Plotting the contours for India’s economic development: Why this could be a role model for other developing nations as well

Book excerpt: In a paper published by us a couple of years ago on Anthropological Economics, (the year 2020 to be precise) we had mooted the idea of trickle up economics as contrasted with the rather more popular and mundane trickle down economics. We had argued that the latter would be somewhat dubious, iffy, inconsistent and non-replicable in a wide variety of situations, particularly in the case of developing nations. We had argued that trickle up economics would actually boost wide-ranging economic growth, and add to the Gross domestic product in a big way. While we never were, and still are not big fans of socialism, we have always argued, and will continue to argue for balanced, diversified and equitable economic development models. There is a world of difference between the two. We had also argued that the economic models pursued by advanced industrial nations will not by and large, work in developing nations. Thus, American style economic conservatism is meaningless in Indian political and economic contexts. There are fundamental differences in ground realities between these two different sets of nations. It would make eminent sense for the readers of this book to read the aforesaid paper as well, as we will not be able to reproduce the contents in this paper in its entirely here; many of the proposals advocated and espoused in this paper can also be implemented by developing economies, though rather much more slowly. We focus only on the meat here............