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Since the current crisis began, it is the ruling classes not labour movements, which have seized the crisis as an opportunity. Even while the public stands disgusted with the speculative orgy that neoliberalism unleashed, even while the mythology of market fundamentalism has been discredited, and even while public sentiment is hostile to the bank bailouts - the response of capitalist states has been to shore up, however they can, the very model that brought the ...
Why were some countries able to build ‘developmental states’ in the decades after World War II while others were not? Through a richly detailed examination of India’s experience, Locked in Place argues that the critical factor was the reaction of domestic capitalists to the state-building project. During the 1950s and 1960s, India launched an extremely ambitious and highly regarded program of state-led development. But it soon became clear that the Indian ...