Manmohan Singh had a unique ability to spot talented individuals and place them in roles where they could make a big impact. He believed in the importance of using people's skills in the best way possible.
He was a great mentor to many young economists and helped them navigate their careers. Singh's guidance allowed them to contribute significantly to India's economic reforms.
Singh focused on building strong networks and relationships, recognizing that teamwork was essential for lasting change. His approach emphasized collaboration over individual brilliance.
Classics remain timeless. It's often the older books, like George Orwell's and Orhan Pamuk's works, that resonate deeply and teach us about human struggle and society.
Trade and economics books can provide clarity on complex issues. Understanding the history of trade policies helps us navigate present challenges in global economics.
Identity and culture shape our perspectives. Exploring themes of identity through various lenses, like literature and history, enhances our understanding of ourselves and the world around us.
Zakir Hussain was a master tabla player known for blending various music styles. He mixed Hindustani classical music with other genres like jazz and rock, creating a unique sound.
His upbringing was unique because he received support from his family, including his mother and wife, to explore different musical paths. This openness allowed him to learn from diverse musical backgrounds and artists.
Zakir's concerts were not just performances; they were experiences. He had a special way of connecting with audiences, making them feel engaged, whether he was playing solo or with other musicians.
Indian Americans have a big impact in the US, especially in jobs and politics, even though they make up a small percentage of the population. They are often highly educated and hold significant roles in many companies.
The rise of political figures like Kamala Harris and Usha Vance shows a growing presence of Indian Americans in both political parties. Their backgrounds reveal important insights about education and opportunities tied to caste.
Many Indian Americans tend to vote Democratic due to issues like immigration and healthcare. However, there are concerns about policies that they feel disadvantage their kids, like college admissions.
India's economic focus has shifted from broad reforms that help all businesses to a system where a few large companies get special deals. This switch encourages favoritism and makes things harder for smaller companies.
The Goods and Services Tax (GST) is a key example of this change. Instead of simplifying taxes, it's become complicated, leading to confusion and more lobbying by big companies to get favorable treatment.
The government's support for specific big firms has created an uneven playing field. This setup harms innovation and investment because businesses need connections to succeed rather than competitive practices.
Media bias may have influenced the exit polls, with some outlets showing strong support for Modi. This bias springs from the government's power over media companies.
There are concerns about preference falsification, where voters might say they support Modi due to fear of backlash. However, evidence suggests this is not the primary issue.
A major problem is faulty sampling. Without recent census data, pollsters struggle to accurately represent the diverse Indian electorate, leading to unreliable exit poll results.
Despite the positive claims about India's economic growth, there's a mismatch between the hype and actual investment. Many business leaders are cautious and not investing as expected.
Gross Fixed Capital Formation (GFCF), which shows how much is being invested in long-lasting assets, has been low during Modi's years. This suggests businesses might not feel confident about the economy.
Uncertainty from changes in policies and regulations makes businesses hesitant to invest long-term. A stable rule of law is crucial for encouraging investment and economic growth.
India's malapportionment in electoral constituencies is severe, leading to a lack of adherence to the principle of 'one person, one vote'.
The freezing of seat allocations in India based on 1971 census data has led to unequal representation, particularly impacting economically disadvantaged regions.
Potential solutions include redesigning the Rajya Sabha based on revenue-raising capacity, moving towards a fully decentralized fiscal system, and increasing the number of Lok Sabha seats to uphold the 'one person, one vote' principle.
Implementing homegrown reforms was crucial for India's economic stability after the 1991 crisis, rather than relying on external best practices.
B.R. Ambedkar, known as a Dalit icon, was also an economist with insights on public finance and economic reforms relevant even today.
Fellowship opportunities like the Mercatus Don Lavoie and James Buchanan fellowships offer valuable financial support for students pursuing further studies.