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Capital, Non-Capital and Transformative Politics in Contemporary India

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  • Deepankar Basu

    (Department of Economics, University of Massachusetts - Amherst)

Abstract

Kalyal Sanayal’s work on postcolonial capitalism has been influential in many strands of critical social theory. In this brief note, I investigate three key components of his argument and find them wanting. In particular, I show that the evolution of land ownership in India does not support the claim that the primitive accumulation of capital is one of the important processes in operation in contemporary India. On the contrary, the evidence suggests that the process of primitive accumulation has been arrested or significantly slowed down. In addition to the critical comments on Sanyal (2007), I indicate towards an alternative framework that is better able to explain the key features of contemporary India.

Suggested Citation

  • Deepankar Basu, 2019. "Capital, Non-Capital and Transformative Politics in Contemporary India," UMASS Amherst Economics Working Papers 2019-01, University of Massachusetts Amherst, Department of Economics.
    • Handle: RePEc:ums:papers:2019-01
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    References listed on IDEAS

    as
    1. Debarshi Das, 2007. "Persistence of small-scale, family farms in India: A note," The Journal of International Trade & Economic Development, Taylor & Francis Journals, vol. 16(3), pages 401-410.
    2. Amit Basole & Deepankar Basu, 2010. "Relations of Production and Modes of Surplus Extraction in India," UMASS Amherst Economics Working Papers 2011-01, University of Massachusetts Amherst, Department of Economics.
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    More about this item

    Keywords

    postcolonial capitalism;

    JEL classification:

    • B24 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Socialist; Marxist; Scraffian
    • O29 - Economic Development, Innovation, Technological Change, and Growth - - Development Planning and Policy - - - Other

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