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Economic Reforms as Ideology

This paper contends that the ongoing economic reforms' are a political ideology to shore up support for the use of power of the ruling resident mm Indians (RNI). To understand an ideology one has to understand the power behind it. The existing power base is shifting from industrial x; financial capital As finance defines the power base, it promotes the ideology that makes financial capital respectable and desirable. The ruling RNI government knows well that these economic reforms define an ideology. Since they always had control of government, only minimal changes in the economy were needed. Hence, real functioning of the economy has not changed while its performance has become more depressing. A positive change will need a paradigm shift of ideas. Its underlying principle has to be integrative and not divisiveness.

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