New Books In South Asian Studies

In Toward a Free Economy: Swantantra and Opposition Politics in Democratic India (Princeton University Press, 2023), Aditya Balasubramanian charts the birth and rise of a political ideology rooted in the tenets of ‘free market’ economics, and the loosely associated ideas of neoliberalism, conservatism, and libertarianism. Balasubramanian offers an altogether fresh origin story for this movement that is often framed as a Cold War North Atlantic export to the rest of the poorer, developing world championed by the International Monetary Fund backed Washington consensus. In his compellingly told and richly layered account, we are not only given one of the few comprehensive histories of the Swantantra (“Freedom”) Party and its tryst with democratic electoral politics in newly independent India, but we are also shown how the most important facets of this moment in history cannot simply rely on a narrative woven around party politics. This results in a focus on what Balasubramanian calls “economic consciousness,” an