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The unknown history of economic conservatism in India after independence. Neoliberalism is often characterized as an undemocratic, expert-driven plan aimed at isolating markets from politics, invented in the North Atlantic and projected onto the rest of the world. Revising this understanding, Toward a Free Economy shows how economic conservatism emerged and spread in a colonial society consistent with the logic of democracy.
Twelve years after the British left India, a Swatantra Party (“Freedom”) came into existence. It encouraged Indians to withdraw from the Indian National Congress, which led the anti-colonial nationalist movement and now dominated India’s democracy. Rejecting the Congress’s heavy industrial developmental state policy and its accompanying socialist rhetoric, the Swatantra promised a “free economy” through the program of opposite politics.
As it circulated in various forms, the “free economy” acquired meanings that differed by region and language, caste and class, and gained diverse supporters. These expressions, informed by but distinct from neoliberalism, primarily came from communities in southern and western India as they adopted new forms of business activity. At their core, they meant anti-communism, free private economic activity, decentralized development, and the defense of private property.
Opposite politics involved ideas and practice. Swatantra leaders imagined a conservative alternative to a progressive dominant party in a two-party system. They communicated ideas and mobilized people around issues such as inflation, taxation, and property. And they creatively used India’s institutions to bring checks and balances to the political system.
The persistence of democracy in India is unusual among post-colonial societies. Appreciating a perspective on how Indians created and understood their own democracy and economy, Aditya Balasubramaniam broadens our view of neoliberalism, democracy, and the post-colonial world.
Manufacturer
Specifications
- Publisher
- Princeton University Press
- Language
- English
- Subtitle
- -
- Cover
- Soft
- Number of Pages
- 352
- Release Date
- 25/08/2026
- Publication Date
- 2026
- Dimensions
- -
- ISBN-13
- 9780691249285
Book Type
- Diversity, Equity & Inclusion (DEI)
- No
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