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When I was in high school, my economics class read The End of Poverty by Jeffrey Sachs. The book is a passionate appeal to help those living in the worst poverty in the world. Sachs writes that we should not worry too much about the people in second-to-last place, such as the poorly paid workers in labor-intensive industries who were then the focus of considerable debate and activism on U.S. college campuses. Sweatshop workers, Sachs conceded, were on the bottom rung of the ladder. But subsistence farmers were not on the ladder at all. Once we helped them get a foothold, they could begin ascending from textiles all the way up to high tech. I internalized Sachsâs argument, sensing it would help me feel better about the world we live in. ....
Mainstream Mainstream, VOL LIX No 7, New Delhi, January 30, 2021 Faces in mirror held up by farmers’ protest | Amit Bhaduri Friday 29 January 2021 by Amit Bhaduri They are showing how wrong we all were in our pessimism and giving the ordinary people a chance for all to unite and reclaim rights The decisive Battle of Plassey that gave the East India Company its foothold in India and established its rule was lost not for lack of battlefield valour but because of the treachery of a military general. An African saying warns: “An army of sheep led by a lion can defeat an army of lions led by a sheep.” ....
âThe essays in this volume are refreshingly different in their tone and mode of analysis. Using a few basic concepts like rent, balance of class power, and wage-led growth through mass consumption, the author provides a multi-dimensional explanatory framework for development. With impressive scholarship, he links history, economics and sociology seamlessly with country-based observations. Whether in agreement or not, the reader, an experienced researcher or an aspiring scholar, will feel greatly rewarded by the insightful freshness of these essays.â â Amit Bhaduri, Professor Emeritus, Jawaharlal Nehru University, New Delhi, India âOne of my greatest revelations as a young scholar came when I read Hartmut Elsenhansâ 1983 article âRising Mass Incomes as a Condition of Capitalist Growthâ. I had been studying (and have remained interested in) the reformist âglobal Keynesianâ proposals for a New International Economic Order (NIEO ....
New Delhi: Oxford University Press, 2019; pp xx + 295, ₹ 895. Oxford: Oxford University Press, 2019; pp xxiv + 577, price not indicated. Asia’s Journey to Prosperity: Policy, Market, and Technology Over 50 Years by Asian Development Bank, Manila: ADB, 2020 (ebook), http://dx.doi.org/10.22617/TCS190290.
The transformation of Asia from its status as the most impoverished region to the growth locomotive of the world economy within five decades is unprecedented and nothing short of a miracle. The achievement seems all the more profound when juxtaposed with a very pessimistic outlook of Asia’s development prospects made by Gunnar Myrdal in his three-volume tome Asian Drama: An Inquiry into the Poverty of Nations, published in 1968. ....