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A wave of estimates regarding Indian inequalities has recently sparked public interest. Whether we believe the wealth inequality figures presented by Credit Suisse or the income distribution accounts of Lucas Chancel and Thomas Piketty, the evidence suggests that India has sharp economic disparities. But inequalities are to be expected in a developing economy with a …

One of the strongest justifications for the economic liberalization that began in the 1980s is that it not only raised growth rates, but that growth spilled over to the poorest. Granted, liberalization has increased inequalities, but this is rationalized as the price to pay for higher growth. After all, it was not just us loyal …