Shift Happens

[onthebottom]

This is a bit of a repeat, but I heard a Libertarian on NPR after the mid term elections describing Conservatives as wanting to live in the 1950s and Liberals wanting to work in the 1950s.

The latter, hoping for a day when the economic and labor market is simpler and less dynamic, made me want to post this:

http://www.glumbert.com/media/shift

as it's own thread.

It's time to wake up to the new world, if you don't it will run you over.

OTB

 

[onthebottom]

The one ingredient you forget is innovation - something these two countries have very little of, or need. Until I see a motivation to develop a strong middle class, that demands more from it's economy, China and India will always place second to the Western Economies.


bbk

I'm not so sure about that.

While clearly both countries have a long way to go to match the transparency and maturity of the G8 economies I don't know that I think they lack innovation. I work with many India nationals, some who live here, some who live in Bangalore, I will tell you that these are some of the most aggressive and bright people I have ever meet. While many of my experiences are unpleasant (like sending a damn Yankee to sell in the South) I don't detect any lack of motivation to create a middle and upper class.

China has a political system that will not survive a strong middle class, India has a level of corruption that will not survive it either. Both countries are in for jarring transformations, that doesn't mean they won't give us a run for our money.

OTB