Angry young Indians: What a waste
economist.com
Angry young Indians: What a waste
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Re: Angry young Indians: What a waste
#2>The average age of cabinet ministers is 65. The country has never had a prime minister born in independent India.
>One man who might buck that trend, Rahul Gandhi, is the son, >grandson and great-grandson of former prime ministers.
>India is run by gerontocrats and epigones: grey hairs and groomed heirs.
Aside from that wonderful turn of phrase, this may well be the key concept: India has long been run by entrenched interests for their own benefit and the situation shows no signs of abating.
Re: Angry young Indians: What a waste
#3>Worryingly, a growing share of household saving is bypassing the financial system altogether, seeking refuge from inflation in gold, bricks and mortar.
This is great. It means it's a kind of sustainable. 1) In case of a crisis (which will come) It won't be thrown back too much.
1) I think India is anything but sustainable due to their enormous population growth.
Re: Angry young Indians: What a waste
#4>Worryingly, a growing share of household saving is bypassing the financial system altogether, seeking refuge from inflation in gold, bricks and mortar. This is great. It means it's a kind of sustainable. 1) In case of a crisis (which will come) It won't be thrown back too much. 1) I think India is anything but sustainable due to their enormous population growth.
Why does their population growth have to be a negative? They are currently as big as China, which will have the biggest economy in the world within a decade. They should invest in the population and rise to the top.
Re: Angry young Indians: What a waste
#5Words, words, and more empty words!
> But the likes of Bharat Forge and Mahindra & Mahindra prefer to employ sophisticated machinery rather than abundant labour.
Surely, it employs labour. Why does the author claim that machines are preferred over labour? What does he compare it with? Where are the numbers?
> At the other end of the spectrum are innumerable tinpot workshops, employing handfuls of people and outdated methods.
Sure, there are such workshops. Everywhere.
> What India lacks is a Mittelstand of midsized, labour-hungry firms.
Anything to back up this claim? How does India compare to other countries on this front? Where is the data? Where is the analysis?
> These include India’s notorious labour laws which, on paper, prevent factories firing anyone without the state’s permission.
Is this really true? What Act/Article Number should I be looking at?
My impression of the article is that it is a tale / Told by an idiot, full of sound and fury, / Signifying nothing.
Re: Angry young Indians: What a waste
#6Words, words, and more empty words! > But the likes of Bharat Forge and Mahindra & Mahindra prefer to employ sophisticated machinery rather than abundant labour. Surely, it employs labour. Why does the author claim that machines are preferred over labour? What does he compare it with? Where are the numbers? > At the other end of the spectrum are innumerable tinpot workshops, employing handfuls of people and outdated…
Nice tear down of a planted story. Regular people were not the intended audience of this hit piece.
Re: Angry young Indians: What a waste
#7>Worryingly, a growing share of household saving is bypassing the financial system altogether, seeking refuge from inflation in gold, bricks and mortar. This is great. It means it's a kind of sustainable. 1) In case of a crisis (which will come) It won't be thrown back too much. 1) I think India is anything but sustainable due to their enormous population growth.
Why does their population growth have to be a negative? They are currently as big as China, which will have the biggest economy in the world within a decade. They should invest in the population and rise to the top.
I have the impression that the landmass of India is insufficient to sustain its population. Let's say the food supply is managed perfectly (it isn't) and no one is going hungry. How about the fact that 60% of the population does not have access to reliable electricity? How about the fact that most big cities have scheduled power-cuts (mostly in summer) for 2-6 hours each day? Energy needs are just the tip of this iceberg. I think of India's population as one of the most significant factors in keeping the country poor and underdeveloped.
Re: Angry young Indians: What a waste
#8Words, words, and more empty words! > But the likes of Bharat Forge and Mahindra & Mahindra prefer to employ sophisticated machinery rather than abundant labour. Surely, it employs labour. Why does the author claim that machines are preferred over labour? What does he compare it with? Where are the numbers? > At the other end of the spectrum are innumerable tinpot workshops, employing handfuls of people and outdated…
Well do you have any figures to back your clam that this is an idiotic piece? Comparison of India and China is a common topic on the Economist (and elsewhere). These are countries with comparable population, demographics, history of exploitation by the West, and they are both in Asia. Sure, theere are large difference in the details but I think the question that, given its tremendous presence in the tech field, very much comparable to China, why has India not excelled as much as its neighbor? This article is trying to argue the thesis that the "Chinese economic revolution" was mostly due to them exploiting their manpower to great effect (even when Mao was in power this was their strategy, it was just done in a misguided and primitive way) while India has
been less successful in achieving this.
Re: Angry young Indians: What a waste
#9Words, words, and more empty words! > But the likes of Bharat Forge and Mahindra & Mahindra prefer to employ sophisticated machinery rather than abundant labour. Surely, it employs labour. Why does the author claim that machines are preferred over labour? What does he compare it with? Where are the numbers? > At the other end of the spectrum are innumerable tinpot workshops, employing handfuls of people and outdated…
As usual when someone posts an Economist leader article, someone is indignant that it is a little thin. The actual briefing article, at a couple of thousand words longer, is still journalism rather than a scholarly paper, i.e. it doesn't cite every fact, but it does state the numbers behind its assertions.
Re: Angry young Indians: What a waste
#10Words, words, and more empty words! > But the likes of Bharat Forge and Mahindra & Mahindra prefer to employ sophisticated machinery rather than abundant labour. Surely, it employs labour. Why does the author claim that machines are preferred over labour? What does he compare it with? Where are the numbers? > At the other end of the spectrum are innumerable tinpot workshops, employing handfuls of people and outdated…
Nice tear down of a planted story. Regular people were not the intended audience of this hit piece.
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I work at a firm that manufacture goods and has a few factories.
Everything mentioned in the article is true, and grossly downplays the gritty reality to make for simple reading.