Re:India has a hole where its middle class should be
by simula67 on Saturday January 13, 2018 @09:08AM
(#16139655)
"I don't know what the truth is, but let me idly speculate in favor of my political team"
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Re:India has a hole where its middle class should be
by dmix on Saturday January 13, 2018 @11:32AM
(#16140116)
That's a very succinct way of putting it, thanks.
Almost every economics discussion at these very high levels suffer from sweeping all-encompassing generalizations (about an entire country) that happen to fit perfectly neatly into their political worldview.
Especially for India, which is notorious for having a government economic regulations that fluctuate wildly depending on what province/city you're in. Where you can drive a truck across the country and require 5 different licences/paperwork just to appease each local arrangement. Not a good country to generalize.
A great overview of the complexity of the economy of India: https://www.youtube.com/watch?v=hVwIZzGHxwc