Friday, January 24, 2020
Home > Indian Economy > Why Is India Not Prosperous? | Atanu Dey | Indian Economic Policies

Why Is India Not Prosperous? | Atanu Dey | Indian Economic Policies

Exactly what’s with Indians, if we are Indian stupid people. I don’t think so because Indians do very well wherever they will, wherever they go. So that’s also not true. So I submit to you that, maybe it’s the government, it’s the government and the rules of the game that the government imposes on us and nations, like I said, differ in the rules that they follow. So people behave differently under different institutional settings and institutional economics is a very important part of our job and basically we study how different people behave differently and the outcomes are different. So the government control of the economy is what is given into the Constitution. The Constitution allows the government to interfere in the economy and when the government interferes in the economy, it politicizes the economy, the decisions are made based on political reasons, not for rational economic reasons and the politicization of the economics leads to the corruption of politics and the corruption of policies leads to bad policies because the policymakers are not there to make good policies. They don’t know what good policy is, they are there to line their own pockets and that leads to the Immiseration of the people.

So that, in short, is the simple answer to why is India poor and India is poor and they are told India to Indians, are told, India became free, India has democracy but the freedom and democracy are very, very weakly linked. Firstly, democracy doesn’t mean freedom and the India became independent in 1947. But it never became free because the same rules existed during the British Raj existed afterwards. So if Indians became free post 1947, then there you have to ask why don’t you think Indians were free pre 1947.

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