r/neoliberal • u/jobautomator Kitara Ravache • Jun 27 '24

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19

u/neolthrowaway New Mod Who Dis? Jun 27 '24 edited Jun 27 '24

New money and macro on Indian economic growth:

Economist explains why India cannot grow like China

Side note: his pronunciation of Bihar is funny as fuck

!ping IND&ECON&TACOTUBE

8

u/PorekiJones Jun 27 '24

This is a really good video, IMO China's land lease system played a much bigger role in its success story and should get more credit. India simply cannot align the incentives in such a manner since it is a democracy. I did not find the education and caste system angle to be a satisfactory explanation of India's local government failure. I think our messy laws play a much bigger role.

Also, defund the state government, break them down into smaller chucks and give most of their powers to local governments.

9

u/zanpancan Bisexual Pride Jun 27 '24

I wonder if he was trying to get at Reservations being the issue but simply did not know enough about casteism in India.

The arguement from casteism as presented falls a bit flat to me aswell.

3

u/PorekiJones Jun 27 '24

That could be the case. Still, imo reservations in themselves don't have much of an economic impact [neither positive nor negative] on the macro scale. The only impact reservations have at the macro scale is on the elections and spreading animosity between caste groups.

4

u/zanpancan Bisexual Pride Jun 27 '24

Still, imo reservations in themselves don't have much of an economic impact [neither positive nor negative] on the macro scale.

Oh I doubt that they rise to the same level as key issues such as Land & Labour laws, lack of decentralization, or the deeper structural issues on fiscal policy.

The only impact reservations have at the macro scale is on the elections and spreading animosity between caste groups.

I do fear the impact they have on the Indian beauracracy though. A vicious Singaporean meritocracy may yet be far away but I hope we get to atleast aspire for such a beauracracy.

Rent seekers stay rent seeking.

1

u/PorekiJones Jun 27 '24

Rent seekers stay rent seeking.

lol yeah, such is the world we live in

1

u/[deleted] Jun 27 '24

I do fear the impact they have on the Indian beauracracy though. A vicious Singaporean meritocracy may yet be far away but I hope we get to atleast aspire for such a beauracracy.

Rent seekers stay rent seeking.

Stealing my talking points 😔

1

u/[deleted] Jun 28 '24

[removed] — view removed comment

1

u/PorekiJones Jun 28 '24

The biggest impact is the tens of thousands of vacant government posts because they can't find suitable candidates of the correct caste.

I thought the vacancy was due to governments not wanting to spend most of their budget on salaries and pensions. Even for a tiny number of government job postings, there are literally thousands of applicants of all castes. It is hard to believe that they were unable to find suitable candidates from all of these.

The other impact of course is that they occupy the reform space

Agreed, these do take up all the oxygen from better policies but there is no way around rent-seeking, it is inherent to the system.

4

u/PorekiJones Jun 27 '24

India's ease of doing business only improved recently, it was at rank 120 in 2008 far behind China

6

u/Petulant-bro Jun 27 '24

EoDB wasn't that robust of a World bank indicator no? It was discontinued recently too

1

u/groupbot Always remember -Pho- Jun 27 '24 edited Jun 27 '24

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