Summary:
With the fascinating title “Delving into the Paradoxical Ambivalence between Economics and Anthropology: An Anthropological Perspective,” Professor P. Venkata Rao gave an insightful lecture at AIF as a part of its monthly Distinguished Guest Lecture Series. Launched during the event, the foundation’s quarterly multilingual digital magazine, Childhood Matters Vol. 5 – Issue No. 2 – April-June 2025, was also released.
Covering its history and main issues, the lecture provided a thorough and subtle survey of economic anthropology. Professor Rao highlighted the continuing fight between economics and anthropology as well as the methodological distinctions between quantitative and qualitative approaches. He said, “Grounded anthropology in local realities and cultural logics clarifies economic life,” capturing the core of the anthropological perspective. By examining non-market societies and their economies, including customs such as bride price, dowry, and potlatch, the presentation challenged the universality of economic logic. He also talked about the legacy of colonialism in affecting indigenous economies, emphasizing the failure of applying current economic theories to culturally entrenched habits. Rao talked about conventional Indian institutions like the Jajmani system and its divisive character in the Indian setting, whether it is fair or exploitative. He quoted Scarlett Epstein as asserting that these systems endure even amid paucity. The presentation also addressed the impacts of caste, family, and religion on Indian economic systems, stressing especially how urbanisation and economic development have led to the breakdown of joint families.
Professor Rao underlined how important it is to broaden the reach of economic anthropology beyond academia to encompass policymaking and development planning. Anthropologists must find methods to effectively communicate their results in order to influence actual events, whereas economists have the advantage of precision in implementation. He also mentioned the problems in development programs and relocation projects. Aside from this, Professor Rao related stories from tribal civilizations and stated that “development frequently causes disarray and family fragmentation,” therefore urged a harmony between preserving cultural legacy and meeting current needs. Furthermore raised was the political and economic conflict of material taxes. Despite campaign promises to the contrary, Professor Rao underlined the political opposition to reduced alcohol and tobacco consumption since the state depended on related tax revenue and the matter of how urbanization influences households and farming. On someone bringing up agriculture in Punjab and alerted to an approaching food crisis as real estate was expanding fast. Reacting, Professor Rao stressed how important anthropologists were in fighting economic dominance by employing social platforms and the media in development debates.
The session was attended by approx. 150 students, scholars, professors, scientists, bureaucrats, etc. from all over India, including institutions like Pondicherry University, Indira Gandhi National Tribal University, University of Lucknow, Utkal University, BHU, University Of Hyderabad, Sardar Patel University, IIT Madras, Delhi University, JNU, AnSI, IGRMS, Ministry of Home Affairs etc. via Zoom Meeting and YouTube Live. The lecture was concluded with a healthy and insightful Q&A session from the audience and it confirmed the need of applying anthropological knowledge to solve modern economic and social issues and hence to more effectively close disciplinary gaps.
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