‘The Poverty of Economic Thinking’ launched in New Zealand

Book examines how rich and poor nations differ in their approach

Venkat Raman

A book that challenges political and economic leaders and planners to rethink their approach to social and economic progress was launched in Auckland on Monday, October 8, 2018.

‘The Poverty of Economic Thinking’ was released by its author and former UNIDO Advisor Dr Jebamalai Vinanchiarachi at the Fifth Annual Indian Newslink Sports & Community Awards Ceremony held at Alexandra Park in Greenlane.

Speech & Presentation

Speaking on the occasion with his characteristic humour, Dr Jebamalai outlined the main features of his book and how his prediction of India’s impressive growth under the Prime Ministership of Narendra Modi is coming true.

He presented the first copy of the Book to former Ethnic Communities and Revenue Minister and Member of Parliament Judith Collins and later copies to Black Caps Opening Batsman Jeet Raval, New Zealand Indian Central Association President Bhikhu Bhana and Telangana Association of New Zealand President Kalyan Rao Kasuganti and Rainbow Corner Group of Companies Directors Rrahul Dosshi and Bhavini Doshii.

Copies were also presented to Members of Parliament Kanwaljit Singh Bakshi, Dr Parmjeet Parmar (National) and Priyanca Radhakrishnan (Labour) and to a few others.

An Award to Dr Jebamalai

Earlier, Dr Jebamalai received the Indian Newslink Special Wenceslaus Anthony Commemoration Award for his outstanding services to international communities and the Indian Diaspora worldwide. The Award was presented on behalf of Indian Newslink by Sneha Anthony, daughter of the late Mr Anthony.

‘The Poverty of Thinking’ has been sponsored by Indian Newslink and dedicated to the memory of Wenceslaus Anthony, who was the Chairman of the Indian Newslink Community Fund. It was first launched at the Xavier Institute of Business and Entrepreneurship, Bengaluru on March 5, 2018.

Why Poverty of Economic Thinking?

As Dr Jebamalai said that the Book was the result of his reflections on development issues and options while on flights across the Continents on official trips.

“My reflections on poverty alleviation gave me compelling reasons to believe that it is not an act of charity, but an act of social justice, not necessarily underpinned by economic reasoning. The idea to write this book stemmed from my mind during a six-hour Emirates fight from Dubai to Vienna in 2015. I am happy that the book titled “’The Poverty of Economic Thinking sees the light of publication in 2018,” he said.

Reviewing the Book, this Reporter said that he had come cross an analysis on the same subject by Greg Wright, Assistant Professor of Economics at the University of California.

He said, “Income and wealth inequality are currently at levels last seen during the Gilded Age– when the top 10% of Americans owned nearly three-fourths of overall wealth, and the bottom 40% had virtually no wealth – and 2018 will see things get a whole lot worse.Now, the richest 1% of Americans own 40% of US wealth, more than the bottom 90% of Americans combined.”

Evolution of Thought

As such, in the First Chapter, the paragraph on ‘The Evolution of Economic Thoughts’ in Dr Jebamalai’s book is of much interest.

Photo :

  1. National MP Judith Collins receives the first copy of the Book from Dr Jebamalai
  2. Dr Jebamalai Vinanchiarachi speaking after the launch of his Book

(Pictures for Indian Newslink by Narendra Bedekar, Creative Fotographics)

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