BOOK: Vijay Joshi, India’s Long Road to Prosperity
Vijay Joshi, Emeritus Professor of Economics at the University of Oxford, has recently published a new book, India’s Long Road: The Search for Prosperity, in which he argues in favor of a basic income for all citizens of India.
From the product description at Amazon.com:
Vijay Joshi argues that the foundations of rapid, durable and inclusive economic growth in India are distinctly shaky. He lays out a penetrating analysis of the country’s recent faltering performance, set against the backdrop of its political economy and charts the course it should follow to achieve widely shared prosperity.
Joshi argues that for India to realize its huge potential, the relation among the state, the market and the private sector must be comprehensively realigned. Deeper liberalization is very necessary but far from sufficient. The state needs to perform much more effectively many core tasks that belong squarely in its domain. His radical reform model includes a fiscally affordable scheme to provide a regular ‘basic income’ for all citizens that would speedily abolish extreme poverty.
Joshi’s research interests are in macroeconomics, international economics, and development economics. Outside of his appointment at Oxford, he has held various positions in government and business offices; for example, he has served as the Officer on Special Duty in India’s Ministry of Finance, the Director of J. P. Morgan’s Indian Investment Trust, an adviser to the Governor of the Reserve Bank of India, and a consultant to international organizations including the World Bank and the OECD.
Vijay Joshi, India’s Long Road: The Search for Prosperity, Oxford University Press, 2016.
Reviews focusing on Joshi’s support of basic income:
Ishan Bakshi, “Oxford’s Joshi proposes basic income for all,” Business Standard, July 19, 2016.
Jaimini Bhagwati, “Scrutinising India’s Economic Past Can Guide Us to a Brighter Future,” The Wire, July 20, 2016.
“Govt should wind up subsidies and provide basic income to everyone: Joshi,” WebIndia 123, July 15, 2016.
Photo credit: Chatham House (December 2012)
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