The Capitalist Discount Rate in India Or Anti-Working Class Strategies of the Ruling Class in India

While driven by the experience of India, the following remarks apply to any country of the world. Investment in plant and machinery, even if multipurpose and driven by cloud computing and Artificial Intelligence (AI), is a purposeful thrust into the future. In order to earn profits, expected demand must justify the considerable costs incurred today. If the future is clouded by the portent of shocks that cannot be forecasted, investment plans are stillborn. The contemporary twist is options that are available to corporations. Nonfinancial firms can transmute into financial firms. Stock market returns remain high, even if volatile, through financial crises. The cost of subdued real activity is unemployment. The labor market remains in a long twilight with no work and flat or falling wages. Clearly, the state must bridge the present and a perilous future. An imaginative industrial policy for India, for instance, would connect failing agriculture and soporific industry. However, the state and monopoly capital are in cahoots and at war with the Indian people. In this article, we share our diary of recording events as they unfold in the Indian economy. The mere reporting of incoherence and contradictions underscores the irrationality of Indian capitalism.