Who described Indian Capitalism as “Dharmshala Capitalism”?
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HAS GS Previous Year Prelims Paper (2018)
K.R.V. Rao
Incorrect AnswerJagdish Bhagwati
Incorrect AnswerAmartya Sen
Incorrect AnswerRaj Krishna
Correct AnswerExplanation:
- Option 1: K.R.V. Rao
K.R.V. Rao is known for his contributions to various economic theories but is not linked to the term "Dharmshala Capitalism."
- Option 2: Jagdish Bhagwati
Jagdish Bhagwati is an economist known for his work on international trade and globalization, but not specifically for "Dharmshala Capitalism."
- Option 3: Amartya Sen
Amartya Sen is a Nobel laureate economist recognized for his work on welfare economics and development economics but not for "Dharmshala Capitalism."
- Option 4: Raj Krishna
Raj Krishna, an Indian economist, is the one who coined the term "Dharmshala Capitalism." He is also known for popularizing the term "Hindu rate of growth" to describe India's low economic growth rate during a certain period.
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