Tuesday , November 5 2024
Home / Mike Norman Economics / Diane Coyle — Our Gilded Age (India version)

Diane Coyle — Our Gilded Age (India version)

Summary:
Short review of FT’s former Mumbai bureau chief James Crabtree’s The Billionaire Raj. The theme of the book is corruption, and its co-evolution with the Indian economy as the ‘licence raj’ restrictions were progressively removed, and new sectors like telecoms grew dramatically. In this new world, the super-wealthy businessmen and the politicians found they needed each other: the deployment of legislation and contracts helped the former, the opportunity to take part in business helped the latter. As one of the interviewees puts it: “They [the politicians] are saying: ‘We don’t want briefcases full of cash and Swiss bank accounts and all that any more. We want to own businesses ourselves. We want equity stakes.”... The Enlightened EconomistOur Gilded Age (India version)Diane Coyle |

Topics:
Mike Norman considers the following as important: , , , ,

This could be interesting, too:

Robert Skidelsky writes Speech in the House of Lords on Watchdogs 9th of September

Angry Bear writes What if We were to Abolish the Super Rich?

Matias Vernengo writes Book Presentation “India from Latin America. Peripherisation, Statebuilding, and Demand-Led Growth” by Manuel Gonzalo

Chris Blattman writes Why are so many African and Asian nations ambivalent about Russia’s invasion? International identity politics


Short review of FT’s former Mumbai bureau chief James Crabtree’s The Billionaire Raj.
The theme of the book is corruption, and its co-evolution with the Indian economy as the ‘licence raj’ restrictions were progressively removed, and new sectors like telecoms grew dramatically. In this new world, the super-wealthy businessmen and the politicians found they needed each other: the deployment of legislation and contracts helped the former, the opportunity to take part in business helped the latter. As one of the interviewees puts it: “They [the politicians] are saying: ‘We don’t want briefcases full of cash and Swiss bank accounts and all that any more. We want to own businesses ourselves. We want equity stakes.”...
The Enlightened Economist
Our Gilded Age (India version)
Diane Coyle | freelance economist and a former advisor to the UK Treasury. She is a member of the UK Competition Commission and is acting Chairman of the BBC Trust, the governing body of the British Broadcasting Corporation
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

Leave a Reply

Your email address will not be published. Required fields are marked *