Hi Elliot!
Elliot:
Ideas, once created, can be shared widely. material is cheap.
why does india not have the technology (ideas + material) needed to access a
standard of living beyong utter poverty. I suggest the answer is the profit
motive, few dollars would come from the increased Quality the sharing of
ideas and material could produce. So indian engineers come to america to
try and gain some cash, and steel sits in american storehouses unused (ok,
so material isnt a huge problem, but it is in efficent for it to sit when it
could be reinforcing weak buildings or producing food for the hungry
masses), and indian peasants arent educated to build, use or understand
technology. Profit, or lack of it is the reason for this, not because
indians are to stupid or lazy to do it for themselves.
ROG:
I suggest it the problem is 50 years of socialistic economic policies. They
had one of the most protectionist trade policies around (85% average tarifs
prior to '91), their finance markets are nationalized, and their prices and
wages are heavily regulated. As a result of excessive interference, 91% of
the Indian economy actually takes place through the black market. In other
words, to escape excessive regulations, Indians are forced to go into a
completely unregulated realm where formal financing is impossible, corruption
is rampant and lawlessness reigns.
India has a disfunctional market that allows for the creation of industrious
small black market businesses yet that undermines most opportunities for mass
production (as soon as they get big they get noticed and regulated to death).
The best and brightest in India are indeed finding that the easiest way to
succeed is to go to modern countries which offer a chance to do so.
Rog
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