The word 'charaiveti', from an ancient Sanskrit hymn, means 'keep moving', in search of self-realization. The leading Indian economist and public intellectual Pranab Bardhan invokes this in his moving narrative of a personal and professional journey. From his beginnings in a poor neighbourhood in Kolkata and the idyllic days in Santiniketan, from being home-schooled by his father followed by a vigorous student life at Presidency College, Kolkata and in Cambridge, England, Bardhan rose to being among the foremost development economists in the world. After serving on the faculty of MIT, Indian Statistical Institute and Delhi School of Economics, he finally settled at the University of California, Berkeley. In the process he interacted closely interacted with the likes of James Meade, Joan Robinson, Paul Samuelson, Robert Solow, James Mirrlees, Joseph Stiglitz, George Akerlof, Jerry Cohen, Jon Elster, Amartya Sen, T.N. Srinivasan, K.N. Raj, Ashok Rudra, Mrinal Datta Chaudhuri, Sukhamoy Chakravarty, Ashis Nandy and Romila Thapar. In his memoir he provides a fascinating account of his richly varied and widely-travelled life, interwoven with thoughtful comments on politics and society both in India and abroad and on some major strands of international intellectual debates. These accounts are enlivened by a profusion of stories, anecdotes and amusing incidents, and draw copiously from his interests in literature and films. Witty, wise and perceptive, Charaiveti is more than just a memoir-it is a sharp-eyed look at where we have been and where we may be headed, as seen through the lens of a remarkable life.
Drawing on the latest findings in institutional economics and political economy, this text offers a non-technical discussion of current thinking on these issues from the viewpoint of poor countries.
The recent economic rise of China and India has attracted a great deal of attention. Yet, many of the views regarding their market reforms and high growth have been tendentious, exaggerated, or oversimplified. Awakening Giants, Feet of Clay scrutinizes the phenomenal rise of both nations and demolishes the myths that have accumulated around the economic achievements of these two giants in the last quarter-century. Exploring the challenges that both countries must overcome to become true leaders in the international economy, Pranab Bardhan looks beyond short-run macroeconomic issues to examine structures, and current general performance. Full of valuable insights, Awakening Giants, Feet of Clay provides a nuanced picture of China and India's complex political economy at a time of startling global reconfiguration and change.
An ambitious account of the corrosion of liberal democracy in rich and poor countries alike, arguing that antidemocratic sentiment reflects fear of material and cultural loss, not a critique of liberalism’s failure to deliver equality, and suggesting possible ways out. The retreat of liberal democracy in the twenty-first century has been impossible to ignore. From Wisconsin to Warsaw, Budapest to Bangalore, the public is turning against pluralism and liberal institutions and instead professing unapologetic nationalism and majoritarianism. Critics of inequality argue that this is a predictable response to failures of capitalism and liberalism, but Pranab Bardhan, a development economist, sees things differently. The problem is not inequality but insecurity—financial and cultural. Bardhan notes that antidemocratic movements have taken root globally in a wide range of demographic and socioeconomic groups. In the United States, older, less-educated, rural populations have withdrawn from democracy. But in India, the prevailing Hindu Nationalists enjoy the support of educated, aspirational urban youth. And in Europe, antidemocratic populists firmly back the welfare state (but for nonimmigrants). What is consistent among antidemocrats is fear of losing what they have. That could be money but is most often national pride and culture and the comfort of tradition. A World of Insecurity argues for context-sensitive responses. Some, like universal basic income schemes, are better suited to poor countries. Others, like worker empowerment and international coordination, have broader appeal. But improving material security won’t be enough to sustain democracy. Nor, Bardhan writes, should we be tempted by the ultimately hollow lure of China’s authoritarian model. He urges liberals to adopt at least a grudging respect for fellow citizens’ local attachments. By affirming civic forms of community pride, we might hope to temper cultural anxieties before they become pathological.
Traditional development economics has recently been revolutionized by the application of new economic tools and concepts. Development Microeconomics is the first in a series of books which will look at the entire spectrum of development economics issues, combining the strengths of conventional developmental thought with the insights of contemporary mainstream economics. The main new conceptual tool used is the application of the theory of imperfect information and the effects this has on the the behaviour of economic agents. This helps to explain why perfect competition models rarely have success when dealing with developing economies. The authors also stress the necessity of balance in dealing with many of the classic problems in development studiesthe importance of both the individual as economic agent and cultural norms as the framework of social behaviour; the dual relationship between equity and efficiency in economic policy-making; the importance of market rivalry and the potential of market breakdown. Designed specifically for graduate students, this book analyses the key microeconomic problems facing the very poorest sectors of developing economies. It utilises simple theoretical models, and is presented in a compact and analytical form. High technical sophistication is avoided, and the only pre-requisite is some familiarity with the tools of general microecomic theory at a first-year graduate or advanced undergraduate level.
This wide-ranging review of some of the major issues in development economics focuses on the role of economic and political institutions. Drawing on the latest findings in institutional economics and political economy, Pranab Bardhan, a leader in the field of development economics, offers a relatively nontechnical discussion of current thinking on these issues from the viewpoint of poor countries, synthesizing recent research and reflecting on where we stand today. The institutional framework of an economy defines and constrains the opportunities of individuals, determines the business climate, and shapes the incentives and organizations for collective action on the part of communities; Pranab Bardhan finds the institutional framework to be relatively weak in many poor countries. Institutional failures, weak accountability mechanisms, and missed opportunities for cooperative problem-solving become the themes of the book, with the role of distributive conflicts in the persistence of dysfunctional institutions as a common thread. Special issues taken up include the institutions for securing property rights and resolving coordination failures; the structural basis of power; commitment devices and political accountability; the complex relationship between democracy and poverty (with examples from India, where both have been durable); decentralization and devolution of power; persistence of corruption; ethnic conflicts; and impediments to collective action. Formal models are largely avoided, except in two chapters where Bardhan briefly introduces new models to elucidate currently under-researched areas. Other chapters review existing models, emphasizing the essential ideas rather than the formal details. Thus the book will be valuable not only for economists but also for social scientists and policymakers.
This wide-ranging review of some of the major issues in development economics focuses on the role of economic and political institutions. Drawing on the latest findings in institutional economics and political economy, Pranab Bardhan, a leader in the field of development economics, offers a relatively nontechnical discussion of current thinking on these issues from the viewpoint of poor countries, synthesizing recent research and reflecting on where we stand today. The institutional framework of an economy defines and constrains the opportunities of individuals, determines the business climate, and shapes the incentives and organizations for collective action on the part of communities; Pranab Bardhan finds the institutional framework to be relatively weak in many poor countries. Institutional failures, weak accountability mechanisms, and missed opportunities for cooperative problem-solving become the themes of the book, with the role of distributive conflicts in the persistence of dysfunctional institutions as a common thread. Special issues taken up include the institutions for securing property rights and resolving coordination failures; the structural basis of power; commitment devices and political accountability; the complex relationship between democracy and poverty (with examples from India, where both have been durable); decentralization and devolution of power; persistence of corruption; ethnic conflicts; and impediments to collective action. Formal models are largely avoided, except in two chapters where Bardhan briefly introduces new models to elucidate currently under-researched areas. Other chapters review existing models, emphasizing the essential ideas rather than the formal details. Thus the book will be valuable not only for economists but also for social scientists and policymakers.
Textbook on land economics, rural workers, agricultural credit, production relations and rural area poverty, with reference to India - examines peasant farmer labour supply, labour force participation of woman workers, measurement of unemployment, labour demand of agricultural workers, wages, labour-tying, and bonded labour, sharecropping and tenancy issues, social stratification and children mortality; discusses land ownership as an obstacle to irrigation-based agricultural development. Graphs, references, statistical tables.
A development economist with roots in India and the United States offers a short but deep and ambitious account of the corrosive effects of economic and cultural insecurity on liberal democracy in rich and poor countries alike. His diagnosis: the problem is not inequality or capitalism, but snowballing fear of material and cultural loss"--
This book provides an analysis of the urban government system in Bangladesh, focusing on its upper tier, the City Corporation (CC), and the institutional and legal frameworks within which it operates. Along with a discussion of the scale and magnitude of urbanization, the book presents a comprehensive analysis of the reform agendas of CCs including their functional assignments, local political leadership, local control over administration and service delivery, local fiscal autonomy and local financial management, and local participation and accountability mechanisms. Very few efforts have been taken to analyze the comprehensive reform agenda required to make the CCs effectively discharge their duties and responsibilities in the context of Bangladesh. This book therefore not only fills this gap in the literature, but also provides recommendations on each reform agenda.
The recent economic rise of China and India has attracted a great deal of attention. Yet, many of the views regarding their market reforms and high growth have been tendentious, exaggerated, or oversimplified. Awakening Giants, Feet of Clay scrutinizes the phenomenal rise of both nations and demolishes the myths that have accumulated around the economic achievements of these two giants in the last quarter-century. Exploring the challenges that both countries must overcome to become true leaders in the international economy, Pranab Bardhan looks beyond short-run macroeconomic issues to examine structures, and current general performance. Full of valuable insights, Awakening Giants, Feet of Clay provides a nuanced picture of China and India's complex political economy at a time of startling global reconfiguration and change.
Textbook on land economics, rural workers, agricultural credit, production relations and rural area poverty, with reference to India - examines peasant farmer labour supply, labour force participation of woman workers, measurement of unemployment, labour demand of agricultural workers, wages, labour-tying, and bonded labour, sharecropping and tenancy issues, social stratification and children mortality; discusses land ownership as an obstacle to irrigation-based agricultural development. Graphs, references, statistical tables.
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