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  • Lok Mohapatra says:

    Professor Sheth, you have expressed many insightful comments. It is very relevant that you have mentioned Abraham Lincoln. PM Modi is facing similar challenges as Abe Lincoln faced in 1860s. Lincoln did three major things: established his Republican Party; modernized the US economy; and unified the USA. PM Modi has to do all these three and much more. India is yet to be unified like China or the USA. Without an unified India, progress and advancement will be choppy and will be denied to many people in rural areas before their death. Further, PM Modi is yet to realize that market based economy is necessary. India should divest almost 80-90% of its stakes in all PSUs immediately, and build infrastructure with that money. Government should own infrastructures and people should own public equities. Second, the Western world has advanced far ahead of countries like India in education and research and skills. India should establish some 50 plus Ivy league type universities immediately to do scientific research and liberal education in addition to providing resources to rural colleges and opening vocational schools. Science is dismal in India. Further, no one including PM Modi realizes that the USA is the United States of 95% Employment. That is what drives consumption and production and maintains middle class in the USA and the Western World. India does not talk about 95% employment. India is still in Great Depression largely, particularly, in rural areas. PM Modi and others should read Kenyensian economics and learn from the follies of early stage FDR! None one talks about population control in India, most talk about economic growth. No matter how much India tries, it cannot catch up with the West on per capital income or per capital GDP basis for the decades or even for centuries to come unless population growth is controlled. I agree with your optimism, but progress for India toward a decent society and dynamic market for ALL (ALL matters) is many many decades away or more than a century away! Further, Indian mind in most areas of India is largely ancient, medieval, feudalistic People generally lack creativity and freedom and democratic spirit. It is people’s problem and a burdened legacy. To change this, it will take decades and generations, if at all! I hope, my words here make some sense. -Lok

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