The Centre de Sciences Humaines is pleased to invite you to the CSH Seminar (Hybrid)
by
Rishabh KUMAR
(Assistant Professor of Economics, University of Massachusetts Boston)
on
The sky and the stratosphere: concentrated wealth in India during the lost decade
on
Monday, 11 July 2022, from 5:00 pm to 6:30 pm IST
At
Centre de Sciences Humaines
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 exceeds the wealth of the poorest 50 percent.
Speaker:
Rishabh Kumar is an Assistant Professor of Economics at 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 PhD in Economics from The New School for Social Research in May 2017.
For more info:
jt[dot]martelli[at]csh-delhi[dot]com
laurence[dot]gautier[at]csh-delhi[dot]com
(!) Due to the security protocol to access at CSH Conference room, we request you to please pre-register over email to Neeru Gohar and kindly carry an ID proof.
Send an e-mail to attend event (in person or online session) mentioning your full name (before Monday, 11 July 2022, 2:00 p.m.) to:
neeru.gohar@csh-delhi.com
