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LATEST NEWS UPDATES | Data in the post truth era -Prabhat Patnaik

Data in the post truth era -Prabhat Patnaik

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published Published on Jun 22, 2017   modified Modified on Jun 22, 2017
-The Telegraph

The Narendra Modi government's record in tacitly supporting the actions of a bunch of vigilante thugs who have been terrorizing the country, especially the Muslims and the Dalits, in the guise of gau rakshaks, or opponents of love jihad, or 'nationalists', has been so outrageous that it has grabbed all the critical attention. In the process, the government's abysmal failures in other spheres have gone virtually unnoticed. One such sphere is the economy, the dismal state of which is sought to be camouflaged by hyped-up figures of growth of the gross domestic product.

In fact, GDP figures these days engage one like an Edmund Crispin detective novel: in Crispin's novels one is forever occupied trying to identify the murderer from the clues the author gives; likewise with GDP data these days one gets primarily occupied trying to discover how truth has been done away with by the estimates. It is their 'post-truth' character rather than the data themselves which absorbs one.

But even official data cannot hide certain things about the Modi years, and in what follows I rely exclusively on official data. The gross domestic product at factor cost originating in agriculture is the source of the incomes of all those engaged in this sector: agricultural labourers; peasants of different categories; capitalist farmers; and landlords, both feudal and capitalist. True, some of them, notably the landlords and capitalist farmers, may have incomes from other, non-agricultural sources, such as trade, cinema halls, or the transport business, but their numbers being relatively small, as long as their share in the GDP originating in agriculture does not fall, we can safely infer that an observed fall in per capita GDP originating in agriculture implies a fall in the per capita income of the agriculture-dependent population.

Income of course should mean net income, that is, gross income minus a deduction for the depreciation of fixed capital, but the ratio between gross and net incomes does not change much over short periods; so, taking per capita GDP at factor cost for examining trends in per capita income of the agriculture-dependent population seems legitimate.

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The Telegraph, 21 June, 2017, https://www.telegraphindia.com/1170621/jsp/opinion/story_157843.jsp


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