The fact that an economy, even when it experiences a higher growth rate in the capitalist segment, is saddled with an increasing unemployment rate, goes against the grain of conventional growth theory as indeed of the basic presumption underlying policymaking. In India, for instance, faced with growing misery in the midst of accelerating growth, the standard response has been that such “exclusion” will disappear if the growth rate can be further accelerated.
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Links:
[1] http://admin.indiaenvironmentportal.org.in/feature-article/economic-growth-and-employment
[2] http://admin.indiaenvironmentportal.org.in/category/author/prabhat-patnaik
[3] http://admin.indiaenvironmentportal.org.in/category/journal/economic-and-political-weekly
[4] http://admin.indiaenvironmentportal.org.in/category/thesaurus/economic-development
[5] http://admin.indiaenvironmentportal.org.in/category/thesaurus/unemployment
[6] http://admin.indiaenvironmentportal.org.in/category/thesaurus/india
[7] http://admin.indiaenvironmentportal.org.in/category/thesaurus/industrial-workers
[8] http://admin.indiaenvironmentportal.org.in/category/thesaurus/industry
[9] http://admin.indiaenvironmentportal.org.in/category/thesaurus/farmers
[10] http://admin.indiaenvironmentportal.org.in/category/thesaurus/agriculture
[11] http://admin.indiaenvironmentportal.org.in/category/thesaurus/land-ownership
[12] http://admin.indiaenvironmentportal.org.in/category/thesaurus/global
