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.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: