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Shantanu-ji,
You are inspirational. You are attempting to explain the basics of economics to India which is probably the most illiterate nation when it comes to basic laws of economics.
You are exposing the insidious nature of government in India that is eating away any prospect of prosperity from its citizen by the leeching effect of the license-quota-permit raj.
All the best to you!!!
Very apt examples given to drive home the point! In India, we grow up believing that Govt is the Lord (mai baap), police is the Lord,etc.
Half-hearted liberalization in India has resulted in a confused economic scenario: the country aspires to move forward, compete with the world, but is crippled by the same Govt which is supposed to liberate it!
Great video Shantanu,
A fitting riposte to all those who equate liberalization with increase in deprivation.
However, your characterization of rickshaw as an asset being underutilized under the individual ownership system is not completely accurate. For the simple reason that in any city in India, the demand for rickshaw rides during the night is likely to be small or zero. Thus, the question of rickshaws not being optimally used for 12 hours a day does not arise.
But fantastic video overall, hope to see many more like these.
Very good argument Shantanu. Another valid argument to this question is the issue of unseen (As Milton Friedman would put it). Remember how many industries have prospered because of “liberalisation” which resulted in lakhs of direct & in-direct jobs created because of it. Just an eg. software industry not only created jobs for software engineers, there are lakhs of jobs in house keeping staff, catering, security services, transport/cabs etc which directly helped the lesser/semi skilled folks. Now the question do they prefer to work there or scream they are poor and depend on Govt handouts.
Of course the middle class has prospered more because of their better education/skillsets & opportunities, but the standard of living of the poorer sections have also increased at a greater speed (For eg. cable color tv & mobile phone is now minimum of even the poor).
its these kind of videos that should go viral. not the singhvi kind. i think thats a clear indication where our priorities lie. cant help india. jai hind.
@RC: Thanks for the encouragement…pl do share and spread the word.
@ Munish: Thanks!
@Satvik: Thanks and good point about rickshaw (except that it can still be utilised for 14-16 hrs against, no?). Thanks for the feedback though and yes, more videos in the pipeline..Stay tuned!
@ Sunil: Thanks..and very good point about how standards have risen across the board.
@senthil: Thanks! Pl do share & spread..I am sure one day, we will be able to blow away this darkness of ignorance.
Jai Hind, Jai Bharat!
@Satvik, the point is not about whether there is a demand during the night or not but rather whether or not a rikshaw owner has choice to deploy his asset in a way s/he chooses.
@Shantanu, you seem to have touched upon an issue which very few people talk about. Most of our conversation is mostly centered on macro issues (i.e central govt., national politics, etc). There is very little at the local level. During my last two year stay in Pune, I have personally experienced how the people who need the most are systematically deprived. Especially the migrant labor who come from different states. Take example of PDS/ration card system. People who work for us do not have one (and they do not want to go through the hassle of getting one), and these are the people are born and brought up in the state. To get anything one needs a proof of identity and proof of address. Proof of address is one of the hardest thing for these people. So, to get a cell phone, there is one person who buys cell phone for everyone (why do we need someones proof of identity and proof of address to get a cell phone? What is this penchant of collecting so much data). To open a bank account, the same story. When we travel out, we cannot to funds transfer as they do not have bank account, so we are forced to leave their salary in an envelope with one of our neighbors. Local governance is what we ought to be talking about, and we need to figure out a way so that people are engaged at the local level.
This is brilliant, Shantanu. I hope it goes viral. This is just the kind of thing India needs. Please come out with many more of these. Let’s have a series. I’d like to upload this on FTI’s website right away – will check with FTI.
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@Shantanu, Good lecture but I have personally two observation –
1. Topic is not correct – When you write Liberalization in heading with question on growth I feel it spreads wrong message. Liberalization is the only government policy which has shown us the better world and given hopes to millions of middle class Indians to become rich and enjoy prosperity. We must give due respect to LIBERALIZATION.
2. Government unwanted regulations spread corruption – This needs special emphasis and need to be discussed in detail. There is an urgent need of Administrative reforms following liberalization which has not taken place in India resulting our liberalization is still the slave of government machinery. Governments have talked about these reforms but still our bureaucrats are unaware about the path of growth because strong administrative reforms.
this is very important topic..
Firstly i would like talk about other comments ..
#kamekish– Sir If you have noticed that Mr. shantanu did not say anything about LIBERALIZATION, which is not respectable. He want to say( what i understood) that the + effect of LIBERALIZATION could not reach on level of ,where we need now and not even now it required since independent, poverty. I am totally satisfied with your opinion Mr. Kamekish and i respect also LIBERALIZATION but not just for that LIBERALIZATION gives opportunity to improve the economy, socially level of middle class family… Even LIBERALIZATION helps INDIA to make a Big Economy Image in the world and gives so many jobs to people, those are under BPL. ..ok that issue is also important that all workers (BPL-as unskilled worker) are not getting good salary & services ,which could be enough for survive .
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.that issue Mr. Shantanu have underlined ..here he gave a very good example of Riksha puller in delhi..that Gov. have given & made a policy that delhi need 100,000 Riksha and these will be not for rent…but what effect comes after this policy you know very well Sir..
Here we can take a example of reform in such kind of problems..That is–Mulayam Sing Yadav said in a rally that he will give all Riksha Puller a Gift as a Motor Riksha..so that Riksha Puller can earn more then now and what Mr. shantanu said -that Riksha should be named as asset but riksha puller work only 8-10 hours and other 14-16 hours this asset stand useless because of a gov. policy( can’t give on rent to others)..But Mulayam singh Yadav just said only –his party did not say anything about it till yet…but he gave a good solution for such problem..
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. Mr. shantanu now i come on You .. I really respect your thinking and guts… sir really you are genius ..no doubt..
.now i want to say..that LIBERALIZATION is not bad for India and it would be not wrong for poor persons also, IF we make them aware about Gov.Policy and train them as a skilled worker..so that they can take more benefit of LIBERALIZATION and other policy of Gov.. But They are not well trained ..here you know very well that what are the problem.. . but if we stop LIBERALIZATION policy ..that is also not right. we should go for reforms in Administration as well as our thinking level also, as Mr.KAMEKISH said..
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.Sir I am as your Son ..please teach & guide me if my view is not relevant..
@Manish: Re. the rickshaw, yes, absolutely – it is about choice and the freedom to make those choices..
About your other points, I have been thinking about this..perhaps will try and record something once I have some thoughts to share…thanks
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@Sanjeev: Thanks…There are few more snippets that I am trying to edit/upload…stay tuned.
Pl go ahead and post this on FTI website..
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@Kamekish: The topic was deliberately provocative..hope it does not get misunderstood..
I might discuss regulations in more detail in perhaps a separate video at some point…Thanks
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@Satya: Well said..and you make excellent arguments…and please, please don’t embarrass me with such high praise!
Remember, we are all EQUALLY capable..What we need to ensure is that each one of us gets equal opportunities to develop…Jai Hind, Jai Bharat!
Very true !!! Many people agree with such points said by you and Mr. Sabhlok.
But off the track, I just have a question for Both Mr. Sabhlok and Mr. Shantanu.
I have been reading the blogs and discussions in their respective sites. The fundamental change about which both of them are talking about and probably working towards that goal is absolutely great. We all Indians need these changes for sure. But the way they have chosen i.e. propagating their ideas through internet and bring revolution is not quite a practical tool. India has 121 million internet users today, out of which 2% are rural. How many people out of 121 million come across these blogs and discussions? it is mostly limited to a very few. we need change at grass root level. Real fundamental change.
How is it possible without going to actual ground?
Deepak: Re. “going to actual ground”, please have a look at: http://www.youtube.com/JaiDharma
and https://plus.google.com/photos/109617535699251166450/albums?banner=pwa
Happy to come to your town/city too…Would you be able to help me plan some meetings? Thanks..Jai Hind, Jai Bharat!