Comments on: Wealth Creation, Not Wealth Substitution

By: Wealth Creation

Wealth Creation — Wed, 28 Dec 2005 14:03:41 +0000

One major factor in staying independent of the west is to keep your currency “untied” to the US Dollar. India is the largest democracy in the world. People forget that. China and India have the momentum as emerging economic powers. This will always threaten whoever is currently at the top. Create your wealth within your borders. Stay away from foreign ownership and employ your own people.

By: GGK

GGK — Fri, 09 Sep 2005 21:13:24 +0000

for non subscribers for wsj
the article can be seen at
http://www.ivanyi-consultants.com/articles/wealthcreation.html

By: Prashant Kothari

Prashant Kothari — Fri, 02 Sep 2005 03:16:59 +0000

Vishal

Apropos your comments about railways being disregarded.. che3ck out Atanu Dey’s essays
1) http://indianeconomy.org/2005/07/17/an-integrated-rail-transportation-system/
2) http://indianeconomy.org/2005/07/22/irts-part-2/

By: Ishani

Ishani — Thu, 01 Sep 2005 13:06:46 +0000

Two comments:
1. This notion that China and India evoke fear is exaggerated. Of course, there will be political debate about outsourcing jobs, but has the US actually done anything about it? No. The developing world is benefiting from these emerging economies and global growth is good for everyone. There is a HUGE difference between Africa and China/India. There is so much concern about Africa because there seems to be no hope in that continent. China and India have up-and-coming economies, India has a flourishing democracy, both countries are on a hot path to growth. Africa on the other hand is full of corrupt dictators, genocide prevails, their institutions are in shambles– OF COURSE we need to be concerned about Africa.

2. Prahalad is using very faulty logic in trying to say that Africa got aid but is stil poor so aid is bad. Replacing government by private agencies at the “bottom rung” is risky business. Can we count on private entrepreneuship to provide BASIC amenities like education and health if there is no big profit in it? And what happens if they decide to pull out suddenly? Cell phones are NOT basic amenities like food or water or shelter. They involve large technologies-of-scale that make them profitable and attractive to entrepreneurs. But what a WEAK example in trying to use the cellphone industry to model provision of basic human needs!!

By: Vishal

Vishal — Thu, 01 Sep 2005 10:40:51 +0000

I would also say that a well-functioning transportation network is
essential in civilizing a country ie keeping it away from anarchy.
That could also be a difference between India/china and africa.

By the way, despite new National Highways and cheap airlines, the
travel in India is getting less and less civilized, thanks
to Indian railways dysfunction and Govt’s determination in
not funding Railways’s much needed track expansion (mainly track doublings)
It is very peculiar that in the time of rising oil prices, the Govt
encourages air travel by putting in thousands of crores for airport
construction and also private investment. While much more efficient
railways (which also provides for travel for 95% of Indians)
is largely disregarded. It is as if the Elite of bureucrats, politicians
and high journalists have decided that they only care for air travel and
let the middle and lower classes goto hell.