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Nudging cultural goods: a step towards inclusive growth

Author

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  • Jisha Rajendran
  • Kavita Indapurkar

Abstract

According to Nobel laureate Richard Thaler, humans are not perfectly rational, but often deviate from their goals. Interestingly, technological breakthroughs like smartphones were created and consumers were nudged in their direction, thus making them dependent on it eventually. Similarly, a need for cultural products should also be created in India because this industry employs 30% of the workforce. The researchers therefore propose that it can be tapped to attain inclusive growth in a sustainable manner. In this regard, the aim is to discuss the means of attaining inclusive growth for people of cultural industry of India by applying the notions of cultural economics. For this purpose, the paper sheds light on the concepts of inclusive growth and sustainable livelihood in developing economies like India with specific reference to the people involved in cultural industry and discuss the contribution of cultural industry to other industries.

Suggested Citation

  • Jisha Rajendran & Kavita Indapurkar, 2020. "Nudging cultural goods: a step towards inclusive growth," International Journal of Indian Culture and Business Management, Inderscience Enterprises Ltd, vol. 20(2), pages 245-261.
    • Handle: RePEc:ids:ijicbm:v:20:y:2020:i:2:p:245-261
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