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Fantastic interview, especially the moral and ethical aspects of economics raised by Prof Banerjee, debunking the myths that millions of Indians harbour these days. Reducing everything to the market – from wellbeing of humans to the sustainability of environment and ecology – is already producing catastrophic social, ecological, economic, cultural and political consequences around every country. Controlling the labour market, as Prof Banerjee offered examples of in countries such as Sweden, Germany and Denmark, is absolutely critical. But we are more American than the Americans! Welfare though is the last thing in the minds of Indian upper-middle class and middle classes, especially, that of the bottom 50% of the population who do not matter.
