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'The Left has saved India from the global meltdown'

November 26, 2008
How will the global meltdown affect India? Will India too confront job losses like America and Europe witness currently?

Marxist historian Samir Amin believes India will not be affected much by the world-wide economic crisis and believes this is because of the country's Left parties.

In his opinion, "India will suffer less compared to countries like Brazil or South Africa which were more open economies and one must thank the Left parties for that."

According to the Egyptian-born thinker, India's Left parties did not allow Prime Minister Manmohan Singh's United Progressive Alliance to fully integrate with the global financial market and that saved India.

The author of more than 30 books, including Imperialism & Unequal Development, Specters of Capitalism: A Critique of Current Intellectual Fashions and Beyond US Hegemony: Assessing the Prospects for a Multipolar World, Professor Amin visited Mumbai last week to deliver the first Anuradha Ghandy memorial lecture, 'Beyond Liberal Capitalism in Crisis, the Socialist Perspective of the 21st Century.'

He discussed the future of socialism in the 21st century with Syed Firdaus Ashraf.

Image: Professor Samir Amin. Photograph: Uttam Ghosh

Also read: An interview with George Soros
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