Economic Theory
Academic article
Joan Robinson and the Economic Growth Experiences of India and China
Joan Robinson’s writings are valuable for understanding the problems of underdevelopment in overpopulated countries. She had developed deep ties with China and India since the early 1950s – during the very years in which these countries, then newly independent, launched state-led economic development strategies. China’s emergence as a major economic power today has been on a path that Robinson had favoured – by achieving high rates of capital accumulation, a decline in population growth, and with measures to keep inequality under check. At the same time, India’s less than spectacular record in development may be largely on account of its long-term failures with respect to redistribution, especially of assets including land. Given its current employment crisis, the Indian economy is possibly going through the ‘leaden age’ phase, as per the framework Robinson had developed. Robinson’s ideas on aggregate demand and technical progress are useful for charting the future economic growth paths for China and India.
This article is under review in the Cambridge Journal of Economics.
Labour Economy Development 