Poverty

[Narayan S. Raja]

Well, with the excuse that this
discussion may provide a useful
data point for scholarly Indologists 
(regarding current opinions among 
Indians), I will take the liberty
of contributing one more message
to this thread...


On Tue, 22 Aug 1995, Dominik Wujastyk wrote:

> Narayan Sriranga Raja said
> > 
> > A healthy, well-educated young
> > person (analogous to India's
> > economy today) can compete on 
> > level terms with anyone.  
> 
> Even a cursory reading of contemporary literature on the Indian economy
> will show that it very far from being "a healthy well-educated young
> person."

Actually, I have been monitoring
the Indian economy itself (primary
data) with keen interest, ever 
since I was a teenager (for over 
ten years now).  This is due to personal 
interest, as well as the fact that 
my father (and myself) are long-term
investors in the (Indian) stock market.

One basic fact that jumps out at
you is that, in fact, most Indians
who follow business/finance are 
highly optimistic and confident
about the economy.  Their attitude
is "cut us loose and we can beat 
anyone."  Have you seen those T-shirts
that say "Bombay -- the Bigger Apple"?  
Of course, New York is not as significant 
a target as it used to be, but note the 
attitude...   So, I would say that
"A healthy, well-educated young person" 
is, in fact, a good analogy for the 
Indian economy.  We (Indians involved 
in business/finance) feel that way 
about our capabilities.  And unlike
earlier generations, with their gaseous
"moral superiirity," we don't say
this out of ignorance about the
rest of the world.  Like with all 
"young persons," the most noticeable 
fact to an outsider may be pimples.  
That's also natural.

Based on my assessment of the Indian 
economy (in turn, based on my background
as an engineer), I think that attitude 
("cut us loose and we can beat anyone") 
is not too unrealistic.  Of course, this
is not because of any inherent "superiority,"
but because we are in a particular
stage of development where wages are
still low, but confidence, enterpreneurship,
and professional/technological skills
are abundant.  Also, note that in India,
"cut us loose" refers to unchaining the
DOMESTIC industry.  No-one is screaming
to let in Coke and hamburger "technology,"
though that will also happen, and is
nothing to worry about.


> The Indian economy has huge hurdles to overcome before it can
> even begin to approach the performance of the Pacific Rim economies.

Assuming you mean Japan/S.Korea/Singapore,
etc., rather than Vanuatu/Papua/Kiribati
(which are also Pacific Rim economies), the
comparison is not particularly useful,
because unlike those small countries,
India cannot hope to become rich thru
exports.  Exporting is beneficial in
many ways, and should be eagerly pursued, 
but ultimately, the emphasis has to be on 
the domestic market.  

Even a small country like Japan is 
now facing threats and accusations
about Western economic crises allegedly
caused by its exports.  If India were
to follow the same path, it would be
at the cost of shutting down the rest of
the world economy, which is not going to
happen.  So that's out.


Anyway, all this talk about "development"
may be wishful thinking.  As an engineer,
I know it would be difficult to develop
India and China to Western levels using
current technology.  It would wipe out
the world's natural resources and destroy
the environment.  The only hope is for
radical changes in technology, together
with loving tenderness for the environment.


> And the jibe about imperialism-qua-vampire precisely
> begs the question that several of us have been trying
> to discuss rationally.

No offence was intended.  I think Indians
have only ourselves to blame for what
happened.


Regards,


Narayan Sriranga Raja.