000-tobecategorised

India's GDP: Whose GDP Is It Really? with Rathin Roy | How India's Economy Works | The Core Report  https://www.youtube.com/watch?v=e4UVuOPSM0w   Rathin Roy about India's economic growth and challenges, the country's economic transformation, the need for inclusive development, the growing disconnect between the masses and the growth process

the impact of big tech companies like Google and Meta on market competition in India and the recent antitrust ruling against google. They explore how these giants dominate industries through data extraction, stifling innovation and harming suppliers, the need for new regulations to address anti-competitive behavior, the role of digital gatekeepers in shaping the future of the digital economy and much more. https://www.thecore.in/podcasts/big-techs-hidden-costs-and-power-with-payal-malik-632547

https://www.rediff.com/money/column/rathin-roy-the-threats-to-indias-prosperity/20240722.htm These are less 'jobs' than low-paid activities. The contemporary Indian economy is one where:

45 per cent of the labour force works in agriculture.
The share of manufacturing in GDP has fallen to 13 per cent.
800 million people need subsidised food.
Over 100 million people between the ages of 18 and 35 are neither in education nor actively looking for employment.

All the problems of poor countries -- poverty, malnutrition, poor education, ill health, third-rate housing, difficult public transport, poor sanitation -- persisted, even as the rich enjoy globally opulent lifestyles.

These are failed economies, in contrast to the handful -- Ireland, Japan, South Korea, Taiwan, China -- where universal access to basic needs and prosperity became available to all as these countries grew richer.

India has only recently become a middle-income country.

My hope has always been that India will join the minority of nations that will secure a successful development transformation.

But looking under the hood, I see India on the terrible, but commonplace, road to prosperity failure.

There is still scope to remedy these matters, but this will require structural change.

Americans Distrusting Capitalism!! | Lessons For India?? https://www.youtube.com/watch?v=mEIo91ZHrFU  | Deshbhakt Conversation With Ruchir Sharma   Aug 21, 2024 Ruchir Sharma - What Went Wrong With Capitalism - where he explores why even in the USA...people are getting increasingly disillusioned with how the economy & capitalism. Capitalism should not be pro-business, but pro competittion. https://youtu.be/mEIo91ZHrFU?t=741 Incumbents can manipulate the regulations. The new ones have a problem..  India has  seen a maximum amount of new billionaires in the last few years. 

What went wrong with capitalism?  https://indianexpress.com/article/books-and-literature/what-went-wrong-with-capitalism-ruchir-sharma-book-review-9408451/  Low interest rates became the solution to every problem. Governments found it cheap to borrow. Except for a brief period under Bill Clinton, no government retrenched spending. So debt became a problem. The political choices in the US are tax cut and increased spending (Republicans) or tax and increased spending (Democrats). The Keynesian intuition that government spending should be counter-cyclical was replaced by a philosophy of a ‘permanent stimulus’.Low interest rates became the solution to every problem. Governments found it cheap to borrow. Except for a brief period under Bill Clinton, no government retrenched spending. So debt became a problem. The political choices in the US are tax cut and increased spending (Republicans) or tax and increased spending (Democrats). The Keynesian intuition that government spending should be counter-cyclical was replaced by a philosophy of a ‘permanent stimulus’.

Cheap money created asset bubbles which fuelled deep inequality and capital concentration. Prices were distorted. Finance began to dominate the economy. Finance also distorted the moral compass: the best and brightest, instead of figuring out productivity-enhancing innovations, were now manipulating complex spreadsheets. Meanwhile, all these were being done in the name of the poor.

 https://richmedia.lse.ac.uk/publiclecturesandevents/20240703_1830_WhatWentWrongWithCapitalism.mp3  Sharma says progressive youth are partly right and that capitalism has morphed into “socialism for the very rich.” The broader issue, however, is socialised risk for the poor, the middle class and the rich; government is trying to guarantee that no one ever suffers economic pain by borrowing heavily to prevent recessions, extend recoveries, and generate endless growth. The result is rapidly rising debt and declining competition. 

Bombay High Court orders Maharashtra to establish social media handles to report Manual Scavenging    https://www.barandbench.com/news/bombay-high-court-orders-maharashtra-establish-social-media-handle-reporting-manual-scavenging 

The order was passed on a petition filed by Shramik Janata Sangh, represented by Senior Advocate Gayatri Singh. "The Department of Social Welfare will also create a dedicated email address for each of the District Level Committees and Vigilance Committees. It shall also create a Social Media handle where citizens and non-governmental organisations can report instances of manual scavenging, which the District Level Committee and Vigilance Committee can examine. This will aid the Social Welfare Department in its statutory duty to ensure that manual scavenging does not take place. This is an addition to the duties cast on the officers under the Act of 2013," the Court said in its order passed on August 20.

For full judgement https://images.assettype.com/barandbench/2024-08-22/jtbbwgbo/Shramik_Janata_Sangh_v_State_of_Maharashtra.pdf 

WA Cooment: But, this is the regular practice here to keep the sewage disposal lines flowing. Till a feasible alternative is worked out, the maximum that one can expect is better safety protections for the manual scavengers. Right today, there's apparently none.