Sunday, May 18, 2014

Joe Weisenthal — MORGAN STANLEY: India Just Delivered A Political 'Tsunami' That Will Trigger A New Era For The Country

The answer to that is captured nicely in a new report from Morgan Stanley's Chetan Ahya titled: A Trigger For The Next India.

Basically, because Modi is very pro-growth and development, and because his party won in a gigantic landslide, India may finally have a government ready to institute badly needed political reforms that will reduce the deficit, corruption, bureaucracy, and inflation.
"Reduce the deficit" = impose fiscal austerity. "Pro-growth" = deregulation, privatization, union suppression, and the rest of the neoliberal playbook that favors investment and exports in order to increase "capital formation." Taken together they imply increasing the power of capital, reducing the role of government, and shrinking the welfare state in favor of a market state.


Can Narendra Modi accomplish this neoliberal transformation of India while reining in corruption without incurring powerful regional opposition? We'll see. Count me skeptical.

 Business Insider
MORGAN STANLEY: India Just Delivered A Political 'Tsunami' That Will Trigger A New Era For The Country
Joe Weisenthal

3 comments:

Unknown said...

Tom, this will interest you:

http://www.interfluidity.com/v2/5117.html

Tom Hickey said...

Thanks, y. It's on my reading list for today.

Unknown said...

Narendra Modi is doing a great job he will reduce the and improve corruption, bureaucracy, and inflation


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