B.R. Shenoy: stature and impact

Bauer, Peter Bauer had written this great work and published by Cato Institute Journal in 1998

B.R. Shenoy: stature and impact

Article Abstract:

Indian economist B.R. Shenoy gained his greatest distinction from his paper 'Note of Dissent' and the book 'Problems of Indian Economic Development. The former was attached to Second Five Year Economic Plan submitted to Prime Minister Jawaharlal Nehru in 1956. It demonstrated the extent of his moral courage in that he dared to declare a dissenting view on the traditional Western economic perceptions and beliefs held by Nehru at the height of the latter's powers. He pointed out the weakness of an economic forecast that bases its growth on the productivity of people living on subsistence levels.