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This is the only work to provide an overview of the Indian economy as it has evolved over this century. It includes consistent and comparable annual estimates of national income.
This book examines how India was placed and placed itself in the world during the first half of the 20th century in a period of global turmoil and set against the subcontinental contest for independence. In situating India in the world, it looks not just at current foreign policy studies, but also at geopolitics, World War experiences, theoretical and strategic approaches, early foreign policy institutional transitions and the role of Indian civil and foreign diplomatic services. The work explores history and theory with a focus on cosmopolitanism beyond nationalism. The use of extensive sources from archives in UK and Russia — especially in different languages, mainly German and Russian — lends this volume an edge over most other works. The book will be useful to professional academics, historians including military historians, security specialists, literary specialists, foreign policy experts, journalists and the general reader interested in international issues.
What are the grand dynamics that drive the accumulation and distribution of capital? Questions about the long-term evolution of inequality, the concentration of wealth, and the prospects for economic growth lie at the heart of political economy. But satisfactory answers have been hard to find for lack of adequate data and clear guiding theories. In this work the author analyzes a unique collection of data from twenty countries, ranging as far back as the eighteenth century, to uncover key economic and social patterns. His findings transform debate and set the agenda for the next generation of thought about wealth and inequality. He shows that modern economic growth and the diffusion of knowledge have allowed us to avoid inequalities on the apocalyptic scale predicted by Karl Marx. But we have not modified the deep structures of capital and inequality as much as we thought in the optimistic decades following World War II. The main driver of inequality--the tendency of returns on capital to exceed the rate of economic growth--today threatens to generate extreme inequalities that stir discontent and undermine democratic values if political action is not taken. But economic trends are not acts of God. Political action has curbed dangerous inequalities in the past, the author says, and may do so again. This original work reorients our understanding of economic history and confronts us with sobering lessons for today.
Volume 2 of The Cambridge Economic History of India covers the period 1757-1970, from the establishment of British rule to its termination, with epilogues on the post-Independence period.
Widely used since the mid-twentieth century, GDP (gross domestic product) has become the world's most powerful statistical indicator of national development and progress. Practically all governments adhere to the idea that GDP growth is a primary economic target, and while criticism of this measure has grown, neither its champions nor its detractors deny its central importance in our political culture. In The Power of a Single Number, Philipp Lepenies recounts the lively history of GDP's political acceptance—and eventual dominance. Locating the origins of GDP measurements in Renaissance England, Lepenies explores the social and political factors that originally hindered its use. It was not until the early 1900s that an ingenuous lone-wolf economist revived and honed GDP's statistical approach. These ideas were then extended by John Maynard Keynes, and a more focused study of national income was born. American economists furthered this work by emphasizing GDP's ties to social well-being, setting the stage for its ascent. GDP finally achieved its singular status during World War II, assuming the importance it retains today. Lepenies's absorbing account helps us understand the personalities and popular events that propelled GDP to supremacy and clarifies current debates over the wisdom of the number's rule.
"The ongoing COVID-19 pandemic marks the most significant, singular global disruption since World War II, with health, economic, political, and security implications that will ripple for years to come." -Global Trends 2040 (2021) Global Trends 2040-A More Contested World (2021), released by the US National Intelligence Council, is the latest report in its series of reports starting in 1997 about megatrends and the world's future. This report, strongly influenced by the COVID-19 pandemic, paints a bleak picture of the future and describes a contested, fragmented and turbulent world. It specifically discusses the four main trends that will shape tomorrow's world: - Demographics-by 2040, 1.4 billion people will be added mostly in Africa and South Asia. - Economics-increased government debt and concentrated economic power will escalate problems for the poor and middleclass. - Climate-a hotter world will increase water, food, and health insecurity. - Technology-the emergence of new technologies could both solve and cause problems for human life. Students of trends, policymakers, entrepreneurs, academics, journalists and anyone eager for a glimpse into the next decades, will find this report, with colored graphs, essential reading.
From the end of the eighteenth century, two distinct global processes began to transform livelihoods and living conditions in the South Asia region. These were the rise of British colonial rule and globalization, that is, the integration of the region in the emerging world markets for goods, capital, and labour services. Two hundred years later, India was the home to many of the world's poorest people as well as one of the fastest growing market economies in the world. Does a study of the past help to explain the paradox of growth amidst poverty? The Economic History of India: 1857–2010 claims that the roots of this paradox go back to India's colonial past, when internal factors like geography and external forces like globalization and imperial rule created prosperity in some areas and poverty in others. Looking at the recent scholarship in this area, this revised edition covers new subjects like environment and princely states. The author sets out the key questions that a study of long-run economic change in India should begin with and shows how historians have answered these questions and where the gaps remain.
Research on Singapore's economic history has been complicated by the absence of economic data on pre-independence Singapore. This book sheds light on two key aspects of Singapore's economic history, namely the relationship between economic instability and growth, as well as the government's fiscal policy towards economic growth.