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Politics & economics: A strange role reversal

Politics had assumed growth to be the autonomous variable which happened on its own but distribution to be in need of state intervention

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T C A Srinivasa-Raghavan
It’s not very clear why it has happened but, in an increasingly noticeable way, economics and politics have exchanged roles. Thus, there was a time when post-1945 economics concerned itself with economic growth and politics with the distribution of the fruits of that growth.

But now it’s the other way round. Economists are talking more and more about distribution and politicians are talking about growth. The consequences are as counterproductive and confusing as when bowlers bat and batsmen bowl. Or as Eli Heckscher and Bertil Ohlin might have asked, whither comparative advantage?

When I mentioned this to my friend Brijeshwar Singh —
Disclaimer: These are personal views of the writer. They do not necessarily reflect the opinion of www.business-standard.com or the Business Standard newspaper

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First Published: Jun 17 2022 | 11:16 PM IST

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