There is a common consensus within economics and the social sciences alike that markets do not float freely. Market dynamics crucially depend on the institutional infrastructure in which they operate. Institutional research has also already highlighted that the nature of these institutions is shaped in complex social and political processes. Taking this insight as a vantage point, this module analyses market limitations in a comparative fashion. What gets organised how through markets -and what are the social and political consequences? This raises in particular three set of questions that this module seeks to answer:
- The evolution of Indian economic institutions: This module examines the history and development of Indian economic institutions and how they were created in a context of social compromises quite distinct from European contexts, as mirrored in notions of public and private.
- The social consequences of market processes: This module puts focus on urbanisation processes over the last decades. In this process, markets are often used to legitimate interactions where land is exchanged for money. In particular, investors buy land cheaply and thereby undermine the livelihoods of rural families. While this process is distinct from ‚land grabbing‘ that is observed in other context due to undefined property rights, it does raise essential questions of sustainability, (gender) inequality, and responsibility.
- Digital Infrastructures: This module examines the employment of digital technologies in the area of Artifical Intelligence, Blockchain and Internet of Things which transform the mode of financial inclusion. Accordingly, Big Data applications operating on smart phones replace the inclusion through bank accounts and ATMs. This module intends to observe and analyse the transformation comparatively in the Indian and the European Context.
- Prof. Oliver Kessler (University of Erfurt)
- Prof. Sebastian Vollmer (CeMIS, Göttingen)
- Prof. Malavika Subramanyam (Indian Institute of Technology Gandhinagar)
Module Committee Members (in alphabetical order)