Beginnings of change in the world economy: the next transformation?
Professor Deepak Nayyar, Jawaharlal Nehru University, New Delhi, Visiting Professor, Indo-French programme (Fondation Maison des Sciences de l’Homme).
This seminar will focus on the latest book of Professor Nayyar, Catch up: Developing Countries in the World Economy, which will be published this month by Oxford University Press, Oxford. The book poses, and endeavours to answer, some unexplored questions. Does the distinction between rich and poor countries go back a long time? If not, when did the countries and continents, now described as the developing world, end their long period of domination to begin their decline and fall? To what extent does the rapid economic growth in developing countries since 1950, which gathered further momentum in 1980, represent a catch up in terms of industrialization and development? How is it distributed across countries and among people? The catch up is concentrated in a few countries. Growth has often not been transformed into meaningful development that improves the wellbeing of people. Yet, the beginnings of a shift in the balance of power in the world economy are discernible. But developing countries can sustain this rise only if they can transform themselves into inclusive societies where economic growth, human development and social progress move in tandem. Their past could then be a pointer to their future.
This lecture is organised in partnership with the team “Etudes Comparatives du Development” at EHESS and the research group on BRICS at FMSH. Jean-Luc Racine will chair the session.
One of the most noted Indian economists, Deepak Nayyar is Emeritus Professor at Jawaharlal Nehru University, New Delhi and former Distinguished University Professor at the New School for Social Research, New York. He is an Honorary Fellow of Balliol College, Oxford. He has been Chief Economic Adviser of the Government of India and Vice-Chancellor of the University of Delhi.