4.8 • 670 Ratings
🗓️ 22 March 2023
⏱️ 65 minutes
🧾️ Download transcript
This is an episode for those who want to hear an alternative view of the world's largest country. McKinsey has said we are living in the “Indian Century”. Morgan Stanley believes 20 percent of global growth in the next decade will come from India. Our guest today, Princeton economist Ashoka Mody, has a different view, which he details in his new book: “India Is Broken”. He argues that there are two Indias, a successful, highly skilled and educated elite and a billion-plus population that remains very poor. Mody believes that this dangerous equilibrium is maintained by a close link between the government, big business and, in some cases, organized crime. This association produces projects that attract capital and headlines but leaves an employment deficit of over 100 million jobs.
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Episode TimeStamps:
04:14 - Introduction to Ashoka Mody
10:19 - The development path of East Asia
14:41 - The path that India did not take
19:32 - The path they did take
23:37 - Different versions of India
30:37 - What is Hindutva?...
Click on a timestamp to play from that location
0:00.0 | Today, 25% of the legislators are in the Indian National Parliament are people accused of serious crimes like rape, murder, extortion, kidnapping, and so on. One quarter of the legislators |
0:24.4 | are out of that category. In some state governments, like in Bihar, it's 50% of the legislators. |
0:30.4 | So the nexus between crime and politics has grown. And the reason I'm pessimistic is that this is a bad equilibrium. |
0:43.3 | In other words, this is in no one's interest to change this. The efforts to reduce corruption, |
0:50.3 | to reduce the criminality in politics have been going on for the last 30, 40 years. |
0:57.5 | But no one is willing to do it. |
0:59.7 | Why would I do it if I think that you will not do it? |
1:04.0 | And so the bad equilibrium continues. |
1:08.9 | Imagine spending an hour with the world's greatest traders. |
1:12.7 | Imagine learning from their experiences, their successes, and their failures. |
1:17.1 | Imagine no more. |
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1:25.1 | so you can take your manager, due diligence, or investment career |
1:28.3 | to the next level. Before we begin today's conversation, remember to keep two things in mind. |
1:33.8 | All the discussion we'll have about investment performance is about the past, and past performance |
1:38.4 | does not guarantee or even infer anything about future performance. Also understand that there's a |
1:43.7 | significant risk of financial |
1:45.1 | loss with all investment strategies, and you need to request and understand the specific risks |
1:50.2 | from the investment manager about their product before you make investment decisions. |
1:54.8 | Here's your host, veteran hedge fund manager, Nealz Kostrup Larson. |
2:09.7 | For me, the best part of my podcasting journey has been the opportunity to speak to a huge range of extraordinary people from all around the world. |
2:12.9 | In this series, I have invited one of them, namely Kevin Koldine to host a series of in-depth |
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