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     Getafix Hero Username: Getafix Post Number: 12827 Registered: 02-2008 Posted From: 151.151.109.20 Rating: N/A |
Mint - indian financial news paper went a step ahead and said Bhagwati vs sen views will shape 2014 elections http://www.livemint.com/Politics/LKb8rZi6t6t7TRYOVKKKyH/Gand hi-vs-Modi-is-actually-Sen-vs-Bhagwati.html Gandhi -vs- Modi is actually Sen vs Bhagwati. The debate between the two is an intricate one. But a simplified version would be as follows: Bhagwati believes that strong economic growth has directly improved the lives of poor Indians while Sen argues that India’s successful growth record has been tarnished by abysmal levels of human development. The solutions also differ. Bhagwati has been a strong votary of free markets, and was a critic of Indian economic policy as far back as 1969. Sen is more statist in comparison. Bhagwati argues that India needs reforms to push growth. Sen believes growth is meaningless without government spending on human capabilities. In a powerful speech he gave to Indian parliamentarians in 2010, Bhagwati argued that it was a myth that reforms had not helped the poor. He said: “Politicians would do well to strengthen the conventional reforms, which I call Stage 1 reforms, by extending them to the unfinished reform agenda of the early 1990s. In particular, further liberalization of trade in all sectors, substantial freeing up of the retail sector, and virtually all labour market reforms are still pending. Such intensification and broadening of Stage 1 reforms can only add to the good that these reforms do for the poor and the underprivileged… These conventional reforms have also generated revenues which can finally be spent on targeted health and education so as to additionally improve the well-being of the poor: these are what I call Stage 2 reforms which were, let me remind you, in the minds of our earliest planners.” Now compare this with what Sen wrote in an article published this month in The New York Times, once again warning against an overarching obsession with economic growth: “For years, India’s economic growth rate ranked second among the world’s large economies, after China, which it has consistently trailed by at least one percentage point. The hope that India might overtake China one day in economic growth now seems a distant one. But that comparison is not what should worry Indians most. The far greater gap between India and China is in the provision of essential public services—a failing that depresses living standards and is a persistent drag on growth.” The Bhagwati-versus-Sen debate bubbles up to the surface every now and then, drawing others into the fray. One prime example is an online debate in 2011—illuminating and entertaining in equal measure—that drew contributions from several top economists, after Sen told the Financial Times, soon after the Bhagwati lecture in defence of reforms, that it was “very stupid” to focus so heavily on growth while India had such high levels of malnutrition." | ||
| Getafix Hero Username: Getafix Post Number: 12826 Registered: 02-2008 Posted From: 151.151.109.20 Rating: N/A |
Two famous economists from desam fisting each other. http://blogs.wsj.com/indiarealtime/2013/07/26/the-friday-bri efing-battle-of-the-economists/ Interesting note - how their opposite stands on india's development transpired their not so open political stands. Bhagwati praised Modi governance while Sen said Modi in unfit for PM. opika unte aa link ni sadvandi.. that link has numerous links to other articles inwhich both have gutted out at each other. |
