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Informal Political Economy, Insecurity and Primordiality

October 26 @ 10:00 am - 11:00 am

The contemporary neo-liberal economy in India thrives more on informal than the formal capitalist economy. It is fragmented, personalized and unregulated. Along with all kinds of material production, the capitalist political economy also manufactures wants as the market proliferates. More often than not, the inflated wants degenerate into greed and also legitimize a rat race among the people. Consumption has become a new drug for status and power. But, the political economy fails to provide decent employment to the majority of the aspirants. It deepens inequality and creates social insecurity among the youths both of the dominant strata and also of the traditionally deprived strata. Both the former, embedded in their life worlds of superiority, and the latter aspiring for equality and trying to improve their life chances and struggling for upward mobility, face crisis a of existence. Insecurity nurtures the primordial support system of mutual trust and support, euphemistically called ‘social capital’. The dominant communities with an accumulation of financial and social capital perpetuate their hegemony. Brexit in Europe, the victory of Donald Trump in the USA, and contemporary caste based agitations of the upper castes are manifestations of the contradictions of the neo-liberal economy.Discipline/Coordinating Entity: Humanities and Social Sciences

Details

Date:
October 26
Time:
10:00 am - 11:00 am
Event Category:

Venue

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