Peruvian economist Hernando de Soto turned classical capitalism on its head with his trickle-up theory: that if you create wealth at the bottom of the pyramid, it will find its way up. de Soto, president of the Institute for Liberty and Democracy, speaks to The Indian Express Editor-in-Chief Shekhar Gupta on NDTV’s Walk the Talk on the need for the poor to be able to participate in the global economy...

India is incredible (after shining), with the fastest growth rate, an emerging demographic dividend and innovative brains for the globe. But the vast majority in rural India — employed in agriculture, small-scale and tiny industries, self-employed, and with no assets — does not find it so. This government, claiming inclusive growth for the grossly deprived and poor, has not taken actions to bring down prices of essential food items, unprecedented...

“When I told a government official that Pesa allows us to determine our policy on liquor trade in the village, he shot back, ‘Are you trying to teach me the law? If you are so knowledgeable about the law, why are you living here in your village in the forest? Why don’t you go and speak in the Orissa assembly?’” Fulsingh Naik, resident of Mandibisi (Rayagada, West Orissa), December 2009, recounting...

A RESEARCHER WORKING on the State of Panchayats Report (SOPR) 2008-09 met Mahangu Madiya in Chhattisgarh’s Bastar district, a dangerous place for gathering data. Madiya’s story was startling. In January, he was given Rs 55 lakh compensation for his land, but the amount is sitting in his bank account. He does not even own a mobile phone. “I am concerned with farming. My land is important to me. What will I...

The recent spike in world food prices has further widened the gap between the developed and the developing economies. While, over 70 per cent of the world's population resides in poor countries, it has access to less than 40 per cent of the world's resources such as water, irrigated land, power, etc. This is a result of inconsistent economic progress (post-colonialisation birth pangs), rampant population growth and distractions such as...