Full Employment and Development: The Case of Indian Economy
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Abstract
The purpose of this study is to establish the feasibility and desirability of full employment and price stability in India via an Employer of Last resort program. After providing a brief historical background of the precolonial and colonial economy, the development of the Indian political economy since independence is analyzed in order to identify the country’s institutional characteristics and macroeconomic stability. It is shown how the traditional Indian social organization based on the self-sufficient village community system has been dismantled and all forms of social provisioning have undergone destruction in the last few decades by neoliberal policies. The current public employment program with its rights based approach can be instrumental in fostering change with social justice. The empirical content of the thesis is based on the primary field work done in one of the states in the country. Many emerging institutions are working to strengthen this program. A broader view of the public is necessary to envision ‘social security’ as an objective pursued through public action rather than a narrowly defined set of strategies relying exclusively either on market forces, or on some paternalistic initiative of the state.
Table of Contents
Introduction -- ELR theory and job guarantee policy experiments -- Precolonial and colonial Indian economy -- Post colonial Indian economy -- Institutional mechanism of government finance in India -- National Rural Employment Guarantee Program - a field report -- Gender aspects of National Rural Employment Guarantee Program -- Public Employment Program and social justice -- Conclusion
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Ph.D.