March 16, 2007 ☼ Economy ☼ Public Policy
This is an archived blog post from The Acorn.
A certain Rohit Pradhan makes his debut as a columnist for UPI Asia Online, arguing that foreign direct investment in retail (‘allowing Wal-Mart to open stores in India’, in non-wonkese) won’t hurt lower income groups “provided proper policy prescriptions are in place”.
the whole issue of job losses must be put into proper perspective. India is poor because a large majority of her population is engaged in low-paying professions. Therefore, while we worry about the vegetable seller and the poor farmer, it would be prudent to remember that their income is barely enough to cover their minimum needs and that would always be so — an ordinary vegetable seller will never be able to afford even a decent standard of living. Should jobs that guarantee perpetual poverty be such a holy cow? [UPI Asia Online]
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