Modern Capitalism and the Future of Indian Informal Economy

Friday, June 24, 2016: 4:15 PM-5:45 PM
254 Dwinelle (Dwinelle Hall)
Sunita Kumari, Tata Institute of Social Sciences, Mumbai, India
Abhishek Thakur, University of Delhi, Delhi, India
The contemporary literature have been deliberating about the dependence of the informal economies on the modern capitalism . In the countries like India the situation has become more vulnerable where majority of the population is in the unorganized sector . Within the time , the formal systems have become more informalized in the day to day life where more contract based labour markets have cropped up in the recent years leaving no room for the people to get the decent wage and income based on their work. The current paper tries to understand the four major assumptions as highlighted by Martha Chen's on the informal economy.
The current study examines the four assumptions given by Martha and tries to correlate the same with the current situation of Indian Informal economy . Importantly those assumptions are as follows :
a) fragmentation of the informal economy
b) implication and intransience of the informal economy
c) The Legal recognition of the characteristics of informal economy
d) gamut of economic relations in the domain of informal economy
The above mentioned assumptions forms foundation of the current paper . Moreover these assumptions also opens the scope to see and understand the growing terrain of the Indian Informal Economy at the Malthusian rate.