About Value Systems and Economic Power

Extract from Thomas Friedman's Op-Ed in New York Times: We're No. 1(1)!
Who will tell the people? China and India have been catching up to America not only via cheap labor and currencies. They are catching us because they now have free markets like we do, education like we do, access to capital and technology like we do, but, most importantly, values like our Greatest Generation had. That is, a willingness to postpone gratification, invest for the future, work harder than the next guy and hold their kids to the highest expectations.

 

In a flat world where everyone has access to everything, values matter more than ever. Right now the Hindus and Confucians have more Protestant ethics than we do, and as long as that is the case we’ll be No. 11!

 

I liked this article that seeks to distinguish the USA of the early 20th century and now, and how India and China, demonstrating the same great values that the earlier USA had, are emerging as major threats to US economic dominance. Thomas Friedman has always been brutally honest with his opinions. Some may disagree with his conclusions (or the approach with which he arrives at them), but there is no denying that Mr. Friedman has admirably managed to simplify and put in context complex macro-economic shifts that we are all part of.

 

The India that he briefly describes in the above op-ed is the India that I have generally known; the India in which most of us grew up in; the India that thankfully still exists in many small towns and villages.

A common scene in most towns of India - amidst the chaos, institutes of English and Computer education stand out. 

My fear is that India is changing fast. Instant wealth / success and gratification are now more sought after than the rigour of education and hard-work. What was earlier perhaps limited to the glitz capital, Mumbai is now spreading wide across the country, thanks to televised shows and new media.

Will a Times of India op-ed in 2050 lament the loss of Indian values? Maybe these are the cycles of life, the ups and downs in the fortunes of various nations. Or can a nation's leaders and thinkers steer a different course? Governance in India, in the current times, does not give such confidence. We have many strategists; we are missing the leaders. 

4 responses
Srinivasa:

I believe in the 3 generation national growth theory. The first generation builds it, the second generation grows it and the third generation destroys it.

In the US the first generation was from 1940 to 1970 (WW2 generation). The second generation was probably from 1970 to 2000 (Boomer generation working years). Now is the US third generation -- the Gen X -- which may destroy the values/ethics and the prosperity of previous generations.

For India, the real first generation of growth started in 1990 (economic liberators).The generations will change faster in India as growth has been very rapid, and not coupled with strict discipline (anti-corruption laws, rapid justice delivery, 'chalta hai' culture, etc). Thus 'get-rich quick' culture will affect us much quicker than it affected the US. I tend to think of Indian generations as 10-15 years each.

Unless our working generation realizes this and turns the elephant around, India will face the same American values/ethics problems in the next 15-20 years.

Can't agree more - Just finished reading a book on American history "Dreaming up America" by Russell Banks. Can relate to your post as well as the comment by Raj.

Would recommend you to read this book - it is a short one but very valuable facts.

Great intellectual thought ! Nice to be told we "learnt" values lately
This is a fantastic write-up. Thank you so much for taking the time to describe this all out for folks. It truly is a great help!
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