Article

Distributive Conflicts and Indian Economic Policy: Some Notes On Political Economy

Pranab Bardhan

in The Oxford Handbook of the Indian Economy

Published in print March 2012 | ISBN: 9780199734580
Published online November 2012 | | DOI: http://dx.doi.org/10.1093/oxfordhb/9780199734580.013.0019

Series: Oxford Handbooks

 Distributive Conflicts and Indian Economic Policy: Some Notes On Political Economy

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This article discusses political economy issues that arise from distributive conflicts and that govern economic policy in India. The article notes that contrary to popular perception, India may be one of the most unequal societies in the world when land and education inequality are so considered. Further, because the Gini coefficient in India is based on consumption expenditure, it tends to understate inequality because the rich tend to save more than the poor. The article then asks whether inequality matters for economic growth and argues that it clearly does, implying that equity and efficiency often go together, contrary to the opposite presumption of much of mainstream economics. The article essentially gives a qualitative and broad account of the different types of distributive conflicts that have become prominent in the process of economic development in India and how their influence will shape the nature of problems that afflict economic policy making and implementation.

Keywords: political economy; economic policy making; Gini coefficient; Indian economy; distributive conflicts; education inequality

Article.  4380 words. 

Subjects: Economics ; Economic Development and Growth ; Financial Markets

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