Understanding Economic Disparities

There are moments when history takes a decisive turn—when long-standing injustices are challenged, and fairness prevails. Yesterday was one such moment. The #Waqf Bill, with 14 crucial amendments proposed by the #NDA, has been cleared by the Joint Parliamentary Committee. For years, countless citizens—especially those caught in legal disputes—have raised concerns about the unchecked control of Waqf Boards, the lack of transparency, and the arbitrary land acquisitions under Waqf laws. Many families have lost ancestral homes, #businesses, and lands, often without proper legal recourse. Why the 14 Amendments: A New Dawn for Justice? With these amendments, the government is ensuring that: 1. No more arbitrary land acquisitions – All land disputes will be subjected to stricter #legal scrutiny and cannot be taken over without due process. 2. Accountability in Waqf Boards – No single body will have unchecked power over thousands of crores worth of land. 3. Transparency in governance – Every decision involving Waqf property will have public scrutiny and legal oversight. 4. Equality for all citizens– These amendments take a step toward uniform property rights, ensuring fairness for every #Indian, regardless of religion. These changes are not against any community but are meant to ensure that every citizen has equal property rights under the Constitution. What Does the Indian Constitution Say About Waqf and Property Rights? The Waqf Act, 1995, governs the management of Waqf properties in #India. However, there have been serious concerns regarding its alignment with constitutional values of equality, fairness, and secularism. Key Constitutional Provisions Relevant to This Reform: 1️⃣ Article 14 (Right to Equality) – Every citizen, irrespective of #religion, should have equal protection under the law. However, in many cases, Waqf Boards have had extraordinary powers over land acquisition, violating this principle. 2️⃣ Article 19(1)(f) (Freedom to Own Property) [before 1978 amendment] – Although the right to property is now a constitutional right (not a fundamental right), the government must ensure that no law unfairly deprives citizens of their land. 3️⃣ Article 25-28 (Freedom of Religion) – These amendments do not target any religion but ensure that religious institutions are accountable under the law, just like any other organization. 4️⃣ Article 300A (Right to Property) – No person shall be deprived of their property except by the authority of law. Many cases of Waqf land acquisitions have been challenged for violating this right. Why This Reform is Necessary? For too long, the Waqf Act has operated beyond the scope of judicial review, leading to allegations of unfair practices. These amendments bring much-needed legal accountability and balance while respecting India’s secular fabric. #JusticeForAll #WaqfBillReform #EqualRights #IndiaFirst #LegalReforms #Accountability #Transparency #Democracy

The New York Times report on the NYC OMB’s latest data is concerning. Excluding 2020, employment growth in the first half of this year was the slowest since 2008. As a New Yorker myself, I had to dig into the data. Excluding government, 9 out of 12 key industries tracked by the OMB saw a net decline in employment during the first half of 2025 (chart below). Many industries that reduced headcounts this year, such as finance & insurance, professional & business services, arts & entertainment, and education, are fundamental to the city’s economy. The largest contributor to employment gains was healthcare & social assistance, adding nearly 29K jobs in NYC. Without this sector, employment in NYC remains below pre-pandemic levels. However, the significant cuts to Medicaid in the latest federal spending bill are a source of concern for this sector. The NY State estimated a $13.5 billion annual reduction in federal funding. What does this all mean for the city? There are warning signs, but the city's economy has been in a holding pattern. While the hiring has slowed, the unemployment rate in the NYC area remains stable. While tourist arrivals have been down this year, NYC saw a more aggressive return to office compared to the rest of the nation, shoring up office occupancy rates and commercial activity in office districts as a result. The impact on the housing market is more nuanced. As the labor market continues to slow, the effect could first appear in the rental market. Softening consumer confidence can weigh on renter demand through slower household growth. Those worried about near-term job security may be less likely to strike out on their own, eliminating new households that would have been formed otherwise. For instance, recent graduates just starting their careers might be more inclined to stay at their parents’ place longer. Nevertheless, the city’s housing market continues to show strong activity as it attracts buyers with more financial liquidity. The recent decline in mortgage rates has encouraged sellers to enter the market simultaneously. The potential divergence between rental and sales markets will be worth watching. #nyc #economy #labormarket

Doctors see it every day: families skipping checkups, delaying treatment, or showing up in crisis. When families are forced to make impossible choices—between groceries or utilities, between childcare or gas—seeking care isn’t just hard. Sometimes, the stress is the very thing that lands them in the ER in the first place. Because when families are stretched too thin, medicine can only go so far. Economic Security Project’s new report in partnership with Health and Political Economy Project co-chaired by Darrick Hamilton (founding Director, Institute for Race, Power, and Political Economy), and Dr. Dave A. Chokshi, MD (Sternberg Family Professor of Leadership at City College of New York and former NYC Health Commissioner), with Dr. Victor Roy as Director (physician, sociologist, and Assistant Professor at University of Pennsylvania), and Mara Heneghan as Associate Director (policy strategist, formerly at Cook County President’s and Chicago Mayor's office), “The Resilience Factor: Cash as a Tool Toward Better Health for Young Families,” shares insights from eight healthcare professions including pediatricians, OBs, psychiatrists, doulas, and others who are rethinking what care looks like—and naming cash as a vital public health intervention for young families that can lead to: ✅ Healthier pregnancies and better birth outcomes ✅ Improved mental health for parents, kids, and even providers ✅ Stability in the face of medical emergencies Programs like Rx Kids led by Dr. Mona Hanna, Dana-Farber Cancer Institute’s Pediatric RISE, and Expecting Justice’s Abundant Birth Project, under the leadership of Dr. Zea Malawa, MD, MPH (one of the incredible providers featured in the report!) are already delivering measurable health results through cash. We know cash isn’t a silver bullet—but it’s a missing piece of the care puzzle. And for families dealing with health challenges and economic instability, that kind of support just can’t wait. Read the full report: https://lnkd.in/gePB-tDb #HealthcareForCash #PublicHealth #GuaranteedIncome #HealthcareJustice #MentalHealth #MaternalHealth #TheResilienceFactor Dana-Farber Cancer Institute, Children's HealthWatch, Boston Medical Center (BMC), The Bridge Project

As a New Yorker and regular subway rider who regularly deals with delays, has observed rain storms waterfalling onto our platforms as elderly...well, as all folks struggle to get through safely to the subway, or flat-out cancellations of subway service due to rainstorms leaving riders stranded and facing a choice between a $150 cab ride to get home or a 6-hour wait, the flip on congestion pricing is maddening. And while I might be able to afford the occasional impromptu surged car share as I did to get home during last year's rains, most people in this City can't. This will hit NYC's most economically vulnerable hardest, and compromises our ability to have a functional system today, much less as climate impacts worsen. https://lnkd.in/enkWjD5m

Point of view on addressing tenancy for inclusive growth in India agriculture & allied sectors: The future of Indian agriculture holds significant growth potential, yet two major challenges hinder progress: the predominance of small and marginal landholdings and the widespread issue of tenancy. Although initiatives like Farmer Producer Organizations (FPOs), cooperatives, and Self-Help Groups (SHGs) have emerged to support small farmers, limited actions have been taken to address tenancy complexities. Around 40-50% of farmland is under tenancy, with tenants often lacking security, resources, and social protections. To empower tenant farmers and create an equitable policy framework, the following initiatives could be implemented: - Comprehensive Land Reforms: Legally recognize tenant rights & simplify leasing processes. - Access to Credit: Develop tailored credit schemes for tenants to boost productivity. - Cooperative Models: Promote tenant cooperatives to enhance bargaining power. - Social Protection Measures: Introduce targeted schemes for tenants, including insurance & subsidies. - Research and Data Collection: Improve understanding of tenancy patterns to inform policy-making. - Awareness and Capacity Building: Educate tenants about their rights & negotiation skills. By adopting the above interventions, we can improve inclusiveness, foster equitable rural development, and enhance the livelihoods of millions of tenant farmers in India. #TenantFarmers #AgriculturalReform #LandReform #SmallHolderFarmers #EquityInAgriculture #AgriculturalPolicy #CreditAccess Ministry of Agriculture & Farmers Welfare, Government of India Ministry of Food Processing Industries Ministry of Agriculture, Animal Industry and Fisheries Ministry of Cooperation Shivraj Singh Chouhan

Worth a read .. How much is really enough? How can we truly feel yes, we’re good now, we’ve made it, we’re settled and going to be fine… Professionally and personally, much resonated. In this NYT opinion piece, Astra Taylor discusses the difference between inequality and insecurity, the concept of “manufactured insecurity” and its impact on all, and makes the case for community and solidarity as a way forward. We certainly experienced this during our local Covid pandemic response work. “..unlike inequality, insecurity is more than a binary of haves and have-nots. Its universality reveals the degree to which unnecessary suffering is widespread — even among those who appear to be doing well. We are all, to varying degrees, overwhelmed and apprehensive, fearful of what the future might have in store. We are on guard, anxious, incomplete and exposed to risk. To cope, we scramble and strive, shoring ourselves up against potential threats. We work hard, shop hard, hustle, get credentialed, scrimp and save, invest, diet, self-medicate, meditate, exercise, exfoliate.” … “Part of the insidious and overwhelming power of insecurity is that, unlike inequality, it is subjective. Sentiments, or how real people actually feel, rarely map rationally onto statistics; you do not have to be at rock bottom to feel insecure, because insecurity results as much from expectation as from deprivation. Unlike inequality, which offers a snapshot of the distribution of wealth at a certain moment in time, insecurity spans the present and future, anticipating what may come next. This is why insecurity affects people on every rung of the economic ladder, even if its harshest edge is predictably reserved for those at the bottom. Recent years have produced an abundance of scholarship demonstrating the negative effects of inequality on health and happiness across the board. Rising inequality, and the insecurity it causes, correlates with higher rates of physical illness, depression, anxiety, drug abuse and addiction. Living in a highly competitive, consumerist society makes everyone more status-conscious, stressed out and sick.” … “History, including recent history, shows that hard times, or even the mere anticipation of them — the feeling of being economically insecure and anticipating the worst, whether or not those fears are objectively justified — can increase the appeal of racism and xenophobia.” … “Insecurity also allows us to connect and change..When we extend trust and support to others, we improve everyone’s security — including our own.” … "Recognizing our shared existential insecurity, and understanding how it is currently used against us, can be a first step toward forging solidarity. Solidarity, in the end, is one of the most important forms of security we can possess — the security of confronting our shared predicament as humans on this planet in crisis, together." https://lnkd.in/ej-tPPD6

I am happy to share the third edition of my newsletter India Decoded. This month, I do a deep dive into land market reforms. India stands at a critical juncture. As the world's most populous nation, we face a unique challenge: escaping the middle-income trap. My latest essay explores how reforming our dysfunctional land markets could be the key to unlocking sustainable, inclusive growth. Did you know that efficient land markets could boost India's GDP by 1.3-1.5% annually? Or that only 19% of rural land has clear titles? These are just a few of the eye-opening facts I dive into. From West Bengal's Operation Barga to Karnataka's Bhoomi Project, I examine past successes and failures in Indian land reform. I look at international examples too - from Rwanda's use of drones for land mapping to Georgia's blockchain-based land registry to how Vienna is an example of the smart use of land policy for affordable housing. The essay outlines a comprehensive roadmap for reform, including: • Short-term goals like nationwide digitization of land records • Medium-term strategies such as modernizing zoning laws • Long-term visions like an AI-driven national land-use strategy Ready to explore how we can transform India's land markets for inclusive growth? #IndianEconomy #LandReform #EconomicGrowth #PolicyReform

Have you seen this? Two and a half hours of sharp economic debate on The Diary of a CEO — Gary Stevenson (former Citibank trader turned economist) and Daniel Priestley (serial entrepreneur and author) with Steven Bartlett. (#DOAC). The gist? The US and UK economies are in serious trouble. Stevenson says inequality is the root cause. Without serious redistribution — especially through wealth taxes — the system destabilises. Priestley counters that entrepreneurship is the fix. Capitalism still works; it just needs more creators, not more tax. They both make compelling points. But what’s missing is the bigger shift underneath it all: The nature of work — and companies — has fundamentally changed. Over the past two decades, we’ve watched capital efficiency become the north star. Outsourcing, automation, labour arbitrage, and relentless M&A have stripped companies of their original shape and purpose. Private equity and VC have poured fuel on it. Businesses are now vehicles for return, not institutions for work. Debt is loaded on. Costs are gutted. Exits are planned long before real value is built. The result? Fewer companies that employ people in meaningful, long-term ways. In the UK, wages have stagnated. Productivity has flatlined. Entire sectors have been hollowed out. Profits flow elsewhere. So does ownership. And the tax base erodes as a result. Meanwhile, in-work poverty is rising. Economic insecurity is normal. And a generation of workers no longer believes that effort leads to progress — or even stability. So yes, debate taxes. Champion entrepreneurship. But neither will fix the structural imbalance we’re living through. Not until we answer the more fundamental question: What are companies actually for? Because if they exist solely to extract value, then this system is working exactly as designed — and it will keep producing the same outcomes: fewer good jobs, more insecurity, and deeper inequality. But if we believe companies should create value — for people, for communities, for the future — then we can’t keep rewarding models that hollow them out. That’s the real conversation we need to have. https://lnkd.in/d2BQPdNM

For decades, India's approach to its land market has been a story of incremental tweaks and failed legislative pushes. We are now at a point where a more audacious, structural overhaul is not just an option, but a necessity. Towards this, the Confederation of Indian Industry (CII) has put forward a bold blueprint that deserves serious attention. It's not just another list of suggestions; it's a proposal to re-engineer the entire governance architecture of land in India. Here are its three game-changing pillars: 1. A GST Council for Land: Land is a state subject, resulting in a confusing patchwork of laws and taxes. The GST Council created a unified national market for goods by bringing the Centre and states together for consensus-based decisions. A similar council for land could harmonise titling laws, conversion procedures, and zoning regulations, creating a predictable, competitive environment across India. 2. Integrated State Land Authorities: Ask any investor about their biggest frustration, and they'll mention the "multiplicity of authorities." To get land, you run between the Revenue, Urban Development, Environment, and Industry departments. The CII proposes a single-window, Integrated Land Authority in each state. One authority, one application, one point of contact. This would slash delays and corruption. 3. Conclusive Titling - The Foundational Reform: This is the most critical proposal. We must transition from our current "presumptive" system, which fuels endless litigation, to a "conclusive" titling system where the state legally guarantees ownership. This single move would provide absolute certainty, de-risk investments, and unlock land's true value as a financial asset. These proposals are not about tinkering at the edges. They represent a fundamental shift in how we govern our most valuable economic asset. The call for conclusive titling is essentially a call to build a modern land ecosystem-a single, guaranteed source of truth that allows banks, businesses, and Govt agencies to transact with certainty. Implementing this blueprint requires immense political will. It demands a "grand bargain" where industry gets certainty in exchange for transparency, and landowners get fair compensation in exchange for a streamlined process. And PM Modi’s recently announced task force for "next-generation reforms" provides the perfect platform to champion this agenda. It's time to move beyond the old debates and build a modern land governance system worthy of a 21st-century economic power. And this is one key area demanding action. Thoughts? Devendra Agrawal - Dexter Capital Advisors / Dexter Ventures / Delta Investment Advisors

This should be obvious but is often downplayed: experiences we have as children shaped by our family's financial wellbeing have a significant impact on the psychological coping mechanism we have as adults. This includes willingness to take risks to advance our careers, fear of job loss, and ability to overcome career setbacks. These things also impact physical and mental health through stress and anxiety. Sadly, many societies may be going the wrong way when it comes to creating job environments that help to break these inter-generational cycles of childhood adversity. The larger issue is the risk of trapping large segments of society in an endless series of precarious jobs rooted in factors resulting from adverse childhood experiences. The idea of the "self-made man" is largely a myth based on a few rare outliers. Statistically, by far the best way to become rich as an adult is to grow up rich as a child. Most wealthy people grew up in homes where access to food and shelter was not a significant issue. Even though we can point to notable exceptions to this pattern the fact remains that these are exceptions. If we are to overcome the increasing skill shortages affecting our economies, we need to find ways to lessen the impact of childhood adversity on long-term career success. Potential is equally distributed across society, opportunity is not. "Since the 1970s, work has become increasingly precarious, uncertain, unstable, and insecure and in which employees bear the risks of work (as opposed to businesses or the government). Various factors have contributed to this trend, including changes in the legislation and practices related to employment relationships, the increasing speed of industrial restructuring and changing nature of work, and the persistent volatility in the business cycle. Workers’ perception of job insecurity, or concern about potential involuntary job loss, causes strain and undermines well-being. Job insecurity might have additional systemic consequences, in that it disproportionately undermines the well-being of workers who grew up in relatively poorer families, regardless of their current financial situation. In doing so, job insecurity acts as an invisible mechanism that reproduces childhood inequalities."