Caste as Social Capital

Description

About the Book :

Many consider caste as an outdated institution, though it thrives in post-liberalization India. That being the case, caste has only been studied from a religious, social and political angle. It is grudgingly accepted that caste has economic ramifications. For instance, the establishment and running of businesses tap into caste networks, both in terms of arranging finance and providing access to a ready workforce. Despite that, any study of this aspect has been limited to looking at caste groups in terms of their per capita income, their representation in various professions and other statistical details.

Caste as Social Capital examines the workings of caste through the lens of business, economics and entrepreneurship. It interrogates the role caste plays in the economic sphere in terms of facilitating the nuts and bolts of business and entrepreneurship: finance, markets and workforce. Through this qualitative view of caste, an entirely new picture emerges, which forces one to view the age-old institution of caste in a new light.

– Excerpts from Book Review by Arvind Gupta, Director VIF

Prof Vaidyanathan’s book, Caste as Social Capital, challenges several myths relating to the working of the caste system in India. Noting that while caste is commonly identified with oppression and discrimination, he points out that it also has positive aspects which have not been researched adequately. The main argument of the book is that “the jati or community or caste plays a major role in entrepreneurship and also facilitate the upward mobility of the whole caste rather than individual.”

Caste is complex social institution which cannot be missed away. It has both positive and negative aspects. The book brings out that the caste cannot be discussed in pure black and white terms. The trend of Vaishyavisation of castes may have positive impact on the politics of the country. The book, Caste as Social Capital enriches the discussion about the role of caste in Indian society.

The author observes that castes in India are increasingly taking to business and entrepreneurship. Tirupur in Tamilnadu, where Gounder caste predominates has now become a world-leader in knitted-garment industry. Likewise, the kite-making industry in Ahmedabad, worth around Rs 800 Crores, is dominated by Muslim entrepreneurs. In leather business too, Muslims are present in significant numbers. Dalits are also taking to business. Some Dalit entrepreneurs have built large business empires. A Dalit Chambers of Indian commerce and industry has been set-up.

• ISBN : 978-0143459491 ; 162 pages ; Penguin books

About the Author:

Prof. R. Vaidyanathan is a retired professor of finance who used to teach the Indian Institute of Management Bangalore.  A graduate of the Loyola College, Madras, and with a master’s degree from the Indian Statistical Institute, Calcutta, he obtained his doctorate from the Indian Institute of Management Calcutta, where he also taught for four years.

Prof. Vaidyanathan is a two-time Fulbright scholar and also a fellow of the ICSSR. He was visiting faculty at various universities in the USA and UK. In the past, he has been selected by Business Today as one of the ten best professors at all IIMs. He has had the rare privilege of being in the various committees of regulators like SEBI, RBI, IRDA and PFRDA. He is a consultant to many organizations and is on the board of many corporate firms.

Prof. Vaidyanathan was conferred the Lifetime Contribution Award by the Asia Pacific Risk and Insurance Association (APRIA) and Kybo Life in 2019. His 2013 book, India Uninc: Role of Non-Corporate Sectors in India, which focuses on Indian and Asian value systems, was well received by planners and policymakers. His 2017 book, Black money and Tax Havens, has been acclaimed by experts.

He is on the advisory council of the Vivekananda International Foundation. He was a member of the National Security Advisory Board under the National Security Council (2019-20). Currently he is Cho Ramaswamy Chair Professor in Public Policy at Sastra University, Tanjore, Tamil Nadu, and emeritus adjunct professor at the Rashtriya Raksha University (RRU), an institution of national importance located in Ahmedabad.