Neoliberalism, Corporations, and Power: Enron in India

Abstract

This article examines the role of Enron, an American corporation, in its promotion of the electric power sector in the Dabhol Power Project in India. Under the new economic regime in India, policy changes were followed by nine fast-track private electric power projects in different parts of the country with foreign companies as primary promoters or major collaborators. The new, privately promoted power projects brought into focus the power of foreign capital and neoliberal discourse. Neoliberalism is not about free markets, nor about freedom, nor development of the global South or postsocialist economies but rather a form of power that creates congenial spaces for the extraction of revenue by corporations in countries that were, until recently, relatively less accessible to capitalist exploitation. The research is based on interviews with key informants and archival data.