Archive for July 10th, 2013

The economic (negative) consequences of Professor Amartya Sen

July 10, 2013

It was amazing and unimaginable to see Sachin Tendulkar being howled at his home stadium – Wankhade sometime back.

It is equally amazing to see the negative coverage Prof. Amartya Sen and his camp is getting these days. Well getting criticism from the academic junta in academic press is part and parcel of the profession. But to see it in mainstream media and pretty regularly at that is amazing.

Arvind Subramanian of PIIE writes a nice piece on the topic. He points how Prof. Sen’s several rights and entitlement programs have craeted an economic mess in India. As Niranjan pointed in a brilliant piece that UPA’s economic (read political) strategy is hugely influenced by Prof Sen’s work.  So the economic faultlines have appeared mainly because of following Sen camp:

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RaGa vs NaMo is like Sen vs Bhagwati

July 10, 2013

Niranjan Rajadhyaksha nicely converts the crazy RaGa/NaMo political debate into an economics one. In many ways it is opposite of what we are figuring these days. We are being told that most econ actions etc have a political angle to it. Here the political actions are based on econ thoughts..

He says RaGa philosophy is largely drawn from Sen camp and NaMo from Bhagwati camp. Former believes growth is useless without lowering inequality and latter says growth auto leads to lower inequality.

Bhagwati versus Sen may not have the same resonance as Modi versus Gandhi, but behind the political fight scheduled for 2014 is a duel of economic ideologies.

The protagonists of this cerebral combat are Jagdish Bhagwati and Amartya Sen, without a shred of doubt two of the finest Indian economists ever. The political hue to the intense debate between the two old friends of Manmohan Singh is another reason why the ongoing intellectual scuffle between the two brilliant economic minds deserves to be followed.
Well as Keynes said way back:
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