The
conclusion drawn by Piketty and Chancel in their recent
paper shows a greater income inequality in India than
it has ever been in the past century. But what stands
out is that the trend perfectly synchronizes with transition
to neo-liberalism, a stage of capitalism wherein international
finance has gained hegemony, and no longer remains a
policy choice.
*
This
article was originally published in People's
Democracy
on October 1, 2017. |
