Inequality did not increase during the early stages of economic development in Japan and the East Asian Tigers. But in India and China it did. Why is that? Vamsi Vakulabharanam PhD '04 (economics), an Institute for New Economic Thinking (INET) grantee, suggests that the explanation lies not with the particularities of the countries themselves, but rather with the shift in the "regime of global capitalism" around 1980. Testing whether a global regime shift drives inequality dynamics in national development -- this is new economic thinking.
For his distinguished work exploring issues related to poverty in India, China, Japan and a few other Asian countries, Dr. Vamsi Vakulabharanam, associate professor of economics at the University of Hyderabad and a grantee of the Institute for New Economic Thinking, has won the prestigious 2013 Amartya Sen Award from the Indian Council for Social Sciences Research (ICSSR).