Author is a professor of Economics at the London School of Economics.
To get the engine of the economy revving, an expansionary fiscal policy that harnesses the energy of the informal sector to boost aggregate demand is the order of the day.
Providing basic income guarantee to all citizens makes a lot of sense intuitively. But the implementation cost in any country, including India, would be prohibitive.
The value of Angus Deaton’s work lies in honing the techniques that go behind the construction of data series used for policy analysis.
Challenge is to come up with a method of determining compensation that makes farmers beneficiaries, not victims or obstructionists.