Decoding fundamentals of Indian Economy: Gandhian Perspective - Professor Arun Kumar

Arun Kumar is a Retired Professor of Economics at the Jawaharlal Nehru University. He is the author of 'Demonetization and Black Economy' (2018, Penguin Random House) and 'Indian Economy’s Greatest Crisis: Impact of Coronavirus and the Road Ahead' (2020).

In this discussion, Arun Kumar reflects on his transition from studying physics at Princeton to a career in economics, drawing parallels between the evolution of theories in both fields. He delves into various economic paradigms, comparing Smithian, Marxian, and Keynesian frameworks, and discusses the relationship between paradigms and academic research. The conversation covers the impacts of capitalism, socialism, and alternative economic models on national policies, emphasizing the principles over frameworks in economic thought. Kumar also explores Gandhian economics, the challenges of urbanization versus rural development, and the current economic issues facing India, including unemployment, the black economy, and the effects of demonetization. He addresses identity-based inequality and the effectiveness of reservations, offering insights into potential solutions grounded in Gandhian philosophy.