Join us in the upcoming Stone Center Inequality Lecture Series at the Graduate Center.
This session consists on a seminar and discussion with Rishabh Kumar on Thursday, November 3 at 3:30PM-5:00PM. The seminar will be held at the CUNY Graduate Center, Room 9204. The event will consist of a 30-minute seminar followed by 30-45 minutes for Q&A.
Rishabh Kumar is a PhD candidate in economics at the New School for Social Research. His research focuses on wealth, capital theory, and taxation from historical and international perspectives. His working paper, “Capital and the Hindu rate of growth: Top Indian wealth holders 1961-1986”, explores the evolution of wealth held by the wealthiest Indian households. The paper examines the share of national wealth held by the top 0.1% and 0.01%, as well as the composition of wealth.
The abstract of the paper:
Did India’s stagnant growth performance until the 1980s increase or decrease the wealth of the elite? Using estate tax data I compute a series which highlights the relative importance of top wealth holders in India between 1961-1986. I find that a combination of policies and shocks were able to significantly depress the personal wealth of the Top 0.1% over this period. A portfolio decomposition by asset categories for the rich reveals that there was a U shaped trend in the average value of movable assets while wealth invested in land significantly declined. Disparity within top wealth groups also follows a shrinking and swelling, consistent with the intervention of the state in private capital. These results have implications for the equalizing forces inherent in tax policy vis-a-vis the rich and the role of the state in regulating capital in poor nations.
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This event is part of the Stone Center Inequality Lecture Series.
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