Though Jawaharlal Nehru decisively steered 
India towards socialism during the early heady decades after independence; it is only since the 1980s that one has seen a fierce debate on the promises and perils of Marx versus markets. Die hard Marxists still insist that the State must play a larger role (even they have given up on workers overthrowing the capitalists!) because markets oft en fail and offer no hope to the poor. Die hard capitalists insist that the markets will solve the problem of poverty. At the moment, Manmohan Singh is caught between the two.
India towards socialism during the early heady decades after independence; it is only since the 1980s that one has seen a fierce debate on the promises and perils of Marx versus markets. Die hard Marxists still insist that the State must play a larger role (even they have given up on workers overthrowing the capitalists!) because markets oft en fail and offer no hope to the poor. Die hard capitalists insist that the markets will solve the problem of poverty. At the moment, Manmohan Singh is caught between the two.Source : IIPM Editorial, 2006
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