Arguments, using theory and historical examples to show that Government policies, and not neo-liberalism, is the reason why some economies are failing, while others have not

2.  Industrial Revolution ushered in the
interconnected man
 UN’s MDG remain as the roadmap for
development
 How to achieve these have been the
primary question of development

3.  Mercantilism, monopolies, protectionism
erroneously linked with neoliberalism
 India’s Hindu rate of growth; uneven
accumulation of wealth
 Only free trade will help in reducing
poverty

4.  New innovations shall always create
employment insecurity
 Countries that move faster to newer
technologies, offset this
 India’s agricultural policies increasing
unemployment; needs to move quickly
to technological sectors

5.  Shift of poverty from Asia to Africa;
growth of South-East Asia, also India
 Bangladesh – jute exports, aid causing
drought in Ethiopia, and Africa in general
as examples
 East African Common Market, India’s
micro-credit initiative as counter-
examples

6.  Growth figures increased (to 6%),
poverty fell by half to 21% during 1990-
2010
 Global inequality has fallen, developing
weaker economies
 Current inequality within countries, due
to policies of poor governance

7.  Measure of inequality; between 0.25 to
0.35, ideal for Industrial societies
 Return of capital r : growth of wages g
has remained steady in 2010 compared
to 1870
 These two indices refute Piketty’s
argument that inequality is increasing

9.  Low industrialization, business
environment, trade barriers
 Enabling Trade Index score low, which
had won the EU the Nobel Peace Prize
 India’s Look East Policy now Acting in the
right direction

10.  All countries with high HDI, have
increased their GDP between 1970 to
2000
 Free market economic growth remains
the only way possible for development
 Poor governance, protectionism, bias for
agriculture main bottlenecks in
development