India is in the news and not because of call centers and IITs or its stock market or economic growth but in spite of them.
I was watching Mohammad Yonus on c-span in which he posited that "Poverty is an artificial state imposed on people by the system"
In the time and age we are living in, this is perhaps true more than any other time. I don't have all the answers, I don't know what India should do to eradicate poverty, but I am not entirely certain that the path India is on right now leads to that very goal. The top-down economy of boosting the rich in the hope that something would tickle down after the second coming of jesus christ (or who ever that is supposed to come and save us from this unmitigated disaster) has been working only for a small slice of the society and even then at a potentially catastrophic cost of depleting earth resources for feeding a hungry planet with billions of poeple in abject poverty.
The leftist government of India, failed to raise standard of living for any one, I have heard that the problem was mainly because there was a lot of corruption. How is it that central management of economy succeeds spectacularly in Japan and South Korea but fails in India, even thought India has a number of top notch schools and companies, even though not enough ?
A new paradigm for micro-economic model based on a new philosophy for industrial production must be brought in. It must be developed with a focused attention on the people, not the ellite.
The new technology should be based on new realities of the world we're living in. The old technolgoies of mass production are decendents of the Industrial revolution era, and are not adequate to promote economic prosperity in this new age.
The new philosphy must be cased on empowering the individual craftman and allowing him to bring his vision to market using a custom made effective force multiplier that allow him or her to minimize manual work while maximize creativity and innovation there by maximizing his or her productivity.