Tag: money

WPTPN: The Anti-Corruption Racket: How Demonetization Cements Modi’s Mantle

 

This World Politics in a Time of Populist Nationalism (WPTPN) guest post is written by Nikhil Kalyanpur, a PhD student in Government at Georgetown University. He researches business-government relations and the relationship between security and finance.

While Donald Trump has naturally dominated headlines across the world this past month, his chauvinistic brother-in-arms Narenda Modi has been just as active. The boss from Gujarat is taking a page from today’s global autocratic elite – exploiting international liberal norms to further illiberal ends. The BJP’s dramatic demonetization initiative leaves nearly 87% percent of Indian currency (the 500 and 1000 rupee notes) void, in a country where virtually the same percentage of the economy operates informally. The move is meant to curb the endemic corruption eating the Indian bureaucracy, and crack down on tax evasion and apparent (“Pakistani”) currency counterfeiting. The country is not quite following Modi’s modernization script. The country is stumbling toward recession while the burden is disproportionately placed on the poor, and, in particular, rural women for whom cash is the only way to escape abusive relationships. While the economy grinds to a halt, the legislature has been thrown into gridlock, US Congress-style, as the filibuster is now all the rage.

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Shouldn’t we call it the “having-a-husband” penalty?

As Jennifer Grose at Slate reported this morning, a paper by Wendy Stock and John Siegfried at the most recent AEA meetings, had some very disturbing – but not surprising – findings in regarding women academics and marriage.  The Slate article calls it the “wife penalty.”  I’d prefer it to be called the “having-a-husband penalty.”  In no uncertain terms, having a husband costs:

“For males, getting married within the first five years after graduation was associated with a 25 percent salary growth premium relative to other males. For females,however, getting married was associated with a 23 percent salary growth penalty relative to other females, perhaps reflecting compromises incurred in a two-career job search”  (Stock and Siegfried 2014, 14-15).

The paper is available for download at the AEA site.

One interesting thing I noted:  it also appears that marriage at time of degree could be a short-term boost:

“we found that marriage was significantly associated with salary growth, with those who were married at the time they earned their degree experiencing roughly 15 percent higher salary growth over the first five years of their careers”  (Stock and Siegfried 2014, 14).

I wonder if this is due to issues of age or self-selection, something previously discussed at the Duck

*Thanks to Justin Esarey for bringing this article to my attention.

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