Thanks for the recommendations. In the last segment, the author of “The Rise…” makes one comment that rang loud and clear with me – that India has an entrepreneurial culture. Every time I visit India, I marvel at the sight of hundreds of little, one-man businesses flourishing within a few hundred yards of sidewalk. In a country where jobs have always been scarce, at least for the semi- or uneducated, entrepreneurship has, of necessity, been a way of life.
I am not sure if the “entrepreneurial culture of Indians” is more an outcome of forced entrepreneurism to an extent. the point is that before we get carried away by this fact, maybe we ought to examine if given a choice, the roadside vendor, tea-stall owner or even the marginal farmer wouldn’t rather be in a secure well-paying job. I have heard some place that at 108 mn entrepreneurs, we have the world’s largest pool of entrepreneurs. Still, is this more an outcome of poor industrial and economic growth in earlier years or a natural outcome of our cultural traits needs thinking through. On the other sie, I do see a substantial number of the highly educated seeking to start up businesses than remaining in the employ of exiting well-established businesses.
Of course the tea stall wallah was forced into entrepreneurship because of lack of job opportunities. The point isn’t whether Indians, genetically or culturally, are more inclined towards entrepreneurship. The point is that any economy that owns such a massive pool of entrepreneurs, for whatever reason, has a competitive advantage.