Reading Neoliberal Market Economy with Jawaharlal Nehru

Abstract

This article intends to explore how neoliberal market economy impacts social democracy in globalising India and examines its implications for the millions of Dalits. It argues that the institution of social democracy, which flourished in India during the Nehruvian era of mixed economy and welfare state, seems to be fast approaching its demise under the ongoing process of neoliberalism. It further argues that the fast-expanding domain of the corporate sector and the free flow of global capital, in conjunction with the gradual withdrawal of the welfare state, will not only widen inequalities, but also stifle the growth of social democracy in the country.