Two sad things have happened to Indian economics in the past 20 years. It’s hard to say where the fault lies.
One is that far too many economists seem to have lost interest in economic history altogether. And even within the confines of their obsession with data, they have become victims of bond market myopia. The other is that while those born after 1980 have remained largely apolitical, many of those born earlier have turned most unbecomingly partisan. A subset of them comprises those who have held high policy positions. Their views are therefore taken seriously.
Modern economics, however, is
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