This week’s Economist carries a letter from a certain Murali Reddy of Lake Hiawatha, New Jersey. SIR – So, Krishnan Ganesh, one of the proud products of India’s higher-education system, is busy developing tools to help improve the quality of primary education in America by outsourcing teaching over the internet (Face value, June 23rd). Meanwhile, [...]
What should Indian governments do to help citizens get jobs? The central government clearly has wrong ideas—it intends to impose job quotas in the private sector for ‘backward’ communities/classes, which is perhaps the second worst thing it can do (the worst being “creating” more government jobs before giving them away). And we are not even [...]
“What sort of a woman are you? When this child was born, it seems she was born with your brain, so you have none left.” These were the words of a manager I once had. Let’s call him “M”. Luckily – for me, that is – these words were spoken by him to his wife, [...]
Back in the late 1990s, economists were trying to figure out what it was that led to the secular acceleration of economic growth in the United States: the longest and largest peace-time economic expansion in the 20th century (see footnotes). How was it that a country could grow so much and for so long without causing inflation and [...]
Remember John Kerry’s Benedict Arnold speech, Lou Dobbs and his infamous rant on outsourcing and most of all, Scott Kirwin? Well, Don Boudreaux of Cafe Hayek informs us of Scott’s current whereabouts: Almost three years ago, Scott Kirwin was Wired’s pissed off programmer (“The New Face of the Silicon Age,” issue 12.02). Tossed from his [...]
Reader and IEB friend, Joydeep Mukherji sent us this article from the Business Standard, noting that There is so much garbage about alleged “jobless growth” in India that this is a nice antidote. It shows how the booming textile sector in Punjab is running out of workers. The firms are raising wages, improving conditions, seeking [...]
Ajay Shah alerts us to a draft volume published by the World Bank (free download) titled Dancing with Giants: China, India and the global economy. Drawing upon the latest research, this volume analyzes the influences on the rapid future development of these two countries and examines how their growth is likely to impinge upon other [...]
The 21st century will be India’s. But some people just won’t get it.
What is common between these films? Garam Hawa (1940); Naya Daur (1957); Upkaar (1967); Namak Haram (1973); Jane Bhi Do Yaaron (1983); Damini (1993); Gupt (1997); Phir Bhi Dil Hai Hindustani (2000); Rang de Basanti (2006) As you might have guessed, each of these films portray the socio-economic realities of India in their times or [...]
The media “controversy” over offshore outsourcing subsides Angry rants and dismal laments about offshore outsourcing are joining over-excited Internet revolution articles from 1999 in the dust-bin. As we’d predicted. Greg Mankiw , who’s experienced the outsourcing sturm und drang first-hand, points us to this David Leonhardt article in the New York Times: A few years [...]
Two news incidents caught my eye that had a similar vein of job market conditions running through them. One, read about young American workers conducting part of their work-life in Bangalore in Americans seek opportunity in booming Bangalore. Two, labor shortage in China enables an increase in working conditions and benefits as portrayed in Labor [...]
Raghuram Rajan and Arvind Subramanian of the IMF have written an excellent op-ed in the Financial Times in which they diagnose a new problem, one they call the Bangalore Bug, and one whose symptoms have been addressed several times on this blog. I’ve reproduced the piece almost in full since I figured most of you [...]
Ajay Shah analyses the government wages and compares them with the prevalent market rates in Revising the wages of civil servants. The bottomline is captured below. The main story is simultaneously that while GOI employees at the top are incredibly underpaid – by market standards – the bulk of GOI employees (roughly 98% of them) [...]
I am not a great fan of Nasscom reports, but this one made me sit up. The technology sector (give or take a few) accounts for 36 billion dollars in revenue and just about 1.3 million jobs. So how much is it in real terms? A big part of the economy of a miniscule part?
It is time to correct India’s lopsided education budget Salaries in India, especially for skilled workers, are rising. This is almost invariably attributed to the projected shortage in the number of workers available to sustain the rapid growth in India’s IT, biotech and other services. Those alarmed by rising wages contend that this will make [...]
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