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EPWat50:AchroniclerofIndia'sideasLivemint

EPWat50:AchroniclerofIndia'sideas
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TheEconomicandPoliticalWeeklycompleted50yearsofitspublicationon20August2016.Tobesure,the
originalprojectisinitsseventhdecade.TheEconomicWeeklystartedbySachinChaudhuri,whichlaterbecame
theEPW,startedpublicationinJanuary1949.
Today,EPWisestimatedtohaveareadershipofmorethan100,000,somethingunimaginableforanacademic
journal,especiallyoutsidetheWest.ItisonethingtosurviveasaMonthlyRevieworaNewYorkReviewof
Books,andanotherthingtogainprominenceandreverenceworldwideasanIndianjournal.
OnecanexpecttoseealotofpiecescelebratingtheEPWsphenomenaljourney.Thejournalitselfhasplanned
aseriesofarticlesbypeopleitcallsthe"EPWCommunity".Amongotherinitiativesplannedarebringingthree
volumes(1947196519661991and19922016)onIndiabyselectingfromitspages,andadocumentaryon
thejournalsstoryagainstthebackgroundofanevolvingIndia.(Thedocumentaryideaisprobablyinspired
byThe50YearArgument,directedbyMartinScorseseandDavidTedeschitocommemorate50yearsofThe
NewYorkReviewofBooks.)
Nostalgiaandlegacyaside,istheEPWrelevanteventoday?Ironicasitmaysound,usingthedemandsupply
framework(abasicconceptineconomics)toanalysethequestionwouldsuggestabigno.
KnowledgeseekingintheacademiahasseenarevolutionarychangeaftertheadventoftheInternet.Thelatest
findingsarejustaclickawaytoday.Gonearethedayswhenajournaldeliveredthroughpostwasthegateway
toacademicresearchanddebate.
Whiletechnologyhasequalizedaccess,theoldhierarchiesremain.Tobeconsideredbythehighpriestsof
economics,onemustpublishinaninternationaljournal.Onthesupplyside,thejournalsstillpricedextremely
lowincomparisontoothers.Thesalariespaidtoitsstaffarefarfromcompetitive,eventhoughtheyimproveda
greatdealunderthepreviouseditor,C.RammanoharReddy.
So,whathaskeptthetempogoing?Manythings.
TheEPWisnotjustaboutabenignexchangeofideas.ItheldalotofinfluenceinIndiaspolicymakingcircles
once.Overthepastfewmonths,Indiahasseenalotofdramaregardingtherelationshipbetweenthe
governmentandtheReserveBankofIndia(RBI).In1956,financeministerT.T.Krishnamacharinixedadecision
oftheRBIgovernorBenegalRamaRau.ThejournalcarriedanangryeditorialsuggestingthattheRBIgovernor
shouldresigntopreservehisselfrespect.RamaRauquitwithin24hoursofitspublication.
Thetimeshavechanged,forsure.ButtheEPWsimportanceintheeyesofIndiasintelligentsiaremainsintact.
HistorianRamachandraGuhacaptureditbestina2004piecewrittenafterthedeathofEPWeditorKrishnaRaj:
ThelittlemenwhonowruleIndiamaythinktheycanaffordtodisregardtheEconomicandPoliticalWeekly.For
therestofus,however,itremainsindispensableIhavemyselffoughtwiththeEPWtwice,onaccountofits
seemingbiastowardstheMarxists.Bothtimes,Isworenottowriteforthejournalagain.EachtimeitwasIwho
suedforpeace.TheEPWcouldcomfortablylivewithoutme.ButIcannotnowlivewithouttheEPW.
Guhaisnottheonlyonewhohasconfrontedthejournalsleftleaningeditorialline.Aheateddebatedensuedon
theissue,startingwithaletterbyCambridgehistorianDharmaKumartitledHegemonised,publishedinthe
journalitselfinthe1990s.Laterthatdecade,Rajhimselfshiftedhisideologicalposition.EPWdeputyeditor
BernardDMelloscommentaryinarecentissueacknowledgesthis.
Whilemanywouldstillchargetheeditorialsofbeingleftleaningachargewhichtheeditorswouldprobablynot
refutefewwoulddenythatthejournalhascarriedsomeofIndiasmostimportanteconomicdebates.Beitan
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10/23/2016

EPWat50:AchroniclerofIndia'sideasLivemint

intraleftdebateonthemodeofproductioninIndianagricultureofthe1970s,articlesontheindustrialstagnation
of1970s,whichappearedinthe1980s,oramorerecentdebateonpovertyestimationinthelastdecade,EPW
iswhereayoungstudentofeconomicswouldfindthemall.
Thetraditioncontinueseventoday.Totakeanexample,EPWpublishedArvindPanagariyascontroversialarticle
ongeneticsratherthanmalnutritionbeingresponsibleforIndiaschildrenbeingstuntedandunderweight.
ItalsocontinuestoreceivesupportandadmirationfromawidegalaxyofsocialscientistsinIndiaandabroad.
Therainbowcoalitionofacademicssignedalettercallinguponthejournalstrusteestoreconsidertheirdecision
ofexcludingRammanoharReddyfromthejournals50thyearcelebrationsisatestimonytotheEPWsrolein
nurturingandmaintainingavibrantacademicdebateinIndia.Thosefamiliarwiththewaysoftheacademic
worldwouldknowthatmostjournalsareembeddedinaparticularideologicalstandpoint.
ThereismoretotheEPWthanjustintense(andoftenesoteric)academicdebates.Thejournalhasalways
ensuredthatitspagesdonotbecomeapreserveofivorytowerintellectuals.Ithasalwaysbeenopento
activists,bureaucratsandevenpoliticalleaders.
DetailsofproblemswithIndiasnewGDPserieswouldbepresentedalongsideafactfindingreportfromaplace
whereexcesseshavebeencommittedwhileacquiringland.TodescribetheEPWasaTrojanhorsewhichhas
beenhelpingthevoicesofIndiastoilingmassessneakintosanitizedspacesofglobalacademiaand
policymakingwouldnotbeanexaggeration.
Lastbutnotleastistheplatformitprovidestoyoungresearchersinfindinganaudiencefortheirwork.An
anecdotewouldbeusefulhere.In1963a28yearoldeconomistteachinginBombayUniversityreviewedPiero
SraffasbookProductionofCommoditiesbyMeansofCommodities:PreludetoaCritiqueofEconomicTheoryin
thepagesoftheEconomicWeekly.
Sraffa,whowasoneofthebiggestnamesineconomicsthen,wassoimpressedwiththereviewthathegotthe
author,KrishnaBhardwaj,tocomeandjointheappliedeconomicsdepartmentinCambridge,whereshe
completedsomeofherseminalworksineconomics.
BhardwajcamebacktoIndiain1971toteachattheDelhiSchoolofEconomics.LatershejoinedJawaharlal
NehruUniversityandsetuptheeconomicdepartmentintheuniversityin1973.Thisauthorwenttostudy
economicsinthatcentremorethanfourdecadeslater.
Showcasingtodaysyoungtalent,whowouldgrowintoinstitutionbuildersoftomorrow,iswhatmakestheEPW
relevanttodayandachroniclerparexcellenceoftheideaofIndia.
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