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| JU hosts 22nd annual conference of Indian Political Economy Association | | |  Early Times Report
JAMMU, Dec 14: The 22nd annual conference of the Indian Political Economy Association hosted by the Department of Economics, University of Jammu (JU) as part of the University's Golden Jubilee Celebrations commenced today with the inaugural ceremony being held in the Brigadier Rajinder Singh Auditorium. Speaking on the occasion, the keynote speaker, Professor Utsa Patnaik Professor Emerita in the Centre for Economic Studies and Planning, Jawaharlal Nehru University drew parallels between what happened to India under Colonial Rule and under the current policies of globalization and liberalization.
Prof Patnaik drew the attention of the audience to the manner in which India was drained of her wealth by Britain, her colonial rulers, by way of taxes which then were used to pay for Britain's imports from India.
These imports in turn were largely exported to the rest of the world enriching Britain.
However, Economic History textbooks written with a colonialist's worldview was careful not to highlight this plunder and as a result, the extent of colonial plunder remains unknown to most Indians. Prof Patnaik claimed that the same is being replicated by the richer countries this time through a set of policies that India has adopted after 1991 i.e. liberalization and globalization. The lowering of state investment have led to low demand and low domestic incomes while liberalization and globalization has made the farmers vulnerable to global instability.
This was accentuated by the gradual phase out of government procurement. The resulting farmers' distress has led to the rise in farmers' movements as well as Dalit movements which are now being supported by the middle class. This according to Prof Patnaik is a new and welcome development. Prof Patnaik called for a rollback of the policies that have come into place after 1991 and called for greater state intervention in the economy.
Prior to this Prof VB Upadhyay of IIT Delhi and a functionary of the Indian Political Economy Association explained to the audience about the aims, goals and orientation of the Association. |
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