The wrong priority for India
A fixation on inequality is sheer folly for an economy in which the problem is poverty, a matter of absolute deprivation
As has been widely reported, including in this newspaper, economist Thomas Piketty was recently touring India. In a series of public engagements, he exhorted the Indian government to raise its tax-to-GDP (gross domestic product) ratio, to spend the extra money on public health and education, and thereby to reduce wealth and income inequality. As most readers will be aware, Piketty sees himself as something of a crusader on a quest to slay the dragon of inequality; he appears to believe that one of the caves in which this dragon may be lurking is in India.
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