Economists need to see the poor as people, says Meghnad Desai

“Our tradition in economics has been to reduce poverty to some number or the minimum amount which a poor person needs for eating food. Or simply, what is the minimum we can get away with by paying the poor, as all they have to do is eat and there is no other function for which money needs to be paid to the poor,” Desai said.

“Can we think of the poor as people? What is required for adequate living beyond eating, and what is adequate living? Life is far more than eating. How can more people be made more prosperous?” he asked.

The veteran economist further noted how at the start of the ongoing Covid-19 pandemic, something was wrong with world economics.

Dr Rajiv Kumar, chancellor of the institute, urged the passing out students to be the thought leaders of tomorrow and steer India ahead.