Capitalism Sociolism and Indian Politics

Politics of India take place in a framework of a federal parliamentary multi-party representative democratic republic modeled after the British Westminister System. The regulation of economic activity by the state is, in itself, a partial negation of the law of value, even if the state is, as yet, not the repository of the means of production. Capitalist private property is also partially negated by the monopoly structure. Socialism today is in crisis. Once the banner under which millions of working people resisted the horrors of the factory system and demanded a new society of equality, justice, freedom and prosperity, socialism has become identified in the modern world with monstrous, bureaucratic regimes that deny even the most elementary democratic rights.