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Sunday, October 14, 2018

Economic development and its dimensions

Cat on the wall of ideological institutions cannot develop on economy.

Sir, these types of graphic presentations based on Data crunching are very interestung  useful for interesting  easy reference and nice.

The former CFO of a big firm shared this with me two days back.

While what, unfortunately these charts miss out, and of course, we cannot find fault with them, is the UTILIZATION and DISTRIBUTION of this wealth.

I wrote to him it is these aspect ( UTILIZATION and DISTRIBUTION) which are going to decide the ultimate outcomes of real economic benefits and manifestations of socio-economic comforts and unrest.

INDIA:INDIA has always been and shall continue to be, a vibrant economy, where most of the progress and prosperity are generated by individual entrepreneurs of all sizes and corporate houses.

Though the government owned sectors are huge in size, the proportionate percentage of their contribution to growth is pathetically low.

CHINA: Whereas, in China there is a huge synergy created between the two and that's why whatever others otherwise may or wish to attribute China's development. It has made huge strides in  many relevant economic development indices.

USA: USA has dominated the scenario as a master manager through man management, R&D, MILITARY might, providing good infrastructure,attracting the skill sets across the globe and many other obvious as well as clandestine multi-pronged strategies, scheming and manipulations. Besides all these, whether we like it or not, they have created very good infrastructure for all activities. They did all of that before the advent of protest and outrage epidemic.

No country can fully evolve on economic development indices if it tries to remain as a cat on the wall of ideological institutions. 

Intelligent administration must cleverly channelize (  euphemism for diverting) ideological aspects.

Russia and China of the 20th century did not allow any religious or political ideology to impede or interfere in the progress of economic development. They may have achieved it by some questionable means but the fact is they have achieved them.

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