[CSH Seminar] The sky and the stratosphere: concentrated wealth in India during the lost decade (R. KUMAR)


Event Details


The Centre de Sciences Humaines (CSH) is delighted to invite you to a seminar with:

Rishabh KUMAR

(Assistant Professor of Economics, University of Massachusetts Boston)

The sky and the stratosphere: concentrated wealth in India during the lost decade

Monday, 11 July 2022 at 5 p.m.

At Centre de Sciences Humaines (CSH), IFI-CSH Conference Room (ground floor)

2, Dr. APJ Abdul Kalam Road, New Delhi, 110011

Abstract:

Recently released official survey data show a decline in wealth inequality (measured by the Gini) and wealth concentration (shares of the top fractiles) over 2012-2018. We investigate a puzzling detail — the rich hold equities, whose prices increased over 2012-2018, while the middle class holds precious metals, whose prices declined over the same period. The survey predicts the richest Indian to be worth Rs 244 million in 2018; according to luxury magazines, the richest Indian has, in fact, a net worth of Rs 2,560 billion. We correct this series using data from named rich lists and find that the decline in wealth inequality is more modest. More strikingly, we find a sharp increase in wealth concentration, with the share of the Top 0.001 percent doubling in size — as of 2018, the wealth of the richest 7000 (approx.) Indians exceed the wealth of the poorest 50 percent.

Speaker:

Rishabh Kumar is an Assistant Professor of Economics at the University of Massachusetts Boston. Previously,  he taught at California State University, San Bernardino, and worked in government for New York City’s Department of Finance. He received his Ph.D. in Economics from The New School for Social Research in May 2017.

 

CSH Seminars are in hybrid mode. If you are interested in attending online, please follow this link: https://us06web.zoom.us

RSVP mentioning your full name to be sent to: neeru {dot} gohar {at} csh-delhi {dot} com

(!) Due to covid security protocols, we request you to pre-register over email and kindly carry an ID proof to be granted access to the venue. Please note that the room capacity is limited. Seats will be reserved on a first come first basis.

For more info:

tista[dot]kundu[at]csh-delhi[dot]com

odile[dot]henry[at]univ-paris8[dot]fr

ssjodhka[at]yahoo[dot]com

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