And the reason for this is in my view that society has become more liberalized, which is a good thing. But liberalization creates different outcomes in different fields. So if you deregulate or liberate the labor market, you are creating more inequality.
Interestingly to me there's also an effort I think, really very much encouraged by the host country here to bring in some liberalization and some of the values we associate, I mean classical liberalization we associate with western universities including debate. So there's a debate series that's sort of in the tradition of the Oxford style of debates and there are posters all over these campus's saying "The next debate the resolution was resolved. This house believes that Gulf Arabs value profit over people". And you know that's
And that is what they called as Project Shakti, or Shakti Amma entrepreneurial program. Now once the liberalization was introduced in India, a lot of multinationals came into India. And Hindustan Unilever was facing the heat of competition.
jump saying well China has the internet China has this kind of economic progress It's a natural and co co consistent process of political liberalization in the largest sense this is a very very complex topic but essentially say I say I am skeptical of that that argument I think that it is likely that the realm
But it certainly has been, for the past 25 years of the course of my investment creator, a one-way tailwind, the opening up of markets leading to the transparency and liberalization of societies, leaving people free to buy things that they'd long aspired to, leading our companies to have a place to pour back their free cash flow into meeting that consumer need as a group.
A decline in religious certainty has been one of the characteristic features of modernity. has increased. Economic liberalization , privatization, deregulation, austerity-- all of these languages have intensified.
in Chengdu at the time. policies changed. There was no more political liberalization , and there hasn't been since then, whilst there was this decision to do economic reform and not
in Chengdu at the time. But I do not see any kind of signs of any political liberalization coming anytime soon.
And that gave birth to what we call now the black economy. We also saw a lot of transition, post the liberalization . In 1991, after 45 years of our existence, liberalization finally set in.
We also saw a lot of transition, post the liberalization . In 1991, after 45 years of our existence, liberalization finally set in. The structural scaffolding of a socialist economy was removed.
And I kind of want to start off with you do this really great job of setting up the broader evolution of the Indian political economy, from the British Raj before 1947, the License Raj between '47 and liberalization in '91, and leading to the current moment, which is the rise of the billionaire Raj.
Wow. Involved with the book as well? And not did he manage to push the globalization ideas forward, but the labor liberalization , which has stymied French leaders for 20 years, 15 years.
saw more of the world, and this new generation came up. A guy at Tata Consultancy Services which is one of Indian's big three IT firms called it "Generation WHY." So not Generation XY but Generation W-H-Y, the first generation post-liberalization who are willing to question and not just do rote learning or not just cram for exams but think outside the box a bit. And at the IIT in Delhi, I wanted to find evidence of that and luckily, fortunately I did. It's beneath the surface and it's only just beginning to happen now which makes sense
bit. And at the IIT in Delhi, I wanted to find evidence of that and luckily, fortunately I did. It's beneath the surface and it's only just beginning to happen now which makes sense if you think about it because the 22 year olds of now are the ones who have grown up in this post-liberalization age, post-1991. So the student in the slide right now took part in a contest called the Rubicon which
in Chengdu at the time. So it's difficult to tell how far that's going to happen, and whether this is actually a move towards liberalization , and why this is happening.
kinds of Texas paraphernalia, you'll see the fast food courts, and it's really a meeting of cultures. Interestingly to me there's also an effort I think, really very much encouraged by the host country here to bring in some liberalization and some of the values we associate, I mean classical liberalization we associate with western universities including debate. So there's a debate series that's sort of in the tradition of the Oxford style of debates