Episode 223: The Economics and Politics of Vaccines

The second wave in India could have been avoided. We should not have been suffering like this. Vaccines were the answer. Ajay Shah joins Amit Varma in episode 223 of The Seen and the Unseen to discuss how our thinking about vaccines was fundamentally flawed — and what we should do now. Also discussed: why Indian healthcare is in such a mess.
Joint production with IVM Podcasts

Episode 3: GST

There are two kinds of diversity in India, one good, and one not so good. Our greatest strength is our diversity of people and cultures and languages. But one of our great weaknesses is our diversity of taxes, across states and regions. We have so many different kinds of taxes that the cost of compliance is the most daunting cost for many businesses, and corruption is out of control. Also, taxes create friction in trade, and the costs are borne by consumers and businesses alike. It’s a negative-sum game.

The Goods and Services Tax (GST) was supposed to be the panacea that would get us out of this mess. While India has been one country since 1947, it hasn’t been one market, and the GST was expected to get us to that promised land. It has been many years in the making, though, and has become more and more convoluted in the process of political and bureaucratic negotiation. Thus, while the Seen Effects of a perfect GST would normally be excellent, the potential Unseen Effects of the GST in its evolving form could be quite messy.

In Episode 3 of The Seen and the Unseen, Devangshu Datta takes Amit Varma through the nuances of the GST and their possible implications.

Episode 2: Demonetisation

On November 8, 2016, India’s prime minister Narendra Modi announced that 500- and 1000-rupee notes would cease to be legal tender from midnight that day. This removed 86% of the cash from circulation, an unprecedented event in human history. Demonetisation, as it was then called, or DeMon or Notebandi as it is also known, had humanitarian and economic effects that might take years to play out. In episode 2 of The Seen and the Unseen, Amit Varma is joined by Suyash Rai, an economic analyst from Delhi, as they examine whether demonetisation achieved any of its intended effects, and try to come to terms with some of its unintended (but foreseeable) consequences.

Read show notesEpisode 2: Demonetisation

Episode 1: Entry and Exit in Agriculture

India has a panoply of laws that prevent corporations from getting into farming, and which prevent farmers from escaping agriculture, by virtue of not being able to sell their farm land for non-agricultural purposes. The Seen Effect of this is that they are protected from exploitation by rapacious capitalists. But are the Unseen Effects worse?

Amit Varma is joined by guests Pavan Srinath and Karthik Shashidhar, who explain that a key reason why Indian agriculture is in such a dreadful state today is the bad laws governing it set by different governments.

Episode 0: Preview

    
All public policies — indeed, all actions by humans — have two kinds of effects: those that are intended, and visible; and unintended consequences, which are invisible. The Seen and the Unseen is a podcast that aims to examine both the seen and the unseen effects of our actions