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Correct these elite distortions

The Indian economy and its workforce deserve freedom from the damaging tyranny of the tiny elites in the next decade

Dhiraj Nayyar 

Dhiraj Nayyar

Capitalism and the market economy are often criticised for exacerbating inequalities and creating elites. Ironically enough, socialist or state-dominated economies also create elites and inequalities while professing equality for all.

Capitalism’s excesses tend to be more easily corrected because the state can step in to do the correction. But if the state is in charge, who engineers the course correction? Consider the Indian context. Among the biggest impediments to efficiency, growth and employment in the economy are the following three: A bloated public sector enterprises ...

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First Published: Wed, January 01 2020. 22:09 IST
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