THE fourth factor impinging on caste-contradictions in a neo-liberal economic regime arises from the tendency of this regime to get into crises and periods of prolonged stagnation. Growth under a neo-liberal regime depends essentially upon the formation of “bubbles” in asset prices. When such bubbles get formed, especially in the economy of the United States, which is the leading capitalist power in the world, the entire world capitalist system, and with it Indian capitalism as well, experiences high growth.