India's ‘mixed’ economy is proves not a bad idea

OP-ED ASian Age October 06, 3008

Global crisis shows our ‘mixed’ economy isn’t such a bad idea
Paranjoy Guha Thakurta

At a time when international capitalism is going through an unprecedented crisis, it is worth reflecting on the strengths and weaknesses of India’s so-called mixed economy. Our first Prime Minister Jawaharlal Nehru wanted the country to assimilate the best elements of both capitalism and socialism. More than six decades later, the verdict is almost unanimous: we took the worst of both worlds. But there is more than a silver lining to the dark clouds of recession hovering over the global economy as far as India is concerned — the world’s largest democracy can still show the way to the rest of the world. more