- This event has passed.
Closed Loop, Open Borders: Wealth and Inequality in India
- Anthony P. D’Costa (Eminent Scholar in Global Studies and Professor of Economics College of Business, The University of Alabama in Huntsville)
One of the contemporary paradoxes of economic growth and development has been pervasive and worsening inequality. The purpose of this talk is to provide an alternative understanding of why inequality has been getting worse in India.
Professor D’Costa focuses on India because of its late entry to the development process and therefore its particular economic structures and institutional systems. He disaggregates two processes: of wealth creation (closed loop) and wealth flight (open borders) and argue that these two processes comprise the contextual dynamics of worsening inequality. Closed loop refers to an evolving state-business institutional partnership that drives the exclusionary economic development process in a number of ways, while open borders refer to the global capitalist economic order that offers business and commercial opportunities such as new markets, technologies, and resources. Together, these two interlocking processes provide an alternative explanation for worsening inequality in India.
He has written on the political economy of steel, auto, and IT industries covering themes of global capitalism, economic development, innovations, inequality, and international mobility of talent.
Anthony P. D’Costa
Eminent Scholar in Global Studies and Professor of Economics College of Business, The University of Alabama in Huntsville
Anthony P. D’Costa is Eminent Scholar in Global Studies and Professor of Economics at the University of Alabama in Huntsville. Previously, he was the Chair and Professor of Contemporary Indian Studies and Director of Development Studies Program at the University of Melbourne and Research Director and A.P. Moller-Maersk Professor of Indian Studies at the Copenhagen Business School. He was a Professor of Comparative International Development at the University of Washington for eighteen years. His most recent books are: Changing Contexts and Shifting Roles of the Indian State: New Perspectives on Development Dynamics (Springer, 2019) and The Land Question in India: State, Dispossession, and Capitalist Transition (Oxford, 2017), both coedited with Achin Chakraborty. Based on his Abe Fellowship he also wrote International Mobility, Global Capitalism, and Changing Structures of Accumulation: Transforming the Japan-India IT Relationship (Routledge, 2016).