Economic History and Current India free essay sample

There have been recent studies of the entire history of the economy of india where it is possible to ananlyse where india stood its place in past and where it is currently held. Paul Birog made a thorough analysis of Asian countries GDP economic development of 1750-1918 where surprisingly the findings in 1700AD drawn economic statistics of world . China had 32. 8% GDP where as as india had 25% . UK at that time had 1. 8% GDP along with 1% GDP in USA. By the time of 1900 there was a total reversal of paradigm shift where US and UK had GDP growth of 41% whereas China and India suffered 1. 7% GDP overall. The western research shows that india was a economic giant . London economist Angus Madisson in 1990, one of the greatest british economist of all time was appointed by the OECD nations to verify Paul Birogs research along with different levels of assistances from different countries. Eventually in 2010 he published a 2000 year economy of India where it showed from 1AD India topped thed world with 34% GDP. Still in 1000AD it had 28% GDP. In the years 1500 and 1600 china overtakes india. Again in 1700 india overtakes china and finally the entire crash of the Indian economy began later in 1750’s where the british colonial overlords landed in the country and started looting the country and exploiting its resources. The OECD website refers in the â€Å"world economic history and millennium perspective† lists out all these information which have been quoted before. It is one of the most trusted and relied upon website to refer to the statistics of the world economies. Although the word society is absent completely in western society where Margaret Thatcher said in 1971, that there is nothing called as society. And today all the western accepts today is the alternate version of so called civil society. Now civil society is totally different from the traditional society where it can be suggested that it is a form of ‘anti society’. Civil society which is the current western trend is based on social contractual theory, which all the institution are based including out democratic government where each citizen is recognized as co-citizen in country rather than mutual brotherhood based society. For eg. In USA, in Philedelphia, a Son can file a case against his own father for divorce of relationship and can achieve his claim since there is no cultural society, it is a civil society where 2 people are viewed as co-citizens rather with any blood and brotherly relationship. The complete western understanding, their institutions, sociology, individualism, constitutional theory of west does not recognize normal basic human relationship. But whereas our Indian society has always been working entirely on human relations since the ages of time where india showed a huge economic superpower with traditional society. Today since Indian government which is puppying around the western ideology fail to realize that they are taking the economy of the nation into a huge catastrophy. In 1993, when Manmohan Singh was the finance minister invited jagadish bhagavati a neo economist from USA, who formed the entire Duncan WTO treaty for the situation crisis in india with its economic situation. He suggested that the problem with Indian people is that they are saving more than need which comes around 23%GDP,out of which 19 % GDP were only saved by Indians. His advise included to bring down the savings of the people by different means of taxations and other techniques to 9-10%. Out of which this 9 -10% should only be focused on food, shelter like basic needs and increase productions by employing more people and made a whole theory model on that. His theory on Indian situation stated that unless you destroy the family saving of the Indian people and bring it down to half of it, there was no chance of development. He also made a research on the Indian families that Indian woman played a vital role in taking hold of the savings of her family expenditures. So his ideas proposed to change the mentality of the reserved family woman to consumer based woman where she can be advertised to spend more of our money and change the family structure symmetrically in Indian society. In western society there is no propensity to save money assets, thus as a result many families are destroyed. Today 51% Americans are single parent family, out of which 41% children are born to unwed mothers, 20% born for school going children. 51% of the American people are dependent on government support on life insurance, health support etc. where as Indian people have always been dependent on society. Moreover the western economy is build on contractual interest based constitutional society which has led to time bomb ticking economy is USA and other European countries. Today the present scenario has changed the entire habitual thinking process of the people in India. They have a huge affiliated love towards the western society and its features less realizing the suicidal catastrophic and destructive features of its empire. The govt. in India always claim to be globalizing with the world but in reality, india is Americanizing by focusing only on American economic model. There are other traditional society based economies like Japan and germany wherr they instead of manipulating the crowd, they motivate their savings in their family and encourage only the financial institutions to put up money in trades of stock market. There is a huge commonality between the german or Japanese structure of economic history of rich cultural based society which our country could have adopted for the people but current democractic model is partially by the people but it has terribly failed to be for the people by inviting the civil society in our country. Indian economies,constitutions, institutions,sociology, philosophy, education etc all are based on the government economic blueprint of those same people who looted the country, colonized it and then destroyed the Indian GDP. CONCLUSION There are fraternity based economic models in this world with which we share commonality and our ideas should be to have a wider understanding of the world with whom we relate culturally and socially and only then our economic model can be aligned to them to achieve prosperity and serenity in our country.