In a Guardian Comment, George Monbiot says that the jobs that are moving from the United Kingdom to India - are essentially a return of the jobs stolen by the British over 200 years ago. He talks about how the ghosts of colonies past are back to haunt the British economy today. And how all this is karma (retribution - as u sow, so u reap - if not in this life then the next). ( i wonder if the Trade Unions are Scrooge - and one day the ghost of colony past will lead them to enlightenment:)

But..

Historically:

The Indian economy - which was self sustaining, self reliant and self sufficient - was ruined by colonization. Raped would be a more accurate term. This paved way not just for an “industrial” class in the UK, but also an emergent middle class.
The “industrial” class made the profits, the middle class a decent stardard of living. It was the industrial class of that time that led the world economy forward. However, both worked together to create wealth for the nation (ably assisted by colonies across the world).

Today:
Today India has the emergent middle class - but not a mushrooming equivalent of the “industrial class”.

Wealth is not being created here (or is being created here in a very minor fashion), nor is control manifested here. Nor do we control the rules of the game. The people who do that are the same that did so 300 years ago. We were dockyard/plantation coolies then, we are backoffice/cyber coolies now.

Control of Land, Labour and Capital- said Adam Smith - determines how the profits are shared (and i am paraphrasing). We only control Labour - and that too till a cheaper English speaking alternative is found.

While we may see the moving of jobs from the UK to India as poetic justice and it may make one “feel good” - there also has to be a certain level of stock taking. If an Abbey National - A British company - can get rid of British jobs because India is cheaper, how long before they dump India for Ghana or China - which is cheaper still.

And will it still be Karma?:)

Tags: Economics

The Hindu rate of growth has been a term applied to the Indian economy since Independence till the early 1990’s. A slow but steady economic growth. Hindu rate of growth simply becaus economic planners predicted that it will happen in the next cycle.

Now comes the Guardian with an article that claims that not only is economic growth Hindu, Economic History is Karmic - with the Brits of today reaping what the East India Company (and then the Raj) sowed over a 300 year period in India.

The article says that the Brits wiped out employement in India - by dumping cheap factory made mass produced stuff, and taxing local produce. Today India - with its large pool of English speakers is doing much the same to the Brits - cheap mass produced “stuff”

except that the mass produced stuff this time around is people. People who may live in Gurgaon and speak like a Geordie. Make conversation about Eastenders, and Top of the Pops (does that still run?). 22 year old who try to talk with a Brit accent, and know more about football league matches, than about what’s up in their own neighbourhoods. People are churned out of “finishing schools” that prepare them for the accent, the monitoring, the polite conversation, and the inane platitutes.

A friend of mine who heads HR at one of the largest call centres in India - talks about recruiting 24*7 - the drop out rate from the industry is huge. It is the cyber equivalent of tossing burgers at a fast food place - deskilled, and depersonalised.

Tags: Economics