Category: Why is India Poor?

[Continued from Part 3.]

Give me six hours to chop down a tree and I will spend the first four sharpening the axe, said Abe Lincoln. Astonishing how much profoundly practical wisdom is packaged into that simple declaration. Time spent in sharpening the tool is time well-spent; so is time spent in thinking through a problem and thoroughly understanding the problem before rushing off to solve it. And in most cases, since there is almost nothing new under the sun, there are already known solutions to many problem. So the most efficient method to solve a problem is to first seek the solution that someone may have figured out already.
Continue reading “Lee Kuan Yew on India — Part 4”

[Continued from Part 2.]

The recent performance of India’s private sector has underlined an important economics lesson, that competitive markets work where too often the command and control system founders. Within your arm’s reach is a device which is a miracle of modern technology—the cell phone. It took the government telecom monopoly 45 years—from 1951 to 1996—to install around 14 million land lines. Between 1996 and 2000, with the liberalization of the telecom sector, India’s installed capacity doubled to around 30 million lines. In the next five years, India’s telephone companies added another 90 million lines (of which 70 million were cell phone lines.)
Continue reading “Lee Kuan Yew on India – Part 3”

{Continued from Part 1}

Reading Lee Kuan Yew’s lecture is edifying at various levels. As an observer, he is incomparable. But he did not merely observe; he hinted at solutions and did so without being rude. You know the Hindi saying, samajhdar ko eshara kafi hota hai (to the intelligent, a mere gesture suffices). Unfortunately, his talk to the Congress and other assorted disciples of Nehru must have been as useful as a bicycle to a fish. Nothing that LKY prescribed for India is surprising or counter-intuitive. Yet it is good to hear it from one who has not only talked the talk but actually walked the walk. Continue reading “Lee Kuan Yew on India – Part 2”

Lee Kuan Yew was invited to deliver the 37th Jawaharlal Nehru Memorial Lecture on 21st Nov 2005 in New Delhi. He called it “India in an Asian Renaissance.” I am an unabashed admirer of Lee Kuan Yew and I should also add that I am a very severe critic of Jawaharlal Nehru. So I decided to read Yew’s lecture and also read between the lines and make a few comments
Continue reading “Lee Kuan Yew on India”