Rob Johnson introduces John Maynard Keynes:
Advice to young economists:
Check out the Institute for New Economic Thinking (INET) for more interesting stuff.
Saturday, April 17, 2010
The Indian economy has been growing at a rate of more than 7 percent, on average since 2000, but it has not fully translated into the lives of poor people. Poverty and inequality levels are still high.
Poverty in rural areas fell from 37.3 percent in 1993-94 to 27.1 percent in 1999-2000, while in urban areas it fell from 32.4 to 23.6 percent, according to official estimates.
The HDI value was 0.427 in 1980, 0.556 in 2000, 0.604 in 2006 and 0.612 in 2007.
Percentage of population below different poverty lines:
- $1.25 a day: 41.6%
- $2 a day: 75.6%
- National poverty line: 28.6%; (National poverty line: rural is Rs 356.30 and urban is Rs 538.60, according to the National Planning Commission)
Share of income or expenditure of:
- Poorest 10 percent: 3.6%
- Richest 10 percent: 31.1%
- Richest 10 percent to poorest 10 percent: 8.6%
- Gini index: 36.8 (0 is absolute equality and 100 is absolute inequality)
Source: HDRs and Kakwani 2004 One Pager #2