Jagdish bhagwati and arvind panagariya

Correspondence to G. Reprints and permissions. Manish, G. Jagdish Bhagwati and Arvind Panagariya, Why growth matters: How economic growth in India reduced poverty and the lessons for other developing countries. Rev Austrian Econ 28— Download citation. Published : 14 November Issue Date : June Vivek Kumar. The book asserts that growth of per capita income is important to eradicate poverty and inequality.

The book has tried its best to bust the myths associated with the downsides of an open economy but as a reader, I didn't find it effective as the arguments are weak and open ended at times. Too many references in the text itself make the process of reading cumbersome. I expected more areas of reform to be mentioned in the text which was a bit disappointing.

Meir Brooks. Informative, but far too sure of itself and dismissive of those who disagree with its central thesis. Tobi Lawson. Magnificent book. A simple and carefully argued defense of economic growth policies using India's history, and policy climate. An important addition to the toolbox of policymakers and analysts alike in a world where ideological goals and false empirical standards now dominate development thinking.

The economic narrative is very much appreciated, and the reasoning makes sense. Paul Colver. I read his book In Defense of Globalization. Bhagwati deals with each tick box by box. On the basis of research. It is not to say their are not problems but clearly most have been distorted. I m never sure what the alternative to world trade is. The argument that we can somehow get along with no rule of law i.

T wants - just aren't conducive to peace. Rishabh Shukla. The book gives a very compelling argument about why reform driven growth is important and how it can dispel poverty and lead to a more equitable if not perfectly equal distribution of wealth. Dr Bhagwati starts with explaining why Indira Gandhi's policy of nationalization and complete state control over industry bad and how reforms do exactly what the pre Prime ministers tried to achieve through their restrictive industrial policies.

He then leads to what are the different set of reforms that any developing economy in general and India in particular must carry out to make the transition from a poor developing economy to a dynamically growing economy. The authors also provide an analysis and pitfalls of recent Right to education and Food security bills brought up by the incumbent Indian government.

Jagdish bhagwati and arvind panagariya

Unlike what media made out of Dr Bhagwati's argument against Amartya Sen or at least what I understoodDr Bhagawati too advocates government driven social welfare schemes to pull up the poorest of poor out of poverty and bring them to a level where they can sustain themselves and grow. All in all, the book looks like a ready-made economic policy guide for developing nations and does a very good job of covering the development strategy for various aspects like economy, human jagdish bhagwati and arvind panagariya index, education and infrastructure of what constitutes a developed nation.

The book has been divided into three parts. First part details the authors' replies to the myths being perpetuated in recent times regarding the economic policies followed since independence. Second part deals with reform measures suggested by the authors to take India to a higher growth trajectory so that social goals can be achieved. Third part deals with reform measures in the socio-economic policies and how the goal of welfare of the people can be achieved.

In my opinion the first part is the weakest in terms of the arguments put forth by the authors. Some of the myths that they seem to bust are not so serious or compelling that they deserve a mention here. But after that the book attains a completely different level in terms of the content and arguments put forth by the authors. The third part is also excellent in terms of measures suggested but i think more could have been written.

Maybe the authors kept it short in the hope that the measures for growth as suggested by them are adopted and succeed, and then the enhanced revenues will enable us to think of newer measures for the welfare of the people. Overall a good read. Bob Duke. Well researched and backed with statistics. It shows how the socialist model of Indira Ghandi's Congress Party impeded growth in India and unnecessarily kept the poorest in crushing poverty.

It shows how the liberalization of the economy since has reduced poverty and enhanced the lives of many Indians. I must point out that the book argues for liberal markets not libertarian ones. A more productive economy provides an income stream that the government can use to help those at the bottom. It is pointed out in this book that the measures adopted by India to reduce poverty previously had been both inefficient and ineffective.

The book argues for increasing liberalization of the economy, free trade and the application of bio technology. Much of this book will be unpalatable reading to the left but read it they should. To revert to failed policies of the past is the clarion call of much of the left today. This call is often made by the well fed chattering classes of the developed world.

The prescriptions that they have proposed have been abandoned in many countries leading to the stunning economic transformation of countries such as Korea, Vietnam, China and others. Kritarth Jha. This tiny little book has a very succinct message: Growth matters. There is a lot of optimism in this book compared with the objective bleakness of Jean Dreze's "An Uncertain Glory".

It's arranged in such a way that you have some myths being debunked: essentially saying that the notion that growth hasn't touched all parts of India. It has; and even if it hasn't redistribution to do so can only happen once the pie is made larger. It then goes on to talk about what reforms the government must make in two broad categories: Tier 1 and Tier 2.

The first category directly affecting growth like allowing FDI, labour and land reforms etc. Bhagwati stresses a lot on reforms to be undertaken by the government, as one sure way to ensure prolonged periods of growth. All in all, a short read that you can definitely give a day to. Palash Bansal. From the defence perspective, not a very convincing one, though some points and arguments were well framed and logically expressed.

From the attacking perspective, a very cheap attempt must say. Their stringent stand against Sen and Dreze were not very well encapsulated and leaves the reader wondering how such emminent scientists get involved in a cat fight!! Overall I liked their expression of various facets of Indian economy and of growth in general. Though I do not subscribe to their view fully.

It certainly made an impact on me, from the view that it did change my mindset towards the importance of growth. Would be interesting to read one of Sens and Drezes book now! Zahen Khan. Conceptually, this is a pure neo-liberal case for free-market reform, which the authors set up by pointing out that Nehru's the symbol of the Indian left father sent his laundry to Paris.

The problem is that it reads like an academic paper that is slightly divorced from ground reality. There's also a lot of mental gymnastics where India is constantly compared to China but India is democratic! A plus point is that there is a lot of raw data to sift through to draw your own conclusions, though there is nothing informative about the authors recommendations.

A balanced book. Bhagwati and Panaghariya offer both a pat on the back and a deserved rebuke. For Indians who think we have achieved nothing as a nation in last six decades, the book offers an almost satisfying response with hard facts and figures. For Indian who feel there is no hope from here but only a dark gutter, the book tries to offer solutions.

The book both criticizes and proposes solutions. The only flaw that I felt throughout the book was that because of their intense support for an open market based economical system, sometimes the analysis went overboard and missed some practical aspects. Overall, a brilliant analysis by two brilliant economists. Debunking the myths - yes true in some caseshowever some of the listed 'myths' do not logically categorize as a myth.

Why would anybody want to believe this and why would anybody spend effort on explaining that it is a myth! Anybody who knows the post-colonial status of India would evidently know that growth is required. However good proposals towards the way forward for India, though there is a an impression of blind belief in privatization assuming public systems are and will ever be that efficient.

Rajtanil Solanki. It boldly negates the myths deliberately created to support particular ideology which sometimes not always fit to create economic prosperity. The obsession to particular ideology to create an utopian world of egalitarian society does not seems to have patience to even generate the resources for it, thus they end up or are satisfied by creating uniformly deprived societies.

The book awakens us to undo the historical blunders committed over the years. Varang Kapadia. The book correctly debunks a lot of myths that has lynched over the Indian Economy. It also rubbishes the mediocre and baseless viewpoints of certain policy makers in the country. It provides a solid statistical model for each myth getting debunked. Overall an person with economics curiousity will love it!

The book is a bit leftist, supports a jagdish bhagwati and arvind panagariya party in an unsaid way so don't let it form an impression on you. Warrier Fareed Zakaria. Balasubrahmanyam Rajashree Birla M. Buch C. Srikantan Raghavan Thirumulpad. Suresh H. Advani Shabana Azmi Homi K. Goenka M. Gopalakrishnan T. Mujumdar B. Raghunathan P. Subbiah N.

Vittal N. Wadia George Yeo. Satya N. Sivathanu Pillai D. Ramanaidu Kanak Rele V. Kaul Neelam Kler M. Verma T. Gopalaswami Subhash C. Ravindra Chandra Bhargava Robert D. Ramanuja Tatacharya A. Rama Rao D. Sutar Tejomayananda. John T. Shunglu Hukmdev Narayan Yadav. Posthumous conferral — — — — — — — — Authority control databases. Toggle the table of contents.

Arvind Panagariya. Assumed office 30 April Vijay Pandurang Bhatkar. In office — In office 5 January — 31 August Rajiv Kumar. Ashok Panagariya brother.