The young Indian is recognised for cracking economic development and the East Asian Miracle, which has long remained a mystery to the economists until his work.
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FOR IMMEDIATE RELEASE
India, 20 October 2021 — Author Shivaji Lokam has won the Legacy of Peace Award presented by the Global Peace & Cultural Association for his work on economic development. Based in Chennai, India, the organization has presented the award to Lokam in recognition of outstanding commitment to humanitarian work and selfless efforts to empower society through noble deeds.
In the main hallways of global economic thinking, a black box was waiting to be cracked for decades. Economists have thrown every stone at it to open it but failed at each turn. As time elapsed and despite failing at every turn, most economists have come to a daydream-like understanding that they did open the box and uncovered the mystery.
The black-box is nothing but what the economists, led initially by those at the World Bank, often point to the label “East Asian Miracle”—a reference to the economic development and transformation achieved in a few East Asian nations during the 1970s and 1980s.
Lokam has cracked the black box with the new bold book “The General Theory of Rapid Economic Development.” Lokam is a young Indian entrepreneur who dreamt of seeing his nation India one day shine on the economic front. His book succeeds with originality and unmatched breadth and depth, offering real and practical solutions for developing nations and policymakers. The book is based on original research and is bound to shatter decades-old beliefs and concepts held dear by economists.
Growing in a low-income country like India, Lokam was intrigued about India’s past. Even after more than six decades had elapsed since the nation gained independence and the right to self-governance, he sought to understand why India was still developing with low per capita income.
Lokam asked what ticks economic growth and development and why economic development had to be a struggle. During this time, economists struggled for decades to answer why and how South Korea, Taiwan, and China successfully managed economic development. At the same time, every other presently-ranked low and lower-middle income countries had failed trying?
After years of research, Lokam has developed the theory and uncovered the ultimate explanation behind the East Asian Miracle, the causes of rapid economic development, and much else associated with and unique to the region’s success. He offers clear and consistent policy mechanisms drawn and data-proven based on the successes of Asian Miracle countries in achieving high growth rates for over three-and-a-half decades.
The book also explores and uncovers the ultimate reason behind the steep rise of the Chinese economy. It also charts the course for late developing nations to swiftly eclipse and transform into wealthy developed nations via the industrialization or non-industrial routes.
“The General Theory of Rapid Economic Development” book, set for release in December, helps develop a deeper appreciation and complete understanding of economic development. It shows developing countries the way through the process of successfully achieving rapid economic development.
Send in your interest at the book’s website here, and if you are lucky, you stand to get a free copy under the limited period advanced review program.
Entropy Works LLP