University of Chicago Booth Podcast on Informal Markets in Northeastern India Provides Interesting Insight into Extending Credit in Ethnic Communities and Responsibilities for Family Debt reposted by Ruth Paget
This University of Chicago Booth Podcast podcast discusses the work of Rimmy E. Tony on the millenias’ old bazaar market in Shillong in Northeastern India.
Tomy reports that informal markets contribute 30% of GDP and 70% of national employment in India.
The Shillong City bazaar serves various ethnic communities due to immigration with “trust” operating to extend credit within these communities.
One form of trust is established by having children, who can assume parents’ when they die.
To listen to this podcast or read the audio transcript about the role of informal markets in India, click on the link below:
Reposted by Ruth Paget
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