Economist Jayati Ghosh: India's Woes Foretell 'Chaos and Violence'

Excerpts from an article by Jayati Ghosh on Der Spiegel

China is fundamentally strong; it has a huge trade surplus. India, however, suffers from a huge current account deficit, which we are trying to partly fill with hot money, or speculative investment, from abroad. China first and foremost has to control its illegal shadow banks, but that is not at all comparable to the mess that we are now facing in India.

Our government reacts with panic measures. For example, it desperately attempted to attract more capital into the country by easing rules for external commercial borrowing. This, however, only worsens the structural causes of the rupee crisis. Our much vaunted economic boom was essentially a debt-driven consumption spree, financed by short term capital inflows. Those who profited were mostly construction companies and the real estate sector. India's boom was also peculiar in that it did not generate any new jobs, but instead deepened the gap between rich and poor.

I am fundamentally in favor of a bigger role for the state in order to direct investments and control banks. However in China, as in the rest of Asia, a big real estate bubble was created. Instead, China should have strengthened domestic consumption in order to free itself from the dependence on exports.

 If I look at the 21st century I see a huge imbalance. The most important economic currents flow from South to North: the trade in ever-cheaper products which the emerging markets produce; the capital investments -- because these countries invest their surpluses in US bonds; the cheap labor which they export, and with which they help solve the problems of those aging societies. But why does the North still dominate? Because it still invests a lot of money into research and development, and it controls intellectual property.

We can't manage the simplest things, because our starting point was completely different. When China began its reform process at the end of the 1970s, almost everybody there already had enough to eat. There were roads in almost every village, and there was medical care. In China, society was by and large equal. In contrast, a third of Indians still don't have electricity. We fight against the legacy of a caste system which condones inequality and discrimination. India's elites put up with conditions which are extremely damaging

SPIEGEL: Your government promises to open up the country further for big foreign corporations like Wal-Mart and Ikea. Is this really the way to create enough new jobs?
Ghosh: These measures only destroy jobs. Everybody knows that retail multinationals employ much fewer people per product and per turnover than the small shops that dominate in India. Instead, we have to invest in the basics, in infrastructure: A road to every village. Water, electricity and housing for everyone. Access to bank credit for everyone -- not just for rich entrepreneurs. We have to concentrate on things that create jobs. Then India's economy will grow on its own.

SPIEGEL: Ahead of the parliamentary election next year, nobody believes the government has the courage to reform. What happens if your country falls even further behind in the process of catching up?
Ghosh: Then we will face political and social chaos on a mass scale, and an increase in violence against women, as we are already seeing.

http://www.spiegel.de/international/world/indian-economist-jayati-ghosh-warns-of-chaos-and-violence-a-919048.html 

PC/Laptop HDMI to LCD TV

Recently had to attach an old laptop thru a HDMI port to a large LCD TV.  Had issues with bad sound and also erratic movie picture (Netflix) and sound.  Searched the Internet and there was no comprehensive location to trouble shoot the problem. So a post with what I had to do to get the Laptop HDMI output to work properly on a LCD TV.

Graphics Card
First and Foremost is to check if your Graphics card software has been installed.
 Do a Right-Mouse click on the Desktop.  A menu will come and and the top most choice should be the place to activate your Graphics card.  Something like AMD Vision Center or ATI Radeon Graphics.  If you see the software control, go to the next, i.e. Connect HDMI cable to LCD TV.




On a Laptop that had the drive formatted or system re-installed its likely the graphics card software has been erased.  

You will need to find out your graphics card details.  If you dont have your computer specs try searching for you computer model.  You might also be able to get your Graphics card details from the  Display Adapters sub menu in Device Manager (Right Mouse Click-My Computer-->Properties-->Device Manager).  Download the appropriate software from the manufacturer website and install.  Check if installed by a Right-Mouse click on the Desktop.

Connect HDMI cable to LCD TV
Connect the HDMI cable to LCD TV and note the TV HDMI input port (e.g. HDMI 1or HDMI 2).   Turn on  TV and select appropriate HDMI input.

Setting Up Graphics Card
Start the graphics card software (Do a Right-Mouse click on the Desktop). 

You will see something like Displays Manager.  Select Displays Properties.  You should see you LCD TV as a Display selection. Select your LCD TV.

•  Change the Resolution as needed (it should be automatically selected)
• Change Color Quality (it should be automatically selected).
• Refresh rate: Set to 24 hz (very important)

Now select DTI (HDMI) HDTV support

•  Select the appropriate format your LCD TV supports (e.g. 1080p60 (NTSC))

Press Apply and OK. You should be seeing you laptop on the LCD TV by now.










Setting Up Sound
 On your Volume Control (Bottom right of computer) right mouse click. In the menu select Playback devices. Select or similar option.

Digital Output Device (HDMI)
You will now have the sound from the LCD TV