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India lifted 415M out of poverty in 15 years, says UN

economictimes.indiatimes.com

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Re: India lifted 415M out of poverty in 15 years, says UN

#271

Post by twawaaay »

deepzn wrote: post #233
FooBarWidget wrote: post #203

Earlier quoted context omitted.

When I see Indian developers, I have in my mind that they're similar to Chinese: the whole village bands together and gather resources to give that one kid a university education and a good job, so that that one kid returns to the village many years later to help people out of poverty.

not villages necessarily, families look out for each other, everyone's own kin.

It is different for different cultures but also depends on mobility.

In western world it is currently family but that's because family ties are much more likely to be preserved over time than ties to your village.

In other places in the world people are so immobile that they are expected to be born, grow up, work and die in the same village. And so ties to your local community are much more likely to be preserved over time just like ties to your family. It is not that the village replaces your family, it is just another group of people where it makes sense to invest to get something back in the future. Imagine you had tight knit group of friends where you left school but somehow are still able to stick together. If you trusted that this will continue for a long time it would be much easier to invest within the group knowing somebody might help you out later.

Re: India lifted 415M out of poverty in 15 years, says UN

#272

Post by refurb »

joenot443 wrote: post #14

Do millennial and gen-z Indians have a similarly skeptical view towards capitalism held by so many young people in NA and the EU? I had a friend tell me the other day that I couldn't be anti-racist if I wasn't anti-capitalist, because capitalism is by inherently racist. Ever since 2018 or so it seems as if anti-capitalism has become part of the mainstream progressive Western viewpoint, while I don't remember that bei…

It’s not India, but Vietnam has one of the highest supports for capitalism of any country.

Not surprising considering the terrible conditions under the communist economic policy and then the shift to capitalism in the 80’s.

”No less than 95 percent of Vietnamese respondents said most people were better off under free market capitalism.“

https://thediplomat.com/2014/10/capitalisms-biggest-fan-is-a...

It’s easy to criticize capitalism if you’ve never lived under the alternatives I guess.

The entrepreneurial spirit is really impressive. You can call up some store and say “can you have someone bring the clothes to my home to try on?” and they’ll say “no problem”. They’re dynamic, resourceful and willing be flexible.

People start companies all the time. Of course the lack of paperwork and regulations (they exist, but mostly ignored) helps immensely.

Re: India lifted 415M out of poverty in 15 years, says UN

#273

Post by xenotize »

DiogenesKynikos wrote: post #256
socialdemocrat wrote: post #84

Earlier quoted context omitted.

I just have an issue with the CCP and their apologists. That is primarily who people refer to when they say China. It is pretty common speech. Same when talking about America doing something, we refer to the US government primarily, not its people.

The problem is that many people who say, "I just hate the CCP" go on to say things like, * "China steals everything" (which essentially labels Chinese people as thieves). * "Chinese scientists created CoVID-19 and then lied about it" (alleging that Chinese scientists have no integrity). * "China only copies" (implying that Chinese people aren't creative). * "Chinese numbers are all fake" (implying that millions of Ch…

The Chinese government has built work camps and committed genocide against Muslims in their northwestern provinces. With the CCP covering up things like that, I don't think it really matters how nuanced or rosy you are trying to be.

Re: India lifted 415M out of poverty in 15 years, says UN

#274

Post by rippercushions »

Dharmakirti wrote: post #157
aerovistae wrote: post #13

Interested in comments from anyone who lives in India or has experience/familiarity with it as to whether reality on the ground matches the rosy picture painted in the article.

I can tell my personal story if that matters. Background: I come from a non-UC, rural yeoman farmers family. I grew up in rural India and used to spend my summer and winter vacations working on our family farm along with my cousins. I was the first Engineer in my family and studied in a Government college, and most of my batchmates were from a similar background, with over 50% of them being lower classes. I have witn…

> The infrastructure is also much better than it was in the 90s. My grandfather would be shocked to see the Nagpur Metro and would think Aliens built it.

I think this is underappreciated. Yes, infra in India is still not Switzerland, but eg. airports are now unimaginably better compared to just 20 years ago, when you needed a biohazard suit to venture into the bathrooms at DEL.

Re: India lifted 415M out of poverty in 15 years, says UN

#275

Post by sabujp »

anuvrat1 wrote: post #259
sabujp wrote: post #180

Why does the US need to stick to a 2% inflation rate? India's has exceeded 5% for decades ( https://www.worlddata.info/asia/india/inflation-rates.php#:~... .). Indian stock market shows no signs of recession. If you held since 1990 (or inception) (data from tv https://www.tradingview.com/x/rGnAJxlH/ ) : Ethereum +9110% India NIFTY50 +6059% Bitcoin +5566% Nasdaq100 +4705% Shanghai SSE Composite +2307% NIFTY100 +1709%…

If you want the reasoning, this IMF paper[1] goes into the detail. Generally gist is development rate (like GDP) is high in developing country, so is the inflation [1: Inflation Targeting as a Framework for Monetary Policy]: https://www.imf.org/external/pubs/ft/issues/issues15/

India's central bank target inflation rate is 4% +- 2%, and even now the rate is still at 7-8% and they're in no hurry to try to reduce it (https://www.reuters.com/world/india/exclusive-india-govt-in-...).

Re: India lifted 415M out of poverty in 15 years, says UN

#276

Post by dang »

mensetmanusman wrote: post #15

Such an awesome accomplishment. Also, it’s interestingly a huge black eye to the CCP: news of this Indian accomplishment will be censored in China, because it proves that nations can progress without forced-sterilization/-abortion/-1-child-policy/authoritarianism/ etc.

"Eschew flamebait. Avoid generic tangents."

https://news.ycombinator.com/newsguidelines.html

Re: India lifted 415M out of poverty in 15 years, says UN

#277

Post by ping00 »

DiogenesKynikos wrote: post #256
socialdemocrat wrote: post #84

Earlier quoted context omitted.

I just have an issue with the CCP and their apologists. That is primarily who people refer to when they say China. It is pretty common speech. Same when talking about America doing something, we refer to the US government primarily, not its people.

The problem is that many people who say, "I just hate the CCP" go on to say things like, * "China steals everything" (which essentially labels Chinese people as thieves). * "Chinese scientists created CoVID-19 and then lied about it" (alleging that Chinese scientists have no integrity). * "China only copies" (implying that Chinese people aren't creative). * "Chinese numbers are all fake" (implying that millions of Ch…

Well said.

Re: India lifted 415M out of poverty in 15 years, says UN

#278

Post by dmix »

synergy20 wrote: post #238

Per my observation over the years, India immigrants are unique at hi-tech job market, when one India became a manager, over one or two years, all his team is pretty much filled up with people from India, this is unseen in other ethnic groups like Chinese, Japanese, or any other races. I can not stop thinking if they violated Equal Employment Opportunity (EEO) laws in US.

People preferring to work with people from their own (sub)cultures, languages, and social networks (networks which often develop in schools) is pretty normal and I don't see it as inherently a bad thing.

In an ideal world you hire from a broad pool of people from the public but in reality hiring people you know tends to lower risk and a natural phenomenon.

But obviously it shouldn't be a hard rule, talent and applicable skills/personality should be what comes first every time.

If the company is entirely all Indian, over a long period of time, when they work in a diverse city then it's probably a sign they aren't looking broadly enough for talent and that is not just negatively biased socially, it's also bad for business.

Re: India lifted 415M out of poverty in 15 years, says UN

#279

Post by oska »

FooBarWidget wrote: post #231
richard___ wrote: post #28

Earlier quoted context omitted.

Why do so many people on HN hate on China? What's your relationship with Chinese people in your personal life?

As a Chinese I want to say thank you for posting this. It's really ridiculous...

More than ridiculous, it's often outright bigotry (the original comment here being firmly in that category).

Re: India lifted 415M out of poverty in 15 years, says UN

#280

Post by dang »

seibelj wrote: post #5

[flagged]

For Hayek's sake, would you please stop it with the generic ideological flamewar comments? I don't want to ban you and you're making it seriously hard. How many dozens of times have we asked you not to do this at this point?

https://news.ycombinator.com/newsguidelines.html

Edit: actually your recent comment feed is so full of this that it seems you've stopped using HN for anything else. As that is not what this site is for, and destroys what it is for, I've banned your account. If you don't want to be banned, you're welcome to email hn@ycombinator.com and give us reason to believe that you'll follow the rules in the future. They're here: https://news.ycombinator.com/newsguidelines.html.

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