Through this comparative analysis, we understand what development is and how it works in a democracy to only cater to a few. During the Covid-19 pandemic, India saw a sharp rise in capitalists’ wealth when the rest of the country is struggling with inflation and no jobs.Īlso read: Capitalism And Colonisation: How The Climate Change Movement Is Being Whitewashed Image Source: Bhawna ParmarĬhomsky’s ten principles give a good insight into the process of this concentration and how we reached here. Wealth inequality has risen exponentially since India’s liberalisation. With increasing privatisation and civil unrest in India, we see how a similar phenomenon plagues Indian society today.Įspecially with the introduction of the new farm laws, which the farmers are vehemently opposing citing that it only will benefit the capitalists, it becomes imperative to understand how the concentration of power and concentration of wealth is working in this democracy. He emphasised the influence of the privileged and the powerful on governance and how it leads to a vicious cycle of concentration of power and concentration of wealth between the two, feeding off each other. Noam Chomsky wrote Requiem for the American Dream: The 10 Principles of Concentration of Wealth and Power to highlight the deep-rooted problems in American democracy. The ideas that the country was founded on are dwindling under the current regime. Even though democracy has always remained an ideal, many democratic practices have ceased to exist in today’s India. In the new India, the rights of citizens who do not follow the majoritarian ideology are getting curbed daily.
*Based on Noam Chomsky’s Requiem For The American Dream
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