An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
Voters have turned to Narendra Modi, a Hindu nationalist and celibate “monk” from the Rashtriya Swayamsevak Sangh movement who rose from tea boy to run the state of Gujarat as a relative haven of free enterprise. Billed as India’s Margaret Thatcher, or its Shinzo Abe, some wonder whether he is not really a Hindu Putin, a strongman who plays with ethnic fire sitting on top of a fraying economy.
Almost all the success stories of the post-War era – beginning with Japan – saw a surge in manufacturing and productivity after the working age cohort rose above 60pc of the total population. This is typically a window of 10 to 15 years. India has already used it up, yet has been left behind as Vietnam, Indonesia, Mexico and others corner the mid-ranking industries. Mr Baweja blames the country’s fossilised labour laws.
Not enough expropriaton privatiziation and exploitation deregulation and wage flexibility.
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