The Paradox of Profits: Some Tentative Conclusions
As suggested in Chapter 5, there is one central paradox that has come to characterise India’s corporate economy today. On the one hand, the regulatory framework through which the Indian state had historically managed accumulation stands dismantled. On the other hand, some highly problematic continuities with the interventionist era remain. For those of us who believe in history, perhaps such a paradox is to be expected; nonetheless, the importance of this paradox — of the coexistence of some elements of state intervention simultaneously with weak regulatory powers of the state — needs to be assessed carefully.