Wall Street Journal praises Ahmedabad’s informal economy
Wall Street Journal praises Ahmedabad’s informal economy
Ahmedabad, 20th of March, 2009
Well known American daily Wall Street Journal has published an article on Ahmedabad’s informal/underground economy. In simple words hawkers, Laariwalas in Ahmedabad’s Bhadra and Manek Chawk areas are players of informal/underground economy.
Wall Street Journal says “In many American or European cities where major industries died, like Buffalo, N.Y., urban centers fell into decay because there was nothing left to replace them. But Ahmedabad remains a thriving city. Most of the laid-off employees were able to find work in street vending, rickshaw driving, day-wage construction or other informal jobs.”
Quoting Martha Chen, a lecturer at Harvard’s Kennedy School of Government who has studied the city WSJ article says “Despite the long demise of its signature industry, Ahmedabad today “is vibrant, it has life,” Based on Ahmedabad’s experience, “I think we should see the informal economy as the solution” to urban decay and unemployment, she says, “not the problem.”
-For full article CLICK HERE
-For slide Show on informal economy world wide including Ahmedabad’s CLICK HERE
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It is another perspective to see the survival strategy for economical poor people from the countries like India, Thailand, and China etc. But one will have to think over the strategy of going to the underground economy. As these businesses are not regulated and there are more chances of exploitation of poorer. One can also argue that people turn to that direction because there is not another safe way to earn wages. But it is essential to have regulated market where every one get justice and equal opportunity to have better life. The developing countries are having problem of pollution, heal hazards, food and drinking water shortages, malnutrition, poor education and child development, corruption and many more… When there is a regulated body in any area, it is easier to plan for the future events. It is also easy to predict the outcome of any policies organized towards the empowerment of the future. There are less chances of corrupting the society. So small pockets of underground economy will benefit in the short run but for the long term view it is better to go towards the path of regulated business policies.
Of course, the ideal world would be where every one can earn the living so enough to survive and enjoy life.
yes milind u r right but i want to tell you that any business is run by confidence,trust and place. wall street people know that in America top boss of business is corrupt and they give money to only white people. so all big industry are closed in America because of lose os trust between government and top business. i am sure they will correct that because in America religion is not important.
on other hand, in India, mukesh ambani,tata group,anil ambani are very trustful people. but in government of f****** congress play is religion politics because they believe in division of India and also they believe that Hindu people must be rule by non-Hindu as Hindu are so naive to their religion. understand! that’s why Britain separate india with so many priest with so many religion before 200 years. but right now Indian population is so big so western country want to destroy India within next 30 years goal. got it!
please understand first that western people are rule by communist for so long period that is very bad but good part is that people of western believe in work a lot rather than religion. because of oneness in western people ,it is being rule very good. on their hand in India, if you want oneness than Islam become one (becoming terrorist) it is a disease.
forget it. believe in democracy and make trustful nature in India but first one is Gujarati because they are most lovable people ,believe in law first and then religion. Gujarat is run by very good thinking modiji and other big leaders.
I agree with both comments above.
First thing first, we need to separate this religion crap from the functioning of our government. For that we need to bring genuine secularism, by going to VOTE and vote for someone like Mahatma Modiji, who’s no-nonsense focus on development and security will continue to keep our country as one super power, simply shielded from the topsy turvy of racism, terrorism found a plenty outside of Bhaarat.
Wall stree journals, NY Times and Time Magzines use INDIA when they want “MONEY”, “IDEAS” for USA and west. THERE ARE THE SAME TUGS WHO HEADLINE “NO US-VISA FOR NARENDRA MODI” when some idiological tugs funded by fanatics from Muslim World (CONGRESS (I) too) are out there on streets of NY. GUJARAT and MR MODI IS GREAT and all the people who support him are simply “WONDERFUL”.
CM NARENDRA MODI IS well konw figure and can lead INDIA to prosperity and fame to get back the “GOLDEN DAYS OF INDIA”.