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Journal of the History of Economic Thought Preprints – A Win-Win Model of Development: How Indian Economics Redefined Universal Development from and at the Margins

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  • Bach, Maria

Abstract

In this article, I argue that looking at lesser known intellectuals can help history of economics uncover news ways of seeing the world. My focus is the beginnings of “Indian Economics” and its conceptualization of development. The Indian economists, despite their elite status in India, were from an imperial context where they were never considered economists. Studies throughout the 20th century continued to treat them only as nationalists, rarely as contributors to economic knowledge. My research gives agency to these economists. I show how the position of Indian Economics from the margins of discursive space offered a unique perspective that enabled it to discursively innovate at the margins of development discourse. Indian Economics redefined the concept of universality in the existing 19th century idea of development by rejecting the widely accepted comparative advantage model and assertion that progress originated in Europe. Moreover, the economists pushed for universal industrialization, even for imperial territories, arguing that universal progress was beneficial to all.

Suggested Citation

  • Bach, Maria, 2020. "Journal of the History of Economic Thought Preprints – A Win-Win Model of Development: How Indian Economics Redefined Universal Development from and at the Margins," OSF Preprints gk8pw, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:gk8pw
    DOI: 10.31219/osf.io/gk8pw
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    References listed on IDEAS

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    1. Erik S. Reinert & Jayati Ghosh & Rainer Kattel (ed.), 2016. "Handbook of Alternative Theories of Economic Development," Books, Edward Elgar Publishing, number 15311.
    2. H. W. Singer, 1975. "The Distribution of Gains between Investing and Borrowing Countries," Palgrave Macmillan Books, in: The Strategy of International Development, chapter 3, pages 43-57, Palgrave Macmillan.
    3. repec:bla:scandj:v:96:y:1994:i:1:p:83-93 is not listed on IDEAS
    4. Matthew Watson, 2012. "Friedrich List's Adam Smith Historiography and the Contested Origins of Development Theory," Third World Quarterly, Taylor & Francis Journals, vol. 33(3), pages 459-474.
    5. Mauro Boianovsky, 2013. "Friedrich List and the Economic Fate of Tropical Countries," History of Political Economy, Duke University Press, vol. 45(4), pages 647-691, Winter.
    6. Maria Bach, 2018. "What laws determine progress? An Indian contribution to the idea of progress based on Mahadev Govind Ranade's works, 1870–1901," The European Journal of the History of Economic Thought, Taylor & Francis Journals, vol. 25(2), pages 327-356, March.
    7. Prebisch, Raúl, 1950. "The economic development of Latin America and its principal problems," Sede de la CEPAL en Santiago (Estudios e Investigaciones) 29973, Naciones Unidas Comisión Económica para América Latina y el Caribe (CEPAL).
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