There are several reports globally on the rising economic disparities in the post-liberal era, upon which no political party is keen to act

Even as the world celebrates the International Day of Democracy today, it is clear that during the COVID-19 pandemic, the concept has gone awry throughout the world. Power and political activity are the essence of modern-day democracy. Yet, political authority, which is based on legitimacy and is a tool to deliver political, economic and social justice, has been rendering yeoman’s service to corporates, both domestic and foreign.

Ruling dispensations all around the globe have resorted to authoritarianism under the guise of the health emergency. In addition, democratic upheaval through excessive centralisation and the curbs imposed on political activities during this pandemic, have left minimal space to raise the concerns of the urban poor.

The contagion, a bolt from the blue, has caught our health systems off guard. In India, the labour class has been caught between the devil and the deep sea, thanks to the recent twin moves of the Government: Privatisation and the sudden lockdown. Seemingly, the rudderless policies of the Government have created enough space for further pauperisation of the underprivileged masses.

Now, the federal governments of Third World countries have to walk on razor’s edge to meet fiscal deficit targets on one hand and connect the welfare dots on the other. Amid this chaos, big corporations are making hay due to the relaxation of tax rates and labour laws. As the unemployment numbers in the country soar and the working class is hard put to find jobs, industries and businesses will expect this surplus labour to be at their beck and call. Amid this gloom and doom scenario, the ruling elite has been trying to divert the attention of the suffering masses by shifting the national discourse towards sensitive issues like religion and hypernationalism.

Neo-liberalism and corporatisation: The stringent measures taken by the World Bank and the International Monetary Fund (IMF) against Third World nations — like pruning subsidies, rollback of welfare measures and the abatement of labour laws as essential for any sort of relief package during the crisis of balance of payments — have left the labour class helpless.

The US, with the support of the WTO (World Trade Organisation), had exhorted all these countries to provide untrammelled access to its products. Apparently, the aims and paths of federal governments of these nations, the WTO and the IMF are congruent with regard to free trade and the globalisation of capital.

The lawful protection of the working class under the labour laws had proved disastrous for the interests of the capitalist class and was being viewed as an impediment to their exploitation. However, the decades-long struggle to retain these labour rights in independent nation states has come to a naught due to weakened trade unions and the decline of social capital in times of Covid.

However, despite the “new normal” of the Coronavirus era, the time has come to fight tenaciously to restore the rights of the working class, which have been tossed aside as of now.

When the market space is being dominated by monopoly, duopoly or triopoly, free and fair competition which unhindered markets guarantee, go out of the window. Extolling the virtues of neo-liberalism, the modern nation states have centred their development agenda in and around urban centres. Economically, in the post-liberal era of India, upward mobility is largely confined to sections of the urban middle class.

Welfare economics: It is wrong to mention that welfare economics is based on the “rob Peter to pay Paul” principle when Peter has direct access to resources (natural, political, economic and social) as opposed to Paul. It is not  Peter but Paul who is running from pillar to post in search of opportunities. The notion of political equality of a liberal ideological stream revolves around freedom and liberty of an individual and overlooks the core elements of equality like social and economic justice. Governments all over the world have successfully repudiated the pro-poor agenda and this volte face from a welfare State to a pro-capitalist State has pushed the labour class into deeper penury.

The politician-capitalist nexus: The unholy nexus between the political class and corporates has been riding roughshod over the interests of the poor. This alliance makes it vital for the political class to safeguard the vested interests of tycoons. It is appropriate to mention here that representative democracy has been metamorphosing into a turncoat democracy.

Back in the day, politicians were known for their erudition, statesmanship and uncompromising ideological commitment. On the contrary, the present day representatives of the people are turning into snollygosters for their personal gains. There are several voluminous reports from different corners of the world on the rising economic disparities in the post-liberal era, upon which no political party is keen to act. As the late pop singer Michael Jackson once sang, “All I want to say is that they don’t really care about us.” The lyrics are still relevant in these pandemic-riddled times.

Globalisation and dependency: The South Asian nations started on their liberalisation, privatisation and globalisation path at the same time, with the exception of Sri Lanka, which opened up its economy slowly, in fits and starts. They had adjusted their economic apparatus with a new global integration process at a time when the global economic architecture was dominated by a unipolar power, the US. Since then, the lopsided globalisation process has been converting many Third World countries into dependents and in some cases they have been almost reduced to aid recipients dependent upon erstwhile colonial powers or the US.

Under the banner of global integration and in the name of free trade, the Western powers have been bleeding these nations of their resources. Asymmetrical globalisation has also challenged the sovereignty of these nations while the same has remained intact in case of developed nations.The US has been playing a rigged game of globalisation under the auspices of the WTO, the World Bank and other agencies. The time has come for Third-World nations to rise as one to have a just order in the international sphere.

(The writer is Director of an IQS academy in Hyderabad and a columnist on global affairs and trade)

There are several reports globally on the rising economic disparities in the post-liberal era, upon which no political party is keen to act

Even as the world celebrates the International Day of Democracy today, it is clear that during the COVID-19 pandemic, the concept has gone awry throughout the world. Power and political activity are the essence of modern-day democracy. Yet, political authority, which is based on legitimacy and is a tool to deliver political, economic and social justice, has been rendering yeoman’s service to corporates, both domestic and foreign.

Ruling dispensations all around the globe have resorted to authoritarianism under the guise of the health emergency. In addition, democratic upheaval through excessive centralisation and the curbs imposed on political activities during this pandemic, have left minimal space to raise the concerns of the urban poor.

The contagion, a bolt from the blue, has caught our health systems off guard. In India, the labour class has been caught between the devil and the deep sea, thanks to the recent twin moves of the Government: Privatisation and the sudden lockdown. Seemingly, the rudderless policies of the Government have created enough space for further pauperisation of the underprivileged masses.

Now, the federal governments of Third World countries have to walk on razor’s edge to meet fiscal deficit targets on one hand and connect the welfare dots on the other. Amid this chaos, big corporations are making hay due to the relaxation of tax rates and labour laws. As the unemployment numbers in the country soar and the working class is hard put to find jobs, industries and businesses will expect this surplus labour to be at their beck and call. Amid this gloom and doom scenario, the ruling elite has been trying to divert the attention of the suffering masses by shifting the national discourse towards sensitive issues like religion and hypernationalism.

Neo-liberalism and corporatisation: The stringent measures taken by the World Bank and the International Monetary Fund (IMF) against Third World nations — like pruning subsidies, rollback of welfare measures and the abatement of labour laws as essential for any sort of relief package during the crisis of balance of payments — have left the labour class helpless.

The US, with the support of the WTO (World Trade Organisation), had exhorted all these countries to provide untrammelled access to its products. Apparently, the aims and paths of federal governments of these nations, the WTO and the IMF are congruent with regard to free trade and the globalisation of capital.

The lawful protection of the working class under the labour laws had proved disastrous for the interests of the capitalist class and was being viewed as an impediment to their exploitation. However, the decades-long struggle to retain these labour rights in independent nation states has come to a naught due to weakened trade unions and the decline of social capital in times of Covid.

However, despite the “new normal” of the Coronavirus era, the time has come to fight tenaciously to restore the rights of the working class, which have been tossed aside as of now.

When the market space is being dominated by monopoly, duopoly or triopoly, free and fair competition which unhindered markets guarantee, go out of the window. Extolling the virtues of neo-liberalism, the modern nation states have centred their development agenda in and around urban centres. Economically, in the post-liberal era of India, upward mobility is largely confined to sections of the urban middle class.

Welfare economics: It is wrong to mention that welfare economics is based on the “rob Peter to pay Paul” principle when Peter has direct access to resources (natural, political, economic and social) as opposed to Paul. It is not  Peter but Paul who is running from pillar to post in search of opportunities. The notion of political equality of a liberal ideological stream revolves around freedom and liberty of an individual and overlooks the core elements of equality like social and economic justice. Governments all over the world have successfully repudiated the pro-poor agenda and this volte face from a welfare State to a pro-capitalist State has pushed the labour class into deeper penury.

The politician-capitalist nexus: The unholy nexus between the political class and corporates has been riding roughshod over the interests of the poor. This alliance makes it vital for the political class to safeguard the vested interests of tycoons. It is appropriate to mention here that representative democracy has been metamorphosing into a turncoat democracy.

Back in the day, politicians were known for their erudition, statesmanship and uncompromising ideological commitment. On the contrary, the present day representatives of the people are turning into snollygosters for their personal gains. There are several voluminous reports from different corners of the world on the rising economic disparities in the post-liberal era, upon which no political party is keen to act. As the late pop singer Michael Jackson once sang, “All I want to say is that they don’t really care about us.” The lyrics are still relevant in these pandemic-riddled times.

Globalisation and dependency: The South Asian nations started on their liberalisation, privatisation and globalisation path at the same time, with the exception of Sri Lanka, which opened up its economy slowly, in fits and starts. They had adjusted their economic apparatus with a new global integration process at a time when the global economic architecture was dominated by a unipolar power, the US. Since then, the lopsided globalisation process has been converting many Third World countries into dependents and in some cases they have been almost reduced to aid recipients dependent upon erstwhile colonial powers or the US.

Under the banner of global integration and in the name of free trade, the Western powers have been bleeding these nations of their resources. Asymmetrical globalisation has also challenged the sovereignty of these nations while the same has remained intact in case of developed nations.The US has been playing a rigged game of globalisation under the auspices of the WTO, the World Bank and other agencies. The time has come for Third-World nations to rise as one to have a just order in the international sphere.

(The writer is Director of an IQS academy in Hyderabad and a columnist on global affairs and trade)