Quote of the day

That’s a quote from Alan Greenspan’s “Age of Turbulence” that I simply must share. He quotes Martin Feldstein, Harvard economist, in saying:

“Cellphone service is widely available [in India] at low cost because it was regarded as a luxury and therefore left to market, while electricity is hard to obtain because it has been regarded as a necessity and therefore managed by the government”.

Greenspan also mentions that India’s decrepit infrastructure cannot provide reliable electric power, and many business establishments have installed their own small generators to ensure power.