Indus-ian t1_j6mj5hk wrote
Reply to comment by Nightshade238 in At 6.1%, India to be fastest-growing economy, projects IMF; China at 5.2% by Gopu_17
A rising tide lifts all boats
Nightshade238 t1_j6mjjla wrote
But only if the others are still able to float.
Indus-ian t1_j6mk7vv wrote
India experienced a socialist system for its first five decades which made people poor. With the opening up of economy, lot of people were pulled out of poverty.
But here the focus seems to be wondering why the rich got richer rather than thinking did the poor got better in the same time? The answer is yes.
SentientHotdogWater t1_j6n9nv7 wrote
>India experienced a socialist system for its first five decades which made people poor.
Yep, that's what made India poor. Definitely didn't have anything to do with centuries of British colonialism.
Indus-ian t1_j6nbqr8 wrote
Yes the colonial occupation was the biggest cause. But when India got independence it could have charted a better economic model for faster prosperity.
SentientHotdogWater t1_j6ndp0b wrote
Can you give me an example of a post-colonial nation that was able to become economically prosperous immediately after obtaining freedom using only free market capitalist economics?
Indus-ian t1_j6nf9fe wrote
I didn’t claim an immediate prosperity from a colonial rule.
I can’t really fault the economic policies from independence to around 60’s. What caused the slow growth was a bunch of economic policies that included nationalisation in the 70s. That crippled the economy and almost went bankrupt in late eighties and nineties.
vubjof t1_j6o1316 wrote
baltics
thankful-wax-5500 t1_j6pel5p wrote
It's says lift all boats. Can't help ya if you're hanging on to some driftwood lmao.
SentientHotdogWater t1_j6n9egu wrote
>A rising tide lifts all boats
It also drowns the people who can't afford boats...
Indus-ian t1_j6nbyzc wrote
It is strange that every economic metric shows open economy improved the quality of life for the poor and lifted them from poverty but somehow economic growth is the problem here
SentientHotdogWater t1_j6ne99a wrote
Embracing free market trickle down economics actually lowered the quality of life for the poor in my county.
Indus-ian t1_j6nfkp9 wrote
Can’t compare countries with different levels of growth and in different phases.
Socialism is a rich country’s economic model. One has to reach sufficient levels of prosperity and wealth to start dabbling in that
SentientHotdogWater t1_j6nm0qe wrote
This would seem to conflict with your earlier assertion that a rising tide lifts all boats?
Indus-ian t1_j6nx9b3 wrote
That’s a very specific instance of tax cuts which may or may not be applicable elsewhere.
hansobolo t1_j6mn9vj wrote
Yes but why is this the same as a rising tide?
Indus-ian t1_j6mngkz wrote
Because OP asked who does this growth benefit, listing out a few things. Like how a rising tide lift all kinds of boats this high growth should help all sections of the country
hansobolo t1_j6mnmgn wrote
How does he know it will?
Comparing it to a tide doesn't make sense. It's like saying "this government policy is like someone who helps kittens, you know good"
Basically it's like a trick because you don't know if it will raise everyone up
Indus-ian t1_j6mnw75 wrote
There are charts which plot how many people were pulled out of poverty, it has consistently been on the increase over the years. Way more than when india was wallowing in socialist policies.
https://en.m.wikipedia.org/wiki/Poverty_in_India
> India has achieved annual growth exceeding 7 percent over the last 15 years and continues to pull millions of people out of poverty, according to the World Bank. The country has halved its poverty rate over the past three decades and has seen strong improvements in most human development outcomes, a report by the international financial institution has found. Growth is expected to continue and the elimination of extreme poverty in the next decade is within reach, said the bank, which warned that the country's development trajectory faces considerable challenges.[1
hansobolo t1_j6mo0op wrote
How do you know these charts are correct?
Indus-ian t1_j6moc9d wrote
Okay I think at this point you’re trolling.
Sorry that you find Indian poverty reduction so troubling. Scratch that, not sorry at all. Happy to see you upset
Spiritual-Fan5642 t1_j6nqfpx wrote
How do you know / how can you prove that they are wrong?
hansobolo t1_j6nz7hl wrote
Spiritual-Fan5642 t1_j6o5hjr wrote
You are a burden on your OWN self.
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