Capitalism has guided the world economy to unprecedented prosperity. However, it often encourages short-sightedness and contributes to wide disparities between the rich and the poor. In this light, would it be correct to believe and adopt capitalism for bringing inclusive growth in India? Discuss.
A cross-paper core theme: why human development lags growth, HDI vs IHDI, social sector spending, inclusive growth's features, capitalism and inequality, equity across generations, environment vs needs of the poor, and CSR.
What to cover
Inclusive growth: meaning and indicators
HDI vs IHDI
Public spending on health and education
Intra- and inter-generational equity
Market economy vs inclusion
CSR under Companies Act 2013
Writing the answer
Use data and connect GS1 development debates with GS3 economics
These notes are for the whole theme, built from all 10 of its PYQs. UPSC does not publish model answers.