Development and Policy – Taylor & Francis

Published: Jan 2, 2023

Keywords: capital as power; economic slowdown; Indian economy; neoliberalism; 资本及力量; 经济下滑; 印度经济; 新自由主义; capital como poder; recesión económica; economía india; neoliberalismo; Капитал как власть; Экономический спад; Индийская экономика; неолиберализм

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