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Re: (off-topic): From Forbes 12th Oct.

Administrative Note:

Week's Agenda: 

 Regarding the Forbes article below:  
     1.  If the US is so wonderful, why is the author living in Canada?
     2.  The US capitalist propoganda machines continue to propogandise
     world about how wonderful their system is.  It is wonderful, but
     for the rich.  70% of the US population has NO net wealth.  1% of
     population owns 40% of net wealth in the US.  Not very different
     the situation in India.  
     Europe is far better as a model at which to aim, in which there is
     minimum provision for everyone (Europe is largely a middle-class 
     society, with wealth relatively evenly distributed).  The result is 
     hardly any crime, hardly any poverty, hardly any excessive richness
     the sort one finds in the US.
     However, the author's criticism of the lack of venture capital in 
     Europe IS  valid, and is receiving attention here (though in the
     slow and over-considered/perfectionist manner).  
     His criticism that the old nobilities are still "in place" is also 
     correct, with the fundamental caveat that they have been joined by 
     many of the old peasant and working classes.  So that the gap
     the poorest and the richest is not so large, which makes it largely 
     meaningless whether or not the old nobility still has money (they 
     don't have as much as they used to, proportionally speaking; and
     rest have much, much more).
     3.  However, what makes the US wonderful is its openness to 
     CONCLUSION: What we need in India is not a blind aping of the US 
     model, but an attempt to build the best of our own traditions (yes,
     do have at least some things which are worth attempting to preserve 
     and nurture), the best of the US as well as the best of Europe.
     I have gone on about this at such length, because I have not found 
     many contributions from Europe to our discussions, and because the 
     challenge for Europe in the late middle ages is much like the 
     challenge we face in India (and totally unlike the challenges the
     has faced at any time).
     By the way, one needs to draw a distinction between the so-called 
     "usury laws" which existed in the US, which were a distortion of
     principles of usury (much as the sort of Marxism which existed in 
     Russia and still exists in places such as China, Korea, Cuba etc.)
     a distortion of Marxism.  For a discussion of this point, see the 
     second last para in the outline of my lecture at the Royal Society
     the Arts Commerce & Manufactures in London (attached).
     Professor Prabhu Guptara
     Director, Organisational and Executive Development
     Wolfsberg Executive Development Centre
     (a subsidiary of UBS AG)
     CH-8272 Ermatingen
     Tel: + 41.71.663.5605
     Fax: +41.71.663.5590
     e-mail: prabhu.guptara@ubs.com

______________________________ Reply Separator
Subject: (off-topic): From Forbes 12th Oct.
Author:  sabhlok (sabhlok@almaak.usc.edu) at nyuxuu
Date:    01.10.98 08:41

Suresh Rajagopalan has sent in this very relevant article written by 
Prof.Reuven Brenner at McGill University's School of Management

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