P
pthakur
Guest
The Poor as Stakeholders: Can 'Inclusive Capitalism' Thrive in India?
Communism fell from grace with the collapse of the Soviet Union. Now,
capitalism is under siege with the collapse of Wall Street. Is
inclusive capitalism the new way? "Capitalism at its core is basically
agnostic," says Abraham of ISB. "It does not try to be inclusive or
exclusive. Capitalism is about optimal allocation of resources. The
more it is allowed to thrive, the higher the number of people who will
be impacted positively by [its] growth. So, in that sense, being
inclusive is perhaps a natural process. But for this to happen, what
is really needed is more liberalization and fundamental reforms. For
instance, until 1995 the fruits of telecom were not available to 95%
of the country. Because of the reforms in this sector, [they are] now
available to 50% of the country.... In this sector, capitalism has
become a force for good. We could have the same thing happen over and
over again in different sectors."
Read full text: http://infoclickindia.com/fnews.php?id=331&path_news=Knowledge@Wharton%20-better.bmp
Communism fell from grace with the collapse of the Soviet Union. Now,
capitalism is under siege with the collapse of Wall Street. Is
inclusive capitalism the new way? "Capitalism at its core is basically
agnostic," says Abraham of ISB. "It does not try to be inclusive or
exclusive. Capitalism is about optimal allocation of resources. The
more it is allowed to thrive, the higher the number of people who will
be impacted positively by [its] growth. So, in that sense, being
inclusive is perhaps a natural process. But for this to happen, what
is really needed is more liberalization and fundamental reforms. For
instance, until 1995 the fruits of telecom were not available to 95%
of the country. Because of the reforms in this sector, [they are] now
available to 50% of the country.... In this sector, capitalism has
become a force for good. We could have the same thing happen over and
over again in different sectors."
Read full text: http://infoclickindia.com/fnews.php?id=331&path_news=Knowledge@Wharton%20-better.bmp