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Where is India headed today? It has recently overtaken the UK to become the fifth-largest economy, yet it struggles to create jobs for the millions entering the labor force. The country stands at a crossroads, with a growth rate that, while respectable among large nations, remains insufficient for the youth's employment needs. Challenges such as fierce competition in low-skilled manufacturing, rising global protectionism, and increasing automation complicate matters further. Divisive majoritarianism exacerbates the situation. India has deviated from the conventional development trajectory—moving from agriculture to low-skilled manufacturing, then high-skilled manufacturing, and finally to services—by skipping key stages. Instead of attempting to revert to outdated paths, India must forge a unique route. The authors argue for accelerating economic development through investments in human capital, expanding high-skilled services and innovative manufacturing, and fostering a culture of creativity. They advocate for governance reforms to strengthen democratic institutions and enhance decentralization. While acknowledging the successes of the Indian establishment, the authors candidly address its shortcomings and urge the nation to embrace future possibilities. This insightful work, rich with examples and compelling arguments, is essential for anyone invested in India's future.
Acquisto del libro
Breaking the Mold, Raghuram Govind Rajan
- Lingua
- Pubblicato
- 2024
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- (Copertina rigida)
Metodi di pagamento
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- Titolo
- Breaking the Mold
- Lingua
- Inglese
- Autori
- Raghuram Govind Rajan
- Editore
- Princeton University Press
- Pubblicato
- 2024
- Formato
- Copertina rigida
- Pagine
- 336
- ISBN10
- 0691263639
- ISBN13
- 9780691263632
- Serie
- Valutazione
- 3,75 su 5
- Descrizione
- Where is India headed today? It has recently overtaken the UK to become the fifth-largest economy, yet it struggles to create jobs for the millions entering the labor force. The country stands at a crossroads, with a growth rate that, while respectable among large nations, remains insufficient for the youth's employment needs. Challenges such as fierce competition in low-skilled manufacturing, rising global protectionism, and increasing automation complicate matters further. Divisive majoritarianism exacerbates the situation. India has deviated from the conventional development trajectory—moving from agriculture to low-skilled manufacturing, then high-skilled manufacturing, and finally to services—by skipping key stages. Instead of attempting to revert to outdated paths, India must forge a unique route. The authors argue for accelerating economic development through investments in human capital, expanding high-skilled services and innovative manufacturing, and fostering a culture of creativity. They advocate for governance reforms to strengthen democratic institutions and enhance decentralization. While acknowledging the successes of the Indian establishment, the authors candidly address its shortcomings and urge the nation to embrace future possibilities. This insightful work, rich with examples and compelling arguments, is essential for anyone invested in India's future.