The Biden Administration's Emphasis on Industrial Policy and the Reindustrialization of the US
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India's economic growth cannot be built on Western models, particularly in the agriculture sector. Outdated models dominate policymaking, and it is crucial to question assumptions. The Lewis Model, which suggests moving people out of agriculture into manufacturing and services, is criticized for its lack of relevance in the era of automation and AI. The article presents different structural paths for farmers, such as the Lewis Path, Lewis Trap, Farmer Developing Path, and Farmer Excluding Path, and highlights how India has been on negative structural paths since 1993. The challenges in the manufacturing and service sectors in absorbing agricultural labor are also examined. The article calls for a shift in public policy to focus on retaining agricultural labor, making small farms more produ...
#newstr #India #Agriculture #Manufacturing #Germany #Philippines #IndustrialPolicy #GreenIndustrialPolicies #Reindustrialization #UsEconomy #Investment