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Maria Bach, "Relocating Development Economics: The First Generation of Modern Indian Economists" (Cambridge UP, 2024)

Dec 3, 2025
Maria Bach, a historian of economics, explores how Indian economists from the late 19th century challenged Western development ideas. She highlights Mahadev Ranade's significant contributions and the underappreciated Indian economic thought that offers fresh perspectives on progress and regression. Bach discusses the impact of famines and deindustrialization on Indian economists' concerns and argues that Indian ideas significantly shaped later development theories. The conversation dives into the engagement between Indian and Western economic thought and its influence on post-colonial economics.
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ADVICE

Integrate Indian Economists Into Curricula

  • Teach Indian economic thinkers as part of mainstream history of economics to broaden frameworks.
  • Include regional archives and non-British sources to capture alternative development models.
INSIGHT

Rediscovering Marginalized Indian Economic Thought

  • Maria Bach discovered Indian economists were marginalized in histories of economics despite rich local debates.
  • She argues recovering their work reveals alternative development frameworks predating mid-20th-century labels.
ANECDOTE

Ranade Sparked The Research Path

  • Maria Bach recounts finding Mahadev Ranade's essays and wondering why she had never learned them as economics texts.
  • That discovery convinced her to focus on an Indian tradition rather than only European accounts.
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