Crookbond Posted October 27, 2014 Posted October 27, 2014 I want to believe u as much as I want to believe gov. Rajan . but I am not convinced how no. of billionaires per trillion GDP is a criteria. The number of billionaires is so small that one has to look on a case-by-case basis. Imagine a small country where there's just 1 multi billion dollar company called 'A'. ..after 5 yrs' date=' say company 'B' and 'C' also become multi billion dollar cos. Tell me what diff.does it make if 'B' And 'C' belong to owners of company 'A' only(meaning they havent created any new billionairs) or belong to seperate owners (have created new billionaires) ?[/quote'] I think I now I understand your concern but I would stick with Rajan. Remember, a small country in this case is viewed by the GDP. The metric is decent because it tells you how the wealth of the country has grown (as said by the OP) and how it is distributed. It tells you that yes X is the wealth created but in this wealth creation process if we are almost exclusively generating billionaires then the wealth generated is concentrated in the hands of a select few or is it spread. So if the GDP has increased from 10 to 20 but the increase in GDP has created 5 billionaires - it is clear that the wealth is in the hands of the select few.
FischerTal Posted October 27, 2014 Posted October 27, 2014 Doesnt matter if its Congress or BJP. India is backward because that's what the people deserve. 90 % of population are worthless, incompetent, retarded individuals. GDP is high because population is high because of the result of people breeding like cockroaches. Per capita is among the lowest in the world just like other 3rd world $ hit holes like Pakistan, Nepal, Bangladesh, Nigeria etc. and yet you still live there B->
randomGuy Posted October 27, 2014 Posted October 27, 2014 @DM - Some people get very very rich - that's just the way economy works. The relevant thing is that wealth is not locked up, its invested and is creating lacs of jobs and completing important productive work.. see examples of amazon, facebook, google etc . Tata sons for ex. . They forayed into different fields like steel (tata steel), power (tata power), IT (TCS), Beverages (tata global beverages), auto (tata motors), chemicals etc etc. They did not create new billionaires , but their wealth increased many folds. (Meaning if they were billionaires earlier, they are multi-billionaires now). Are they fine as per your (or as you say Gov. Rajan's) model just because they did not create new billionaires?
Crookbond Posted October 27, 2014 Posted October 27, 2014 RG - The wealth has to be created but should not be concentrated in the hands of a select few. Btw, there is already a huge discussion about this in the US itself. Here are a couple of videos - QPKKQnijnsM LfgSEwjAeno Even someone like Bill Gates doesn't espouse at this model of economy but rather looks up at the Nordic countries.
Crookbond Posted October 27, 2014 Posted October 27, 2014 I must add - I am not against the creation of Facebook, Amazon and Googles - I want more of these from India. But, I am concerned the wealth gap which has only increased since 2009.
sticky wicket Posted October 28, 2014 Posted October 28, 2014 On a different parameter, Gini coefficient, in terms of income equality India is not doing too bad, countries like US, Mexico, Latin nations, South Africa, Russia are a disaster.
Vilander Posted October 28, 2014 Posted October 28, 2014 Its also abt the balance of trade. US imports IT' date=' pharma etc from India. Balance of trade is skewed in India's favour. That also prompts India to import weaponry from the US (apart from the weapon requirement ofcourse ) to an extent...[/quote'] hmm that could be one of the contributory reasons, but all transactions esp for external defense procurements are $ based, and we have negative trade balance with most OEM EU nations thats not stopping us from Importing weapons further from them.
Vilander Posted October 28, 2014 Posted October 28, 2014 There is no dearth of foreign capital that will get attracted to India if we continue to reform (keeping national interest intact while doing so ofcourse). India can be FII-magnet like Hrithik Roshan is a chick-magnet. This attitude is actually the gift of Congress to India - Zero confidence, zero sense of pride among many Indians. And this attitude is totally misplaced ofcourse. Many Indian companies, Indian institutions and Indians as individuals are names par excellence in their respective fields. oh did not notice your super preachy geneuinly high school level bravado pearl there, stop judging people unless you are required by profession and try not to generalize its just makes one appear stupid. Stating a problem and accepting its existence is the first step towards resolving them. India is mediocre in many respects, a weak manufacturing sector, monsoon dependent Agriculture very intensive not productive, even diary and poultry are not productive. Livestock generally not productive despite revolutions, widespread corruption, non existent to poor healthcare and sanitation, haphazard and inefficient infra development, lack of strategic polity in foreign policy, CAD,Trade deficits,lack of energy resources, wastage of thorium reserves,lack of indigenous R&D in strategic industries, populatione explosion, BD immigrants, Maoist and Jihadi terror, land mafia,sand mafia,rape,desease,kap panchayats,AAP :) ...lol one can stack up so many ills.
randomGuy Posted October 29, 2014 Posted October 29, 2014 oh did not notice Hope thats actually the case, coz it seemed you were thinking of a lengthy reply all this while.:haha: your super preachy geneuinly high school level bravado pearl there, stop judging people unless you are required by profession and try not to generalize its just makes one appear stupid. Its ironical you say this after what you've written is that post - "mediocre like everything else in India" Stating a problem and accepting its existence is the first step towards resolving them. India is mediocre in many respects, a weak manufacturing sector, monsoon dependent Agriculture very intensive not productive, even diary and poultry are not productive. Livestock generally not productive despite revolutions, widespread corruption, non existent to poor healthcare and sanitation, haphazard and inefficient infra development, lack of strategic polity in foreign policy, CAD,Trade deficits,lack of energy resources, wastage of thorium reserves,lack of indigenous R&D in strategic industries, populatione explosion, BD immigrants, Maoist and Jihadi terror, land mafia,sand mafia,rape,desease,kap panchayats,AAP :) ...lol one can stack up so many ills. Some of the issues above are not valid anymore and some are. I never said everything is hunky-dory, alot of things obviously aren't . Wouldn't go into each and every issue you raised above coz with you, I do not think I have the time or inclination honestly to debate. Don't be all touchy now like you have been responding to other posts. Btw I could easily provide one hundred plus names (without even consulting google) of Indian businesses and organizations in various domains (IT, pharma, medical equipment , auto, auto ancilliaries, space research, infrastructure, garments, capital goods etc etc) which are as good as any in the world if not better, which are serving the needs of the world not just India. Have confidence and pride in yourself and on fellow Indians.
Vilander Posted October 29, 2014 Posted October 29, 2014 Hope thats actually the case, coz it seemed you were thinking of a lengthy reply all this while.:haha: Its ironical you say this after what you've written is that post - "mediocre like everything else in India" Some of the issues above are not valid anymore and some are. I never said everything is hunky-dory, alot of things obviously aren't . Wouldn't go into each and every issue you raised above coz with you, I do not think I have the time or inclination honestly to debate. Don't be all touchy now like you have been responding to other posts. Btw I could easily provide one hundred plus names (without even consulting google) of Indian businesses and organizations in various domains (IT, pharma, medical equipment , auto, auto ancilliaries, space research, infrastructure, garments, capital goods etc etc) which are as good as any in the world if not better, which are serving the needs of the world not just India. Have confidence and pride in yourself and on fellow Indians. yap yap, i do not have sufficient interest to respond point by point rebuttal honestly. 100 plus business names prove nothing, what about widespread poverty ? pathetic living conditions, 'some of the issues' that are still valid as per your own admission. India is mediocre its not a generalization for the most part just a collective subjectivity. I don't even want to go and retort about any of your silly accusations that i spent time researching to respond to you, makes me mildly amused thats about it.
randomGuy Posted October 29, 2014 Posted October 29, 2014 yap yap' date=' i do not have sufficient interest to respond point by point rebuttal honestly. 100 plus business names prove nothing, what about widespread poverty ? pathetic living conditions, 'some of the issues' that are still valid as per your own admission. India is mediocre its not a generalization for the most part just a collective subjectivity. I don't even want to go and retort about any of your silly accusations that i spent time researching to respond to you, makes me mildly amused thats about it.[/quote'] You clearly meant that everything is mediocre in India. Make yourself more aware of the good things Indians are doing yaar. Like I said there's lots and lots of great things being done by Indian businesses from IT/software to auto/auto components to garments to life saving drugs, newly developed drugs to equipment involving cutting edge tech to infra projects. Your country has the ability to compete and lead the US, China(like done in Mars mission) and Europe. When I said I can enumerate 100+ names without searching online, there are clearly many more such names. As a very small example - check out this Indian company's projects (includes Avatar, Transformers, Harry Potter etc) that does Visual Effects, 3D Conversion and Animation with 4500 employees worldwide.
G_B_ Posted October 29, 2014 Posted October 29, 2014 about time it was stuck at 1.8 for the past few years. It was expected. A stabilized rupee + inflation more than 5 % meant in nominal terms the gains for India would be enough to cross $ 2 trillion. Fair to say that I expected India to overtake Brazil in the coming 5 years in terms of nominal gdp.
Kalia_Test Posted October 29, 2014 Posted October 29, 2014 In Electrical Engineering, we have concept of Generation ---> Transmission ---> Distribution The sequence is important...If you don't generate electricity, there is nothing to transmit or distribute If we try to map this to Economics, for all to get wealthy, we need to first have wealth. We measure wealth of a country by its GDP so increase in GDP is never a bad thing. Again going back to Electrical Engineering, we try to look at innovative ways to generate Power ( Hydro, Thermal, Nuclear, Solar, Wind )...Same way, we try to innovate minimizing transmission and distribution losses ( due to Eddy currents,etc ). These 2 are not necessarily related. Hence I fail to understand how some posters are ridiculing about wealth inequality when the topic is on 'Generation'...
G_B_ Posted October 29, 2014 Posted October 29, 2014 I think I now I understand your concern but I would stick with Rajan. Remember' date=' a small country in this case is viewed by the GDP. The metric is decent because it tells you how the wealth of the country has grown (as said by the OP) and how it is distributed. It tells you that yes X is the wealth created but in this wealth creation process if we are almost exclusively generating billionaires then the wealth generated is concentrated in the hands of a select few or is it spread. So if the GDP has increased from 10 to 20 but the increase in GDP has created 5 billionaires - it is clear that the wealth is in the hands of the select few.[/quote'] India is industrializing (or attempting to) even in the UK which some would say was the birth of the industrial revolution the difference between rich and poor increased. Only post industrialization did wealth levels between rich and poor stabilize. If you watch Downton abbey , a theme of this season has been workers bargaining for their rights in a post industrial briton
Vilander Posted October 30, 2014 Posted October 30, 2014 You clearly meant that everything is mediocre in India. Make yourself more aware of the good things Indians are doing yaar. Like I said there's lots and lots of great things being done by Indian businesses from IT/software to auto/auto components to garments to life saving drugs, newly developed drugs to equipment involving cutting edge tech to infra projects. Your country has the ability to compete and lead the US, China(like done in Mars mission) and Europe. When I said I can enumerate 100+ names without searching online, there are clearly many more such names. As a very small example - check out this Indian company's projects (includes Avatar, Transformers, Harry Potter etc) that does Visual Effects, 3D Conversion and Animation with 4500 employees worldwide. Dont be hurt dude, i am am Indian too and i want India to be well developed. I like critiquing Indians because i would like us to be state of the art at lest aim for it always. Pissed off with mediocrity. But i understand what you say, i have spent almost all of my leisure scouring researching about indian tech advancements in defense sector for instance. people react differently to situations imo.
Vilander Posted October 30, 2014 Posted October 30, 2014 about time it was stuck at 1.8 for the past few years. It was expected. A stabilized rupee + inflation more than 5 % meant in nominal terms the gains for India would be enough to cross $ 2 trillion. Fair to say that I expected India to overtake Brazil in the coming 5 years in terms of nominal gdp. such a frustrating time, i think it was called out in 2011 as imminent and then the fall came and for ever below 2.
Vilander Posted October 30, 2014 Posted October 30, 2014 WfoFOIHkBE4 this is self reflective, The producers see Indians as such today so are trying to put in a depraved albeit crass imagination wherein they see roles reversed by 2030, its basically a joke.
Vilander Posted October 30, 2014 Posted October 30, 2014 In Electrical Engineering, we have concept of Generation ---> Transmission ---> Distribution The sequence is important...If you don't generate electricity, there is nothing to transmit or distribute If we try to map this to Economics, for all to get wealthy, we need to first have wealth. We measure wealth of a country by its GDP so increase in GDP is never a bad thing. Again going back to Electrical Engineering, we try to look at innovative ways to generate Power ( Hydro, Thermal, Nuclear, Solar, Wind )...Same way, we try to innovate minimizing transmission and distribution losses ( due to Eddy currents,etc ). These 2 are not necessarily related. Hence I fail to understand how some posters are ridiculing about wealth inequality when the topic is on 'Generation'... GDP in real terms is globalized PPP is too localised, so any real growth is very good as it means more IP more trade surplus more alternative energy more cash.
randomGuy Posted October 30, 2014 Posted October 30, 2014 Dont be hurt dude' date=' i am am Indian too and i want India to be well developed. I like critiquing Indians because i would like us to be state of the art at lest aim for it always. Pissed off with mediocrity. But i understand what you say, i have spent almost all of my leisure scouring researching about indian tech advancements in defense sector for instance. people react differently to situations imo.[/quote'] Not hurt dude jee. Hope you aren't either.
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