Wednesday 11th September 2019, 6pm to 7:30pm, Mumbai University Convocation Hall
This is the 7th lecture in honour of Dr Indraprastha Gordhanbhai (IG) Patel who was the ninth director of LSE from 1984 to 1990.
The question of how to create a fair society based on a well understood social contract that defines the rights and obligations of citizenship has been at the centre of many of the collaborations between India and LSE in recent decades. What should a citizen expect and what do we owe each other as citizens? What is the role of the state relative to families, communities and the private sector? How has this social contract changed over time and what should happen in future? Many of the tensions in today’s world – in particular the rise of divisive politics and populism – are blamed on globalisation and nationalism. I would argue they are rooted in the failure of our social contracts to adapt to new economic and social realities. In advanced economies, the tensions in the social contract are caused by technology and the changing role of women. These forces are changing the nature of work, the way families care for the young and the old, and the risks that individuals must manage over the course of their lives. As a result of these massive changes, we see anxiety about the future and increasingly polarized politics. In India, the social contract is undergoing rapid change as incomes rise, urbanisation occurs and the state is increasingly called upon to deliver on citizens’ demands for jobs, housing, education and healthcare. In all countries, a new social contract better attuned to new realities is an essential part of rebuilding social cohesion. The solutions will require some radical thinking about what we owe each other as a society.
This event is free but registration through Eventbrite is required to attend.
(Deputy Prime Minister and Coordinating Minister for Economic and Social Policies in Singapore)
This is the 6th lecture in honour of Dr Indraprastha Gordhanbhai (IG) Patel who was the ninth director of LSE from 1984 to 1990.
Inclusive growth has to be at the centre of our agenda, if we are to avoid the continued unravelling of the social compacts that have underpinned an era of open economies. It will require new strategies, redefining the role of government and reinvigorating the politics of the centre. There is also something to be learnt from international experience.
India - Macroeconomic Challenges, Some Reserve Bank Perspectives
(22nd Governor of Reserve Bank of India 2008 - 2013)
This is the 5th lecture in honour of Dr Indraprastha Gordhanbhai (IG) Patel who was the ninth director of LSE from 1984 to 1990.
Over the five years through 2003-08 leading up to the global financial crisis, India clocked an average annual growth of 8.7 per cent on the back of wide ranging structural and policy reforms and growing integration with the global economy. By the year 2008, India was the fourth largest economy in the world in purchasing power parity terms. For a nation that once believed that the ‘Hindu rate of growth’ was its destiny, this remarkable growth performance became a trigger for setting off aspirations for double-digit growth.
Those aspirations have moderated significantly with growth moderating below trend in the post-crisis period owing to the impact of the global downturn as also a host of domestic policy and operational bottlenecks. The post-crisis period has also been characterised by a large fiscal deficit, historically high current account deficit and inflation persisting above the comfort level. Macroeconomic management during this period has had to contend with balancing between stimulating growth and reining in inflation, dealing with the short-term pressures in external sector without compromising long-term sustainability and returning to a path of fiscal responsibility.
Dr Subbarao, Governor of the Reserve Bank of India, will reflect on these challenges from the Reserve Bank perspective and illustrate the dilemmas encountered in making policy choices.
Towards a New International Financial Architecture
Dr YV Reddy
(former Governor of the Reserve Bank of India)
This is the 4th lecture in honour of Dr Indraprastha Gordhanbhai (I.G) Patel who was the ninth director of the London School of Economics from 1984 to 1990.
Hosted by the London School of Economics India Observatory in association with the Administrative Staff College of India. Welcome from Dr SK Rao, Director General, ASCI. Introductory remarks by Sri M Narasimham, Chairman, Court of Governors, ASCI. Lecture by Dr Reddy. Concluding remarks by Professor Lord Stern.
Growth and Equity in a Globalising World: Can India meet the challenge?
Montek Singh Ahluwalia
This is the inaugural lecture in honour of Dr Indraprasad Gordhanbhai (I.G) Patel who was the ninth director of the London School of Economics, serving as director from 1984 to 1990.
As the world's largest democracy, India faces the challenges of globalisation in a unique way. It has adopted a strategy of inclusion in its politics and of liberalisation in its economic policy. Yet this combination poses its own problems.
The London School of Economics and Political Science is a School of the University of London. It is a charity and is incorporated in England as a company limited by guarantee under the Companies Acts (Reg no. 70527).The registered office address of the School is: The London School of Economics and Political Science, Houghton Street, London WC2A 2AE, UK; Tel: +44 (0)20 7405 7686