Author Archives: thuppahi

 Birla and Gandhi

The Indian Bourgeoisie.  A Political History of the Indian Capitalist Class in the Early Twentieth Century by David Lockwood

Book CoverBook Flyer from Tauris: By the time India gained independence, its leading industrialists were closely aligned with the leadership of the Indian National Congress. This was despite the fact that the Congress regarded itself as a socialist organisation and, as was the fashion of the times, believed socialism to be best implemented through a state-run economy. Why did the Indian bourgeoisie accept this? Why did Indian capitalism tie itself to the new state – and remain there until the reforms that began in 1991? In this political history of the Indian capitalist class, David Lockwood seeks to answer these questions. He traces the development of India’s capitalists from their early conviction that the British state would provide, through their later adherence to Congress and their eventual acceptance of a state-planned economy. Throughout, the account considers the implications of these developments for the concept of the bourgeois revolution. The scenario is not confined to the Indian case. Lockwood argues that the events in India were part of a world trend in which the completion of the bourgeois revolution has been held up by the domination of states – beginning with the First World War and only starting to fade in the late 20^th century. Continue reading →