The bureaucrat who questioned eloquently on how capitalists in USA benefitted immensely from Capitalism does not seem to bother much about how crony capitalists benefitted more in India in the last several decades. US capitalism runs on innovation and Indian capitalism runs on cronyism. This is what needs to be addressed
Exactly.See how forests in Hasdev Chattisgarh were cut recently to benefit corporates, similar thing happened in Bauxar MP and Goa Mollem.There is no fuss in mainstream media about this because same lobby of people also own media channels.
Worth watching. I have read your book Break out nations and now watched this presentation two times. First, it is better Shereen Bhan talk less ( It is her greatest weakness) when an economic expert who has written a book is presenting his views on the World economy. Second, Ruchir sharma has given good insights about Economy of US and Indian economy. However I strongly believe that he is little bit negative about our Prime minister Modi two terms positive contribution in building the nation. I remember when Ruchir Sharma visited our country during 2019 elections and he had negative news about Modi government. In spite of it PM Modi came to power. As for as Zambie companies are concerned, it is better he visit Karnataka state and make an in depth assement of Five Guarantees implemented by our great Rahul Gandhi government. My only request to you is not to become another Raghuram Ranjan. If are really honest and impartial in your views you can become one of the best economist representing India in US.
If you had read his book and watched this interview, one of the key points that he mentions is oligopoly and regulatory capture by few big firms closer to the government. Is it an irony that India has an oligopoly with the two A‘s being closer to Modi? Remember countries like US and west are driven by oligoplies driven by innovation whereas India is under cronyism ! Two times coming to power doesnt signify that the health of economy is sound but the capture of democratic institutions by a fascist regime capturing the electoral mandate! There are umpteen examples of this !
@@rhutwijtulankar1326 . It's interesting how tribes of your kind (andh bhakt) suddenly pop from somewhere when comments are made about fascism !Why do you try to cover up a major political-economic malaise with a justification by mudslinging some opposition party leader? I am no congress supporter but cannot understand how a nation known for its plurality and secularism can be under the control of a religious/caste based fabric? Now coming to your points, Adani controls 24% of the ports and 14% of airports in India. If that is not a definition of power, then what is? Ambani has 10% of GDP, if that's not a defintition of power, then what is? Yes, i may be a fool not to understand some random opposition party leaders being close to these crony capitalists, however I am not a fool to understand that military, commerce, infrastructure all falls under the union list and not state list !
@@rhutwijtulankar1326. Also remember when talking about a mango tree, don't try to cover up the mango tree by talking about some other random tree! Also pawar does not hold power today ! Your comment on state,people and military is interesting since in todays times all come under a common umbrella, the modi umbrella ! A government by the people, for the corporates , of the fascists !
@@rhutwijtulankar1326. Again you are going to Rahul gandhi! Who is talking about him? He is not the primeminister! What crap! Modi is good for which India? The rich 5%? The majority Hindus ? We have come here under a common conversation by Ruchir sharma , whose major point is about crony capitalism and institutional takeover by these capitalists ! America has oligopoly driven by innovation whereas India is driven by pure cronyism both are different ! Cronyism never adds any value to the nation but few individuals whereas google, amazon adds value in terms of democratization of data access and product access! Even the youtube platform we are using is by a monopoly named google but we are all benefited from. Adani and ambani no way benefits the common man! That's the point being made here ! Hope you get the core idea of what's being discussed here!
Almost till 1991 our economy was closed, even the reforms which we took in 1991 were half hearted, some if took agriculture reform or land reforms then because of protest it was taken back. And most important we never meritocracy in India.
Shereen, yes we know that you have read the book and made your notes, but it would have been great if you could have let Ruchir speak without promoting/interrupting/completing his sentences.... Very poorly conducted interview...
Extreme capitalism & government kneeling down in front of limited businesses houses is really very dangerous. And may trigger reversal era like nationalising big businesses houses.
The percent of GDP spend in the USA, is a special case, and should not be compared with Taiwan or Switzerland. The U.S. has the largest defense budget in the world by a wide margin, and ends up defending Taiwan, NATO countries among others. Whether this is right or not is debatable, but until other countries spend as much on defense, you are comparing apples and oranges
Although I agree with many things Sharma says, his examples of Switzerland, Taiwan, and Vietnam are not entirely correct.. These are pretty tiny countries with totally different Socio-Historical contexts. .. Bharat on the other hand is UNIQUE in the entire Universe. I have traveled in the West pretty extensively. But I haven't seen as ancient, as diverse, as large, as popular country as Bharat. So, I think the solutions for Bharat will have to be totally unique and must be seen from the perspective of Bharatiya unique context.
Sorry, but your comment is the same kind of nonsense Indira Gandhi used to peddle. India is India. Maybe India should stop using western science, engineering, medicine, urban planning or all of the other disciplines because Indians are too unique. You enjoy freedom for yourself but what of the other 90+% of Bharat. When the Japanese encountered the west in the 1800s did they say we are too Japanese we must reject their knowledge. All Indians should have economic freedom.
Chinese productivity is rising. With technology the demographic dividend in India has become a demographic disaster. China has restructured without bailing out the property sector. Your argument does not make sense in 2024.
I stopped watching when he said at 22.35 that investigative agencies may do that for political purposes..Tells much about the mindset of the celebrated analyst.
This lady is highly annoying with her constant " Yea, yes,Mmm" etc; she does this always. Should learn a lesson or two from Nikunj Dalmia how to conduct proper interview
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Amazing Ruchir lots to learn from you always
The bureaucrat who questioned eloquently on how capitalists in USA benefitted immensely from Capitalism does not seem to bother much about how crony capitalists benefitted more in India in the last several decades. US capitalism runs on innovation and Indian capitalism runs on cronyism. This is what needs to be addressed
Exactly.See how forests in Hasdev Chattisgarh were cut recently to benefit corporates, similar thing happened in Bauxar MP and Goa Mollem.There is no fuss in mainstream media about this because same lobby of people also own media channels.
Worth watching. I have read your book Break out nations and now watched this presentation two times. First, it is better Shereen Bhan talk less ( It is her greatest weakness) when an economic expert who has written a book is presenting his views on the World economy. Second, Ruchir sharma has given good insights about Economy of US and Indian economy. However I strongly believe that he is little bit negative about our Prime minister Modi two terms positive contribution in building the nation. I remember when Ruchir Sharma visited our country during 2019 elections and he had negative news about Modi government. In spite of it PM Modi came to power. As for as Zambie companies are concerned, it is better he visit Karnataka state and make an in depth assement of Five Guarantees implemented by our great Rahul Gandhi government. My only request to you is not to become another Raghuram Ranjan. If are really honest and impartial in your views you can become one of the best economist representing India in US.
If you had read his book and watched this interview, one of the key points that he mentions is oligopoly and regulatory capture by few big firms closer to the government. Is it an irony that India has an oligopoly with the two A‘s being closer to Modi? Remember countries like US and west are driven by oligoplies driven by innovation whereas India is under cronyism ! Two times coming to power doesnt signify that the health of economy is sound but the capture of democratic institutions by a fascist regime capturing the electoral mandate! There are umpteen examples of this !
@@rhutwijtulankar1326 . It's interesting how tribes of your kind (andh bhakt) suddenly pop from somewhere when comments are made about fascism !Why do you try to cover up a major political-economic malaise with a justification by mudslinging some opposition party leader? I am no congress supporter but cannot understand how a nation known for its plurality and secularism can be under the control of a religious/caste based fabric? Now coming to your points, Adani controls 24% of the ports and 14% of airports in India. If that is not a definition of power, then what is? Ambani has 10% of GDP, if that's not a defintition of power, then what is? Yes, i may be a fool not to understand some random opposition party leaders being close to these crony capitalists, however I am not a fool to understand that military, commerce, infrastructure all falls under the union list and not state list !
@@rhutwijtulankar1326. Also remember when talking about a mango tree, don't try to cover up the mango tree by talking about some other random tree! Also pawar does not hold power today ! Your comment on state,people and military is interesting since in todays times all come under a common umbrella, the modi umbrella ! A government by the people, for the corporates , of the fascists !
@@rhutwijtulankar1326. Again you are going to Rahul gandhi! Who is talking about him? He is not the primeminister! What crap! Modi is good for which India? The rich 5%? The majority Hindus ? We have come here under a common conversation by Ruchir sharma , whose major point is about crony capitalism and institutional takeover by these capitalists ! America has oligopoly driven by innovation whereas India is driven by pure cronyism both are different ! Cronyism never adds any value to the nation but few individuals whereas google, amazon adds value in terms of democratization of data access and product access! Even the youtube platform we are using is by a monopoly named google but we are all benefited from. Adani and ambani no way benefits the common man! That's the point being made here ! Hope you get the core idea of what's being discussed here!
Almost till 1991 our economy was closed, even the reforms which we took in 1991 were half hearted, some if took agriculture reform or land reforms then because of protest it was taken back. And most important we never meritocracy in India.
Shereen, yes we know that you have read the book and made your notes, but it would have been great if you could have let Ruchir speak without promoting/interrupting/completing his sentences....
Very poorly conducted interview...
Extreme capitalism & government kneeling down in front of limited businesses houses is really very dangerous. And may trigger reversal era like nationalising big businesses houses.
The percent of GDP spend in the USA, is a special case, and should not be compared with Taiwan or Switzerland. The U.S. has the largest defense budget in the world by a wide margin, and ends up defending Taiwan, NATO countries among others. Whether this is right or not is debatable, but until other countries spend as much on defense, you are comparing apples and oranges
Although I agree with many things Sharma says, his examples of Switzerland, Taiwan, and Vietnam are not entirely correct.. These are pretty tiny countries with totally different Socio-Historical contexts. .. Bharat on the other hand is UNIQUE in the entire Universe. I have traveled in the West pretty extensively. But I haven't seen as ancient, as diverse, as large, as popular country as Bharat. So, I think the solutions for Bharat will have to be totally unique and must be seen from the perspective of Bharatiya unique context.
Sorry, but your comment is the same kind of nonsense Indira Gandhi used to peddle. India is India. Maybe India should stop using western science, engineering, medicine, urban planning or all of the other disciplines because Indians are too unique. You enjoy freedom for yourself but what of the other 90+% of Bharat. When the Japanese encountered the west in the 1800s did they say we are too Japanese we must reject their knowledge. All Indians should have economic freedom.
Chinese productivity is rising. With technology the demographic dividend in India has become a demographic disaster. China has restructured without bailing out the property sector. Your argument does not make sense in 2024.
Want to know what went wrong with capitalism? buy my book and I will tell you
I stopped watching when he said at 22.35 that investigative agencies may do that for political purposes..Tells much about the mindset of the celebrated analyst.
This lady is highly annoying with her constant " Yea, yes,Mmm" etc; she does this always. Should learn a lesson or two from Nikunj Dalmia how to conduct proper interview