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Perspectives From a Vantage Point

Opinion

An Economist I Had Never Heard of

Having spent all my childhood and education upto my undergrad in India, I have personally seen the tragedy of the mixed economy experiment in that country. In those days, it was taken as a given that the only way for India to progress was for it to take the diktat from an “elite” group of planners who “knew” what was better for every one else. It is always refreshing to know that there were dissenters who decried the social injustice and economic misery wreaked on the nation by the “do gooders”.

link here:

Many prominent representatives of that orthodoxy regularly visited India in the 1950s and 60s. The visitors included Gunnar Myrdal, Joan Robinson, Nicholas Kaldor, Thomas Balogh, Ian Little, Oscar Lange, Paul Streeten, and others. Most of these representatives of the prevailing orthodoxy endorsed the Second Five Year Plan in public pronouncements in India and in prestigious and influential publications in the West, such as the Economic Journal or the Review of the British National Institute for Economic Research

I had read elsewhere that daddy Galbraith was advising the Indian planners while they wreaked havoc on the populace, but this list above  reads like a who’s who of Keynesian economics.