Alternative policy imagination for anti-toxic Indian development

Amit Bhaduri ()

Brazilian Journal of Political Economy, 2024, vol. 44, issue 3, 385-396

Abstract: Worsening joblessness in India is put forward here from the multiple and interconnectedargumentative lens of formal-informal dichotomy by labour productivity differential,market size constraint, labour market flexibility, capital inflows, political constraint,corporate industrialization and welfare economic implications. In the process, the limitationsof the classic developmental ideas of Kuznets, Lewis and Schumpeter are critiqued.Thereafter, an alternative policy framework is proposed to achieve economic developmentfocused on employment, equity and environmental uplift. The paper shows how the massiveunemployment problem can be managed in India’s democratic set up by departing from conventionalwisdom about industrialization. JEL Classification: D6; D62; D72; E6; E12; E24; E26; H41; J08; J21; J64; J83; N5; O1;O2; O11; O14; O17.

Keywords: Formal and informal sectors; labour productivity; market size; jobless growth; labour market flexibility; capital flows; corporate industrialization; welfare economics; alternative policy (search for similar items in EconPapers)
Date: 2024
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