The term "Bullock Cart Economy" or more commonly "Bullock-Cart Capitalism" was used by political scientists Lloyd I. Rudolph and Susanne Hoeber Rudolph in their work, particularly in the book "In Pursuit of Lakshmi: The Political Economy of the Indian State" (1987). They used this concept to illustrate the blend of traditional and modern sectors and practices within the Indian economy.
Who described the Indian economy as “Bullock Cart Economy” ?
Asked in HPPSC HPAS Prelims 2024 · Topic: Nature of Indian Economy (Mixed Economy Framework)
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