As with medication and interventions it comes with contra-effects. The potential cost of the economic shutdown brought down world markets and the precipitous slide of the markets aggravated the sense of uncertainty and fear. The flight of capital to safety, witnessed across global markets this week, sent central banks and governments scurrying to their treasury chests to preclude what was first seen as a liquidity crisis from morphing into a calamity of solvency. Every crisis also arrives with its own window for reflection. The instruments of mitigation afford a glimpse of the next economy and dare one say, even the next society.
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He lists out various examples to prove his point. According to the author, whether it was the Green Revolution in the late 60s, the White Revolution in the 70s or the opening up of the economy in early 90s, they were all born out of crisis. He comes up A fascinating narration of watershed events in the Politco-Economic History since independence. He comes up with pretty fascinating observations. While explaining the "Milky Way", milk revolution by Varghese Kurien, he states that this revolution came about "because of a man who did not drink milk".
How ironic. He also mentions that "Politicians tend to choose a solution that is electorally profitable, bureaucrats choose that which is convenient and public accepts that which is morally satisfying". But lots of facts, that too properly attributed with footnotes. The author convincingly argues out the central theme that links the chapters of the book -- that India has made progress, only because the government had no option but to make those long-overdue crucial policy decisions that brought about the changes for the betterment of the people.
The government never acted until a festering problem degenerated into a full-blown crisis and the authorities were forced to act. India would have reached much greater heights if government had listened to the right suggestions and took the right decisions at the right time. A brilliant critique is proffered in the book by the author regarding Liberalization, Green and White revolution,Nationalization of Banks,Mid-day meal scheme,RTI,Software revolution and both the bird-eye view as well as worm-eye view are presented for each turning points.
A lot of motivation to be more vigilant about potential crises. Feb 23, Priyanka Kulkarni rated it really liked it Brilliant Read!
Viral fears and view of the next economy
This field is for validation purposes and should be left unchanged. One of our consultants will get back to you soon Biography Shankkar Aiyar is a prominent India-based political economy analyst, columnist and author. As a best-seller Accidental India has received fulsome praise from academics, policy makers and business icons. Released by the President of India and received by the Prime Minister of India, Aadhaar is an unusual dramatisation of contemporary history and of the political and economic changes, has been published and is globally available in five languages. Aiyar is working on his fourth book which looks at demographic, technological and climate change on politics and public policy. As a political economy analyst, Aiyar specialises in the interface of economics and politics. He has covered every election since and the political economy since
PUBLICATIONS BY Shankkar Aiyar
In the book, Aiyar argues that changes in the country since independence have not arisen through conscious decision making or planning, but have been accidental results of crises affecting the nation. Working on this news report made Aiyar question Why did we wait for a crisis to act? The book offers adequate proof. From the economic liberalisation of , to the nationalisation of the banks,to the Green Revolution, to mid-day meal scheme and the software revolution of the s, the book covers it all in carefully crafted chapters. Aiyar makes many such insightful statements in his book.
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