The formation of an unjust society due to neoliberalism semantics

- The whole of economics: Dhawal Mehta

- The United States and China are the largest contributors to the world's economic growth

The old capitalism that created colonies around the world has now manifested itself in the extreme form of neoliberalism. He considers himself to be the best of the market factors in the name of productivity and efficiency and believes that the state should be the only umpire of the economy. Some economists in the West are praising the free market, despite the fact that the financial crisis created by the US in 2002 has severely damaged the economy of itself and many other countries, despite the poor performance of financial institutions and free markets. Earlier, in the 190's, OPEC doubled, tripled and quadrupled fuel oil prices in a short period of time, plunging the Western economy into stagnation. The two main champions were US President Ronald Reagan and British Prime Minister Margaret Thatcher. The two main proponents of the ideology of neoliberalism, Frederick Hapek and Milton Friedman (Chicago School), became the masters of neoliberalism. Neoliberalism was born in Germany during World War II in response to state-run fascist economics.

Economics is not the work of the state: Neoliberalism has increased the efficiency of production and distribution of economics but has created the problem of social and economic injustice. The number of billionaires is increasing not only in the rich countries of the world but also in countries like India. Even in China, where the number of billionaires is skyrocketing and the number of billionaires in communist China is growing and economic inequality seems to be growing, the Chinese government has started promoting new billionaires. The world's economic system is now such that the United States and China have become the main leaders in the world's growing economic income. China and the United States are the biggest contributors to any economic growth in the world. Both countries are high-tech. The number of high-tech unicorns in these countries is growing rapidly.

Soviet Russia (now the Russian Federation), once a leader in economic growth, has become a scapegoat for economic growth. It has become a second rate nation. India aims to increase its national income from the current nearly ત્રણ 3 trillion to પાંચ 5 trillion by 205 to become one of the five largest economies in the world. Remember that E.S. In the 19th century, China was poorer in terms of GDP than India. But without economic and social justice, India would be worth five trillion dollars. India has allocated an ant to build infrastructure in education and health and other services. Eye-catching projects in India have no meaning in the long run. Fortunately, the countries of Western Europe have taken the lead in establishing welfare states by separating themselves from the toxic system of neoliberalism, i.e. market fundamentalism. But for that, the people have to pay very high taxes (20 to 30 per cent). These countries want to take advantage of the market. At the same time, you are making the health, unemployment and education sectors as accessible and high quality as the AAP in India.

Seen in this light, the governments of these countries have a major role to play in the economy that supporters of neoliberalism do not like. The political philosophy of neoliberalism is anti-interference in the economy of the state. India needs to move towards creating a welfare state, not neoliberalism.