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Awakening Giants, Feet of Clay
The recent economic rise of China and India has attracted a great deal of attention--and justifiably so. Together, the two countries account for one-fifth of the global economy and are projected to represent a full third of the world's income by 2025. Yet, many of the views regarding China and India's market reforms and high growth have been tendentious, exaggerated, or oversimplified.Awakening Giants, Feet of Clayscrutinizes 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 and compare China and India's major policy changes, political and economic structures, and current general performance.
Bardhan investigates the two countries' economic reforms, each nation's pattern and composition of growth, and the problems afflicting their agricultural, industrial, infrastructural, and financial sectors. He considers how these factors affect China and India's poverty, inequality, and environment, how political factors shape each country's pattern of burgeoning capitalism, and how significant poverty reduction in both countries is mainly due to domestic factors--not global integration, as most would believe. He shows how authoritarianism has distorted Chinese development while democratic governance in India has been marred by severe accountability failures.
Full of valuable insights,Awakening Giants, Feet of Clayprovides a nuanced picture of China and India's complex political economy at a time of startling global reconfiguration and change.
eBook
Corporate governance : history, evolution, and India story
\"With the increasing awareness that mere economic and production-based explanations do not adequately describe the motivations for governance, researchers have focused on the behavioral side of the firm performance to justify the economic rationale of their typical behaviours. This book describes the concept of corporate governance, its emergence and the contemporary thinking around it. With emphasis on \"conflicts of interests\" assumed to be related to the theory of separation of ownership and control, the book delves into topics such as insider trading, excessive executive compensation, managerial, expropriation of shareholders' wealth, false reporting, accounting non-disclosures and self dealing.\"--Publisher's website.
Book
Navigating austerity : currents of debt along a South Asian river
Navigating Austerity addresses a key policy question of our era: what happens to society and the environment when austerity dominates political and economic life? To get to the heart of this issue, Laura Bear tells the stories of boatmen, shipyard workers, hydrographers, port bureaucrats and river pilots on the Hooghly River, a tributary of the Ganges that flows into the Bay of Bengal and Indian Ocean. Through their accounts, Bear traces the hidden currents of state debt crises and their often devastating effects.
Taking the reader on a voyage along the river, Bear reveals how bureaucrats, entrepreneurs and workers navigate austerity policies. Their attempts to reverse the decline of ruined public infrastructures, environments and urban spaces lead Bear to argue for a radical rethinking of economics according to a social calculus. This is a critical measure derived from the ethical concerns of people affected by national policies. It places issues of redistribution and inequality at the fore of public and environmental plans. Concluding with proposals for restoring more just long term social obligations, Bear suggests new practices of state financing and ways to democratize fiscal policy. Her aim is to transform sovereign debt from a financial problem into a widely debated ethical and political issue. Navigating Austerity contributes to policy studies as well as to the understanding of today's global injustices. It also develops new theories about the significance of state debt, speculation and time for contemporary capitalism. Sited on a single body of water flowing with rhythms of circulation, renewal and transformation, this ambitious and accessible book will be of interest to specialists and general readers.
eBook
Neoliberalism and the Transforming Left in India
iWest Bengal has often been perceived as somewhat of an aberration in the wider context of a rather chaotic Indian democracy, as the erstwhile Left Front government of the state (spearheaded by the Communist Party of India-Marxist, CPIM) demonstrated a rare instance of political stability, decisively winning seven consecutive democratic elections from 1977 to 2006. Its development record has also been substantial, with a focus on land reforms, the panchayati-raj institution, and an agriculture-centric development agenda.
This book presents a reappraisal of the political economic history of the CPIM/Left Front regime against the backdrop of the Indian reform experience. It examines two distinct areas: the conditions that necessitated the regime to engineer a transition from an erstwhile agricultural-based growth model to a more pro-market economic agenda post-1991, and the political strategy employed to manage such a transition, attract private capital and at the same time sustain the regime’s traditional rhetoric and partisan character. In order to develop a more textured understanding of the recent political developments in West Bengal, the author applies a historically nuanced and inductive political-economic analysis, which draws on published materials, and primary material such as government documents and interviews (with bureaucrats, political activists, members of the intelligentsia and ministers).
A valuable contribution to the ongoing debate in the literature on the drifts underway with the Indian Left and India’s economic transformation post-1990s, this book will be of interest to academics in the field of Political Science, Government, Political Economy and South Asian Studies.
eBook
India
Part of Zed's World Political Theories series, this remarkable work that offers a revealing glimpse of the social and political life of contemporary India, and how it differs from the dominant liberal paradigm.
eBook
Rethinking Economic Change in India
As author of the hugely influential The Economic History of India 1857-1947 , Tirthankar Roy has established himself as the leading contemporary economic historian of India. Here, Roy turns his attention to labour and livelihood and the nature of economic change in the Subcontinent. This book covers:
economic history of modern India
rural labour
labour-intensive industrialization
women and industrialization.
Challenging the prevailing wisdom on Indian economic growth - that it is bound up with Marxian, postcolonial class analysis - Roy formulates a new view. Commercialization, surplus labour and uncertainty are seen as equally important and the end result reconciles the increasingly opposed view of economists and historians.
1. Introduction 2. Economic History of Modern India 3. Economic History of Modern India: Defining the Link 4. Rural Labour and 'De-Peasantization' 5. Rural Labour: Lessons of Wage Data 6. Was there an Industrial Decline in the early Nineteenth Century? 7. Labour-Intensive Industrialization 8. Women and Industrialization 9. Conclusion
eBook