Word: indianism
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When I get to my apartment, I find Suman, the maid who does the cleaning in my building, waiting outside the door. The price of lentils, a key component of most Indian meals, has surged in the past few months. She hasn't been able to increase her rates yet, so she has had to take an additional cleaning job to make sure there is enough food at home. She will have to leave my apartment sooner every day; she hopes I will not dismiss her for this...
Over the past decade, economists have been divided about the great Indian boom. For one party, the Indian economy's amazing growth rates indicate that the country is a nascent superpower - an America in the making. As evidence, they can point to the growing clout of Indian firms like Bennett, Coleman & Co., a privately-owned Mumbai media conglomerate that recently bought Britain's Virgin Radio. For the other group of economists, the boom has been an illusion: the majority of Indians have been excluded from the growth, poverty rates have stayed stagnant, and India is still just a Sudan with...
...Indian economy is slowing this year, but even if it grows at only 7% or 8%, it will be doing far better than the U.S. and most of Europe. The Indian multinationals that have grown out of the 10-year boom look as strong as ever, with outsourcing giants like Infosys and Tata Consulting Services growing very robustly. Their success has created a huge middle class for which 12% inflation is more of a nuisance than a worry. The long-term future of the Indian middle class is secure. The factors that have driven its success - a sure grasp...
...future for the country is two futures: rosy and grim. Indian companies will buy more foreign businesses, and more Indian children will starve. In economic terms, India has become neither the U.S. nor Sudan, but something in between - a Latin American republic with an entrenched class chasm. Higher levels of crime and social unrest are almost certain to follow. For years or decades to come, we will not be able to talk of one destiny for all the people of the country...
...world is one of those things whose motives have been mixed and muddled. In the age of empire, imperial powers built up infrastructure to make their colonies more productive and get primary goods quickly to market: railways, ports and canals linked the Atlantic Ocean to the Pacific and the Indian Ocean to the Mediterranean. In the wreckage left by World War II, the Bretton Woods institutions and the Marshall Plan were premised on the idea that economic development was the handmaiden to peace. More recently, charitable organizations (which have been playing a role in development for centuries) responded to humanitarian...