INDIAN ECONOMY UNDER NARENDRA MODI IS HEADING FOR A STATIONARY STATE
NEO-LIBERALISM HAS REACHED A DEAD END NOT JUST IN INDIA BUT IN THE WORLD AS WELL
2022-06-11 05:20
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Adam Smith and David Ricardo had been haunted by the idea of capitalism ending up in a “stationary state”, by which they meant a stable state of zero growth. Marx used the term “simple reproduction” to describe such a state, where there is no net addition to production capacity and the economy just reproduces itself at the same level period after period. The Indian economy appears headed for such a state.