July 08, 2010

Much Ado About Nothing?

See this NYT article:

http://www.nytimes.com/2010/07/07/business/economy/07generation.html?_r=1&src=me&ref=homepage

We see youngsters out of college who are having trouble finding jobs!
I am sure that won't be 'news' to millions of college graduates in India.
Well, I guess one could say to these young hopefuls: 'Welcome to the New World!'
I am sure to a certain extent, part of the reason for their remaining unemployed is of course the reason that some of the jobs have been outsourced to China and India.
And it's instructive to see their salary expectations as well.
People below the age of 30 with a degree in Pol. Sc. earning $75,000 per annum!
And unemployed people of 24 rejecting job offers that pay 'only' $40,000 per annum!
Shows really how far ahead of the curve of economic advancement such countries really are ... which is a sad realization in some way.
You talk to young hotshot IT professionals here in India and tell them 'ironically' that well, India is only 50 years behind America.
And they come back at you with ... 'No, India is only 10 years behind.'
That's such an ignorant point of view.
One only has to leave the big cities of India such as Mumbai, New Delhi, Gurgaon, Noida, Pune, Bangalore, etc. and move to the heartland, the interior of India to see how much poverty there still exists.
Indeed, one does not even have to do that. One only needs to keep one's eyes open and then one will see degrading poverty right here ... in the heart of what is supposedly 'posh' India.
I see poor kids from slums walking on paved roads with nothing on their feet ... at 1 p.m. on a hot summer Indian day. And I see that right in front of my office in 'posh' Gurgaon.
India is may be not 50 years behind ... but 75 years behind ... I don't know.
Perhaps, it's pointless to debate how far 'behind' India is.
What we need to work at is how long is it going to take to bring the people out of abject poverty.

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