India after Gandhi: The History of the World's Largest Democracy

by Ramachandra Guha

The US had not loomed large in Nehru’s political imagination. His Glimpses of World History, for example, devotes far less space to it than to China or Russia. And what he says is not always complimentary. The capitalism of the American kind had led to slavery, gangsterism, and massive extremes of wealth and poverty. The American financier J. Pierpont Morgan owned a yacht worth £6 million, yet New York was known as ‘Hunger Town’. Nehru admired Roosevelt’s attempts at regulating the economy, but he was not hopeful that FDR would succeed. For ‘American Big Business is held to be the most powerful vested interest in the modern world, and it is not going to give up its power and privileges merely at the bidding of President Roosevelt’.