The Seen and the Unseen - hosted by Amit Varma cover image

Ep 237: The Importance of the 1991 Reforms

The Seen and the Unseen - hosted by Amit Varma

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What Is the Biggest Fear in India?

There is an enormous fear in india in the 19 fifties or failure, that comes from the private sector. You simply don't trust what is happening in the markets when markets do function. The second kind of fear is a misallocation. Resources are so scarce that if they went in the hands of the wrong industrialist, then we're wasting these resources,. They don't understand that when there's a bankruptcy, resources just need to switch ownership. There is this great fear. And the third fear is, in some sense, the collapse of the system, or loss in the faith of the system.

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