00:00    |    
Initial credits
00:06    |    
Comments on Murray Rothbard
00:54    |    
Origins as an economist
Center for Civil Society, India, 1997 
02:43    |    
History of economic reforms in India, 1991
Difference in economic wealth is related to difference in economic freedom
04:40    |    
Details of economic reform after crisis 
07:01    |    
Positive changes and industrial improvement 
Benefits in the social sector
08:46    |    
Economic disparity
09:27    |    
Paradox for unliberalized groups
Urban informal sector: Cycle rickshaws
Agriculture sector: Essential commodities 
Forrest dependent communities: Forest act
19:22    |    
The challenge of inclusive growth
19:48    |    
Final credits




The Widening Gap between Rich and the Poor

23 de enero de 2013   | Vistas: 1 |  

Parth Shah speaks on the solving the growing disparity between the rich and the poor that is a problem in so many countries today. According to Shah, the difference in economic wealth is related to the difference in economic freedom of individuals.

To illustrate this principle, he retells the story of reform that originated from economic crisis in India in 1991. During this reform period licensing requirements were reduced, economy was opened to international trade, tariffs became lower, and it became easier for foreigners and locals to open businesses. This lead to quality of life improvement for Indians in sectors that experienced liberalization. A paradox persisted with three groups of the population: the urban informal sector of street entrepreneurs, the agriculture sector, and the tribal and forest-dependent communities remained poor. The common denominator in these areas, was that economic restrictions and regulations remained.

For Shah, this real life example proves that the best way to meet the challenge of inclusive growth in any economy is to liberalize the sectors that have not been liberalized. Disparity of income is linked to disparity in economic freedom.


Nuestra misión es la enseñanza y difusión de los principios éticos, jurídicos y económicos de una sociedad de personas libres y responsables.

Universidad Francisco Marroquín