Archive for November 3rd, 2015

Indian economists/thinkers new fascination with Deng Xioping..

November 3, 2015

Earlier, much of our economic thinking and benchmarking was based on Western leaders/policymakers. So, one would quote Reagan, Thatcher and so on and ask Indian leaders to act just like they did. The general advice was that all our economic policy and thinking should be as close to these guys who revamped and reshaped their economies. Now, as the western economies have collapsed and people are questioning the Thatcher/Reagan (and others) ideas, one is looking for some other benchmarks here in India.

The new (relatively new) benchmark is Deng Xioping. This is ironical as it is highly unlikely that Deng would have thought that he would get praise from people on economics matters, that too from India! But I have been reading articles by quite a few where comparisons have shifted from the Western leaders to Deng. The crucial question is Who will be India’s Deng? Is it our current PM? This is even more ironical given the mess China is in now and is paying a price for lopsided development. Yes, it achieved high growth for 30 years but there were costs associated with it. Those costs could be minimised (rather ignored) in China given the autocracy, but can we afford it in India? This is where bulk of the problem is for economists who only use the narrow lens of economics and not of social science as a whole.

Here is one such article:

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How Brijmohan Munjal rebuilt his company – twice?

November 3, 2015

A nice piece from BS edit team on BM Munjal’s legacy (calling him a true hero):

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