"Capitalism historically has been a very dynamic force, and behind that force is technical progress, innovation, new ideas, new products, new technologies, and new methods of managing teams"
About this Quote
Manmohan Singh’s praise of capitalism lands with the quiet authority of a man who spent his career translating ideology into balance sheets. Calling capitalism “historically…a very dynamic force” isn’t starry-eyed celebration; it’s a technocrat’s argument for legitimacy. The energy of the sentence comes from its accumulation: “technical progress, innovation, new ideas, new products, new technologies” - a cascading list that mimics growth itself. It’s rhetoric shaped like an engine: keep feeding it inputs and it keeps moving.
The subtext is political, not philosophical. Singh isn’t defending capitalism as a moral order; he’s defending it as a machine that delivers outcomes governments can claim. By rooting capitalism’s dynamism “behind” technical progress, he reframes markets as the handmaiden of modernization - a framing designed to soothe publics wary of inequality while reassuring investors that reform has an intellectual spine.
Context matters: Singh is inseparable from India’s 1991 liberalization, when crisis forced a rethinking of the old socialist consensus. In that light, the quote reads like a long-view justification of reform: not “we had no choice,” but “this is how history moves.” The final clause - “new methods of managing teams” - is a telling add-on. It widens capitalism from gadgets to governance, implying that the private sector doesn’t just invent products; it invents organizational competence. That’s a subtle rebuke to sclerotic bureaucracy, and a pitch for a state that partners with markets rather than trying to outdo them.
The subtext is political, not philosophical. Singh isn’t defending capitalism as a moral order; he’s defending it as a machine that delivers outcomes governments can claim. By rooting capitalism’s dynamism “behind” technical progress, he reframes markets as the handmaiden of modernization - a framing designed to soothe publics wary of inequality while reassuring investors that reform has an intellectual spine.
Context matters: Singh is inseparable from India’s 1991 liberalization, when crisis forced a rethinking of the old socialist consensus. In that light, the quote reads like a long-view justification of reform: not “we had no choice,” but “this is how history moves.” The final clause - “new methods of managing teams” - is a telling add-on. It widens capitalism from gadgets to governance, implying that the private sector doesn’t just invent products; it invents organizational competence. That’s a subtle rebuke to sclerotic bureaucracy, and a pitch for a state that partners with markets rather than trying to outdo them.
Quote Details
| Topic | Technology |
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