Dr.Ambedkar- A Greatest Economist – It may surprise many to know that Dr Bhim Rao Ambedkar, celebrated as the “Father of Indian Constitution,” found economics closest to his heart and got his doctorate for a thesis on “The Problem of the Rupee”. He was a Professor of Economics in Mumbai’s Sydenham College in the early 1930s. Ambedkar strongly believed that the fundamental cause of India’s backward economy was the delay in changing the land system. The remedy was democratic collectivism that entailed economic efficiency, productivity and overhauling the village economy, he wrote. This, he said, would wipe out elements of economic exploitation and social injustice. He did not want landlords, tenants, or landless labour. His idea of economic realism sought both freedom and welfare. The essential feature of his approach to economic problems was the condemnation of such extreme views as laissez-faire and scientific socialism. Mixed economy was the cornerstone of his economic ideas. He advocated an end to the glaring social and economic inequalities produced by the capitalist system. Ambedkar was a keen student of economics. He got his MA for his thesis on ‘Ancient Indian Commerce’ and MSc (London) for his thesis on ‘The Evolution of Provincial Finance in British India’ and DSc for his thesis on ‘The Problem of the Rupee’. His evidence before the Hilton-Young Commission was an important contribution to the discussion of currency problems in India. He gave expression to his thoughts on such issues as small-holdings, collective farming, land revenue and abolition of landlordism. It covered nearly four important decades — 1917 to 1956, and touched on all major political and economic events.
Posted on: Sat, 30 Aug 2014 05:15:18 +0000
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