1. Jagdish Bhagwati flays Amartya Sen over PM Narendra Modi’s demonetisation again, calls him fool

Jagdish Bhagwati flays Amartya Sen over PM Narendra Modi’s demonetisation again, calls him fool

Acclaimed economist Jagdish M Bhagwati has once again lashed out at Nobel laureate Amartya Sen over the latter's stand on Prime Minister Narendra Modi's demonetisation drive.

By: | New Delhi | Updated: October 11, 2017 11:32 AM
Jagdish Bhagwati, amarty sen, pm narenra modi, pm modi, demonetisation, economy, indian economy, Acclaimed economist Jagdish M Bhagwati has once again lashed out at Nobel laureate Amartya Sen over the latter’s stand on Prime Minister Narendra Modi’s demonetisation drive.

Acclaimed economist Jagdish M Bhagwati has once again lashed out at Nobel laureate Amartya Sen over the latter’s stand on Prime Minister Narendra Modi’s demonetisation drive. Sen had reportedly questioned whether note ban move was democratic or not, according to FirstPost report. In a hard-hitting attack Bhagwati termed Sen as fool and asserted that the move was a democratic one. Bhagwati also claimed Sen rushed in and expressed his opinion without taking public view, the report says.

This, not the first time that Bhagwati had trained his guns at Sen. Earlier, in March, Bhagwati had said demonetisation will promote growth while Sen and other experts who denounced it stand “humiliated and exposed”. He said, “On the effects of demonetisation on growth, I should say that I was the one economist who had argued (with my co-authors), from first principles, that demonetisation would increase, not diminish, growth,” according to PTI report.

Bhagwati said that the Prime Minister’s success in Uttar Pradesh has, therefore, meant that Amartya Sen and his friends who argued that demonetisation would hurt growth, have been humiliated and exposed as much as the Congress,” Bhagwati was quoted as saying PTI.

The aftermath of demonetisation, Sen asserted that demonetisation was a ‘despotic act’. In reply, Bhagwati said, “Not knowing finance, he (Amartya Sen) made the mistake of taking a strange position that the demonetisation action was ‘despotic’”.

Bhagwati is a professor of Economics, Law, and International Relations at the Columbia University.

  1. Suresh Deman
    Oct 12, 2017 at 7:57 pm
    Bhagwati no Saint as he claimed in a CNN interview by Christian Amanpour that he had read in textbooks when he was a student that farmers committed suicide so it is not an uncommon practice. The author challenged him but had received no response read story: s: papers.ssrn /sol3/papers.cfm?abstract_id 1811844 As to his attack on Prof AK Sen the elusive manner of speech speaks volumes about his shallow scholarship and professional jealousy as Sen got the Nobel he was not even nominated. Although I have my own differences with Prof SEN he got it right on demonetisation which has hard hit the informal sector whose impact is yet to be incorporated in the GDP which may shatter the dream of 'Make in India' with GDP growth tending to Zero . Further, despite IMF certification which relies on the Govt data, low consumer demand due to joblessness, low demand for credit low investment combined with low capacity utilisation prospects of recovery negligible.
    Reply
    1. P
      PSai
      Oct 12, 2017 at 9:48 am
      Sir. I had a respect for you earlier. You are too quick to attack in personal front than explaining anything in technical terms. Since, March -2017 all i see from you is personal attack no theoretical or mathematical Explanation at all. Don't fool the people.they understand the economics better than you i believe.. The official Rate of Growth and other parameters now confirms that. Please use with counter mathematical logic to prove yourself before commenting any Noble Laureate. Nobel committee is not biased. Your point is really defames our India.
      Reply
      1. J
        John
        Oct 12, 2017 at 7:06 am
        Bhakh Bhagwati, kindly don't certify the demonitisation move as successful one with UP victory. Jhumla PM wooed illiterate voters to win. It's startling to know you don't speak Economics, but speak bhakth logic. Kindly note you cannot get along with your lies for too long.
        Reply
        1. A
          ANDY
          Oct 12, 2017 at 8:02 am
          And you congress sycophant, bootlicker and a slave, what qualifications do you have to refute Prof. Bhagwati. Prominent businessmen including Bill Gates have endorsed the demonetization and the CONGRESS SLAVE Amartya Sen inspite of being well educated spoke like a MORON, without facts. There are going to be some short term slowdowns but overall it helped digitize the payments system in India. You have been living and breathing lies for the last 70 years and can't take a shred of truth.
          Reply
          1. P
            PSai
            Oct 12, 2017 at 10:18 am
            No Wonder.Just the continuation.Data says all.
        2. V
          vadivelu
          Oct 11, 2017 at 8:55 pm
          Neverthless, Bhagwati is a professor of Economics, Law, and International Relations at the Columbia University, his lashed out against Mr.S en shows his level education
          Reply
          1. B
            Biswa
            Oct 11, 2017 at 12:09 pm
            1. The fact that Mr Bhagwati was the one "economist" to argue for DeMo speaks volumes about his "knowledge" 2. DeMo did not promote growth, rather it slowed down the economy. Leave aside finance, Mr Bhagwati seems to lack a basic knowledge of maths 3. Mr Bhagwati seems to have no idea about how elections work in India. Elections are not one issue affairs and a election win does not mean DeMo succeeded No wonder Mr Bhagwati never won the Nobel
            Reply
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