Ma showed that an innovative private enterprise could thrive under a Communist regime once hostile, and still at times suspicious, of ambitious capitalists.
Experience has taught bankers not to worry about the downside. The government bailed them out with no personal repercussions and without fundamentally changing the system.
Ten years after the collapse of Lehman Brothers, a major section of the financial ecosystem has moved into the shadows where there is neither transparency nor regulation.
Over generations, Bihar’s bane has been its utter lack of urbanisation. But now, even Bihar is urbanising. Or let’s say, rurbanising. Two decades under Nitish Kumar have created a new elite in its cities.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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