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Archive for July, 2010

Importance of job creation

July 2, 2010 Leave a comment

Well here comes the refutation that outsourcing (any kinds of) jobs could be detrimental to a country. Popular wisdom has it that it is good for the US to outsource lowly jobs to Asian countries and keep only high-end jobs for themselves. But Andy Grove (ex-CEO, Intel) thinks otherwise – in his article – How to Make an American Job Before It’s Too Late he makes some very important points including that as US is outsourcing more and more jobs, they are also losing their hold on emerging technologies.

Based on this article, this sure looks to me that jobs in manufacturing are better than jobs in services industry (not for the employee as such, but for the country). Mainly because, when you setup a plant, and that gives you leverage in future on the emerging technologies. And where does that leave India? Sure we have jobs today, because we can find countries and companies who are ready to outsource, but what if, in future, the tendency to outsource reduces drastically? Also, it hasn’t given India any edge in producing new software products unlike it has given an edge to other manufacturing countries, notably China.

And using services from other countries can be reduced, but it is harder to restart manufacturing – so China is the big boss. And Indian companies must learn to create jobs in something else than the venerable services sector.

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Categories: Business, General

How to get rich

July 2, 2010 Leave a comment

After all the economic crash, the world over, and especially in the USA, there is one class of people who laughed their way to the banks and made hefty profits – no marks for guessing, they were the Finance professionals (brokers of various banks and other financial institutions which were on the verge of tanking, but were rescued by none other than Uncle Sam).

These days I am reading a fascinating book called The Looting of America in which Les Leopold makes it amply clear how these same finance guys opened and operated their finance casinos at the cost of taxpayers (and how the US government and the policy makers let this happen under the name of free markets). Here’s one more evidence of how Goldman Sachs made big money by robbing the world’s poor.

So that’s it guys – forget science, tech, engineering, marketing – finance is the king. Do whatever you can, be too big to fail and enjoy by effing others. So sad.

Categories: Business, General

Free higher education

July 2, 2010 Leave a comment

I used to think about this for India – what if and can higher education be made free? I understand it is very very difficult to do so, at least in India, but Les Leopold, as mentioned in this article proposes to do the same in US. Definitely, education is expensive in US and his suggestions make sense to me.

Love to see this happen anywhere…Amen!!!

Categories: General