TECH TALK: As India Develops: A Tutorial on Development

The India of today is still largely agriculture-driven, in that a majority of its people are dependent on agriculture. How can India develop? We need to understand the process of development, and in the case of India, also rural India and poverty. These are complex topics the stuff that economists thrive on. But an understanding … Continue reading TECH TALK: As India Develops: A Tutorial on Development

TECH TALK: As India Develops: A Tutorial on Development (Part 2)

Atanu writes that credit constraint is the most important constraint that keeps an economy from developing: Economics concerns itself with one fundamental problem, that of allocating scarce resources efficiently and optimally. The most succinct definition of the economic problem is therefore a constrained maximization problem. Constraints are all over the place. Physical resources are limited. … Continue reading TECH TALK: As India Develops: A Tutorial on Development (Part 2)

TECH TALK: As India Develops: A Tutorial on Development (Part 3)

How does one increase incomes of 700 million rural people in India? Writes Atanu: Yes, India has huge natural resources. Unfortunately, India has huge population as well. So with 2.4 percent of the world’s land area and 17 percent of the world’s population, the natural resource base does not seem all that rosy. Couple that … Continue reading TECH TALK: As India Develops: A Tutorial on Development (Part 3)

TECH TALK: As India Develops: A Tutorial on Development (Part 4)

Atanu on Poverty and making India a Stuff Superpower: Poverty is lack of income. What is income? Income is that share of stuff produced that you get to take home for yourself. Let’s not confuse money with income. Income is often denominated in monetary units but in real terms, income is what you get to … Continue reading TECH TALK: As India Develops: A Tutorial on Development (Part 4)