Chapter 37: Neoliberalism and the crisis in India's countryside
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Neoliberalism entails not a cessation of State intervention, but a change in its nature compared to the previous dirigiste regime. This change consists in the fact that the State now directly promotes the interests of the domestic corporate-financial oligarchy that is integrated with international capital, ostensibly for bringing about “development”, while withdrawing from its earlier role of supporting the traditional petty production sector, including peasant agriculture. This oligarchy, and international capital, is now allowed to encroach upon peasant agriculture, leading to a squeeze on the assets and incomes of peasants and agricultural labourers, which underlies the crisis in the countryside.

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