Reflections on some developments in Higher Education in India

Reflections on some developments in Higher Education in India by  Kaushik Basu

 

Abstract:
A structure of social norms, the right kinds of laws, and the right kinds of governance structures are more crucial in economic development of a country than getting economic policies right. Cultural norms are not hard-wired, as many would like to believe. They change, along with changing incentives and changing atmospheres. Contrary to the understanding that persuasion of self-interest in best for the society and economy, trust plays a key role in societal development. Societies which can trust one another can cut many more deals, transactions, businesses because you can rely on the other side, and those societies begin to flourish. At the same time good laws play key role in fostering economic development. The relationship between abolition of child labour and increasing adult wages illustrates the point. (Read Full Paper)