Abstract
Economic self-sufficiency relies upon the ‘Rechtsstaat’ principle, or the rule of law, which reinforces the important attributes of liberal democracy i.e., upward control and political equality based on empirical research. The existence of far-right politics may seem implausible within liberal democracies due to endogenous variables, including power contestation, institutional malpractice, and corruption. Rather than accepting the marginalization of a subdued economic sector, liberal democracies require an in-depth research on the economic policies of coordination and collaboration to ensure their long-term survival. Scrutinizing the chronological development of far-right politico-economic trends reveals that a nation’s survival depends upon democratic choices rather than fascist behaviour. Merely incremental advancements in nationalistic trends, including monopolization within the economic sector, can imperil a state’s development. For instance, India is a large developing economy with options for experimentation and introducing new marketing trends, according to an international survey of safe market zones. Some of the world’s largest retailers, such as “Best Buy”, “Walmart” and “Amazon” have invested in India. In this paper, India’s operation under the shadow of market capitalism is compared to the interventionist approach applied under a far-right political agenda. This case study analyses a real-world politico-economic situation and provides a triangulated argument for understanding the implications for the future of liberal democracy in the modern world.
Keyword(s)
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