The Indian Libertarian

Summary

The June 15, 1960 issue (Vol. VIII No. 6) of The Indian Libertarian, now subtitled an ‘Independent Journal of Economic and Public Affairs’ incorporating the ‘Free Economic Review’ and ‘The Indian Rationalist,’ opens with an editorial on Congress ‘revitalisation’ at the Poona AICC sessions and Nehru’s role there. It carries M. A. Venkata Rao on the collapse of the Paris summit, M. N. Tholal on the bright prospects of the new Swatantra Party, E. H. Potter’s critical appraisal of V. K. Krishna Menon, and A. Ranganathan on a decade of Sino-Indian disillusionment, alongside an Economic Supplement essay on capital accumulation and economic growth signed ‘Sputnik.’ The issue sustains the journal’s classical-liberal, anti-Communist line, championing the Swatantra alternative and free-enterprise economics against Congress planning and Nehruvian foreign policy.

Essays

Editorial

The editorial, ‘Congress Party Revitalisation: AICC Sessions at Poona,’ reviews the Congress party’s attempt at self-renewal at its Poona sessions following Nehru’s foreign tours. It reports dissatisfaction with the party High Command, the Hanumanthaiya proposal to broaden the Working Committee, and Nehru’s manoeuvring, treating the ‘revitalisation’ talk as largely futile and insincere.

• Reviews the Poona AICC sessions and Congress ‘revitalisation’ rhetoric
• Reports rank-and-file dissatisfaction with the party High Command
• Notes the Hanumanthaiya proposal and Nehru’s ambivalent role
• Reads the renewal effort as futile and insincere

Aftermath of the Summit

By MA Venkata Rao

M. A. Venkata Rao’s ‘Aftermath of the Summit’ assesses the collapse of the Paris summit between Khrushchev and the Western powers in the wake of the U-2 affair. He reads the breakdown as confirming the unreliability of Soviet coexistence and a hardening of Cold War lines.

• Analyses the collapse of the Paris summit and the U-2 crisis
• Reads Khrushchev’s conduct as exposing the limits of coexistence
• Sees the failure as a hardening of Cold War divisions

Swatantra’s Bright Chances

By M. N. Tholal

M. N. Tholal’s ‘Swatantra’s Bright Chances’ surveys the prospects of the newly formed Swatantra Party, reporting on its conference and organisation and arguing that the party has a genuine opening as a free-enterprise alternative to Congress. The piece engages the party’s leadership, including Rajaji and N. G. Ranga.

• Assesses the Swatantra Party’s electoral and organisational prospects
• Reports on the party’s conference and General Secretary
• Frames Swatantra as a credible free-enterprise alternative to Congress

Krishna Menon’s Achievements

By Mr. E. H. Potter

E. H. Potter’s ‘Krishna Menon’s Achievements’ is a sharply critical appraisal of Defence Minister V. K. Krishna Menon, questioning his record and reputation and treating his prominence as a liability rather than an achievement.

• Offers a critical assessment of V. K. Krishna Menon
• Questions his record as Defence Minister
• Reads his standing as more liability than achievement

Sino-Indian Relations—A Decade of Disillusionment

By A Ranganathan

A. Ranganathan’s ‘Sino-Indian Relations—a decade of disillusionment’ traces the deterioration of India-China relations over the 1950s, from the Panchsheel optimism to disillusionment over Tibet and the frontier. It treats Indian policy toward China as naive and argues the decade ended in justified disenchantment.

• Traces a decade of Sino-Indian relations to disillusionment
• Contrasts early Panchsheel optimism with the Tibet and border reality
• Criticises Indian policy toward China as naive

Economic Supplement

The Economic Supplement carries an essay, ‘Capital Accumulation and Economic Growth,’ signed with the pseudonym ‘Sputnik.’ It argues that economic development of underdeveloped countries turns on capital accumulation, weighing the role of saving, investment and private enterprise against state-directed growth, and includes a critique of Marx’s labour theory of value.

• Argues capital accumulation is central to development of poor countries
• Weighs saving and investment against state-directed growth
• Includes a critique of Marx’s labour theory of value
• Published pseudonymously under ‘Sputnik’

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