Eminent development economist and academic Jayati Ghosh said the neo-liberal economic policies in the country have, despite impressive growth rate figures, failed to deliver on promises such as creation of jobs, economic diversification and improvement of efficiency and productivity.
For all the middle class narrative of ‘technological dark ages’ due to state involvement, neo-liberalism does not mean the state is withdrawing, but only that it is no more concerned about people’s rights, Prof. Ghosh asserted at a seminar titled ‘The Impact of last 25 years on our material lives, minds and moral universe’, held by the Hyderabad Collective here on Sunday. More than six per cent growth rate for 25 years has not generated any formal employment, and the promise of economic diversification has fallen flat with share of primary sector in employment still at 60 per cent. Prof. Ghosh called the brief spell of economic prosperity a few years ago a debt-driven boom, accelerated by access to cheap resources in a ‘Faustian bargain’ between the state and the large capital. The whole neo-liberal strategy has run its course and only popular movements can shift it, Prof. Ghosh said. Recent Magsaysay award winner and national convenor of the ‘Safai Karmachari Andolan’, Bezawada Wilson expressed fury at the death of four persons in a manhole in the city on Saturday. No scientist has developed any solution for cleaning of sewage lines, which is fallout of ‘untouchability’, he said. Despite legislation against manual scavenging, not even one case has been filed so far under the Act. He called the contract employment, government’s ploy against Dalits.
Taking a bird’s eye view of a whole gamut of issues from economic liberalisation, journalist P. Sainath said something had gone seriously wrong with our moral universe and all natural resources were becoming economic resources.
Art and Culture expert Sadanand Menon and principal advisor to Commissioners of Supreme Court Biraj Patnaik too spoke at the seminar.
