4 ms·
The problem is in the distribution of wealth. The nation is growing at 7-8% a year compared to 0-2% growth in US, but most of the wealth in India is in the hand
by americandesi333 15y ago
The problem is in the distribution of wealth. The nation is growing at 7-8% a year compared to 0-2% growth in US, but most of the wealth in India is in the hands of 5% of the population. The middle class is slowly growing, but not at the rate to close the disparity.
Democracy in its core is the reason for the slow infrastructure, government and social reforms because its like moving a big elephant. China on the other hand is able to be quite nimble with communism. Its interesting. I dont advocate communism because it sounds great in theory but rarely works practically, but it is working for China.
- yummyfajitas 15y agoIndia doesn't have as much inequality as you think. Their Gini index is very middle of the road at 36% (comparable to Switzerland and Spain). http://en.wikipedia.org/wiki/List_of_countries_by_income_equality http://en.wikipedia.org/wiki/List_of_countries_by_income_equ...
- 5l 15y agoI think the word you're looking for is totalitarianism, not communism.
- ashishgandhi 15y agoChina's growth comes from following capitalistic free market policies which are not communist in nature. (http://www.google.com/search?q=capitalism+in+china http://www.google.com/search?q=capitalism+in+china) Moreover, I remember listening to one of The Economist podcasts where someone had done audited Chinese firms more strictly where they don't write off the cheap (free) land government provides, or other give aways. Turns out on a whole Chinese firms are destroyers of capital and not creators. Crudely speaking, they take land and convert it to output X. The value of X tends to be lower than the value of the land.
- utkarshsinha 15y agoGandhi, is that you?
- ashishgandhi 15y agoOf course!
- utkarshsinha 15y agoproness!