An economist in the real world : the art of policymaking in India /
"In December 2009, the economist Kaushik Basu left the rarefied world of academic research for the nuts and bolts of policymaking. Appointed by the then Prime Minister of India, Manmohan Singh, to be chief economic adviser (CEA) to the Government of India, Basu -- a theorist, with special inter...
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| Format: | Book |
| Language: | English |
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Cambridge, Massachusetts :
MIT Press,
[2015]
Cambridge, Massachusetts : The MIT Press, [2015] Cambridge, Massachusetts ; London, England : [2015] |
| Subjects: |
Table of Contents:
- Arriving in Lutyens's Delhi
- India's growth story: stagnation, crisis, and takeoff
- Inflation: the emperor of economic maladies
- Fiscal and other macroeconomic policies for an emerging economy
- Gobalization and the challenge of development
- Food and poverty
- The nuts and bolts of the economy
- Law and econmics
- The social and organizational foundations of economic development
- The road ahead
- note: 1 Arriving in Lutyens's Delhi
- From the Slopes of Raisina Hill
- Speaking in Subsequences: The Extended Sen Rule
- 2. India's Growth Story: Stagnation, Crisis, and Takeoff
- Delicious Bengali Dishes
- Coffee House at the Delhi School of Economics
- Intellectual Roots of the Economy
- Growth Trajectory
- Crisis as Opportunity
- Growth Surge
- Gathering Storm: The Global Financial Crisis and Its Fallout
- Tea Leaves
- 3. Inflation: The Emperor of Economic Maladies
- Understanding Inflation, Understanding Deflation
- Inflation in India and the World
- Interest Rates and Liquidity
- Benefits for the Poor and Inflation
- Salad Bowl Stagflation
- 4. Fiscal and Other Macroeconomic Policies for an Emerging Economy
- "Repo" Mishap
- Fiscal Policy in the Emerging Economy
- Infrastructural Investment and Government Guarantees
- Exchange Rate Management
- Managing and Predicting Macro Parameters: A Conundrum
- 5. Globalization and the Challenge of Development
- Tips to Industrialized Nations
- Poverty, the Sharing of Prosperity, and Policy
- Inequality and Taxation
- Globalization and the Taxation Game
- 6. Food and Poverty
- Challenge of Poverty
- Food Buffers
- India's Food Grain Market: Description
- Theory of Food Market Intervention
- Redesigning India's Food Grains Policy: Price Stabilization
- Food Security for the Vulnerable
- 7. Nuts and Bolts of the Economy
- O-Rings
- Contracts and Pareto
- Finance and Development
- Ponzis
- 8. Law and Economics
- Preamble
- Corruption and the Law
- Law's Responsibility
- Law as Focal Point
- Postscript
- 9. Social and Organizational Foundations of Economic Development
- Critical Flaw
- Guarding the Jewelry and Stealing in the Bazaar
- Utilizing Norms and Modifying Norms
- Teacher Absenteeism in India
- Sociology of Bureaucracy
- 10. Road Ahead
- India's Prospects
- Striking Gold with Higher Education
- Invisible Hand, Markets, and Interventions
- Development without Borders.
- 1 Arriving in Lutyens's Delhi 1
- From the Slopes of Raisina Hill 1
- Speaking in Subsequences: The Extended Sen Rule 4
- 2 India's Growth Story: Stagnation, Crisis, and Takeoff 9
- Delicious Bengali Dishes 9
- The Coffee House at the Delhi School of Economics 10
- Intellectual Roots of the Economy 11
- The Growth Trajectory 18
- Crisis as Opportunity 26
- Growth Surge 31
- Gathering Storm: The Global Financial Crisis and Its Fallout 36
- The Tea Leaves 40
- 3 Inflation: The Emperor of Economic Maladies 45
- Understanding inflation, Understanding Deflation 45
- Inflation in India and the World 48
- Interest Rates and Liquidity 53
- Benefits for the Poor and Inflation 61
- Salad Bowl Stagflation 63
- 4 Fiscal and Other Macroeconomic Policies for an Emerging Economy 67
- A "Repo" Mishap 67
- Fiscal Policy in the Emerging Economy 68
- Infrastructural Investment and Government Guarantees 72
- Exchange Rate Management 74
- Managing and Predicting Macro Parameters: A Conundrum 81
- Globalization and the Challenge of Development 85
- Tips to Industrialized Nations 85
- Poverty, the Sharing of Prosperity, and Policy 90
- Inequality and Taxation 92
- Globalization and the Taxation Came 95
- 6 Food and Poverty 99
- The Challenge of Poverty 99
- Food Buffers 101
- India's Food Grain Market: Description 105
- Theory of Food Market Intervention 106
- Redesigning India's Food Grains Policy: Price Stabilization 110
- Food Security for the Vulnerable 112
- 7 The Nuts and Bolts of the Economy 119
- O-Rings 119
- Contracts and Pareto 121
- Finance and Development 125
- Ponzis 129
- 8 Law and Economics 135
- Preamble 135
- Corruption and the taw 136
- Law's Responsibility 142
- Law as Focal Point 148
- Postscript 155
- 9 The Social and Organizational Foundations of Economic Development 157
- A Critical Flaw 157
- Guarding the Jewelry and Stealing in the Bazaar 158
- Utilizing Norms and Modifying Norms 160
- Teacher Absenteeism in India 163
- The Sociology of Bureaucracy 166
- 10 The Road Ahead 171
- India's Prospects 171
- Striking Gold with Higher Education 176
- The Invisible Hand, Markets, and Interventions 182
- Development without Borders 186