300. A History of Economic Ideas

BIC TALKS

Described as “a brilliant history of economic ideas” by Amartya Sen, Aditya Balasubramanian’s recent book Toward a Free Economy: Swatantra and Opposition Politics in Democratic India, shows how ideas of ‘free economy’ emerged from communities in southern and western India as they embraced new forms of entrepreneurial activity, in opposition to the so-called ‘socialist planned economy’ of Nehruvian India.

‘Free economy’ became the rallying cry for the Swatantra (Freedom) Party, which rose and fell in 1960s India. Its project of opposition politics sought to create a viable conservative alternative to the dominant Indian National Congress and push India toward a two-party system.

In this episode of BIC talks, author Aditya Balasubramanian is in conversation with Narayan Ramachandran. This discussion provides a perspective on the changing relationship between the state and markets and the evolution of democracy in India and help us better understand communities who have been disproportionately successful in the aftermath of liberalisation and shed light on the constructive role opposition has played in Indian society.

This episode is an extract from an in-person event that took place at the BIC premises in December 2023.

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