Capitalisn't
Raghuram Rajan’s Vision Of An Indian Path To Development
Dec 8, 2023
Renowned Indian economist Raghuram Rajan discusses why India should focus on services-based development, dealing with economic inequality, engaging with Western business, and the critical role of democracy in India's economic success.
48:17
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Quick takeaways
- India should focus on a services-based development path instead of manufacturing, emphasizing its strengths in this sector.
- Investing in human capital through education is crucial for India's workforce improvement, job quality, and overall development.
Deep dives
Rethinking India's Development Path
The podcast episode discusses the need for India to reconsider its development path. It emphasizes the importance of differentiating from the current trajectory and explores the relationship between capitalism and democracy. The episode highlights the retreat of democracy globally and questions whether democracy hinders economic development, especially in comparison to China. The importance of democracy as a value in itself is reiterated, highlighting the need for democratic principles and transparency. It also examines India's economic growth, the challenges it faces, and the potential for India to focus on the service sector for future development.
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