05-10-2004 01:12									#91
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All hail to the Big Mac index.

	05-10-2004 01:55									#92
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I was just reminded about some old quotes I have in my notepad.

quote: "I guess you think I am an idiot." - Fez "It's hard to ignore the evidence you keep providing to support this hypothesis." - el freako

I don't remember what the thread was about, but things don't seem to have changed much

	05-10-2004 02:01									#93
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quote: Originally posted by Comrade Tassadar Wait a minute...Fez, just a few weeks ago weren't you arguing that capitalism was making the Indian economy "leap" (I believe that was the word you used) to a technology-based economy? Now your arguing for just the opposite!

I said it was gradual. I never said anything about infrastructure. I've always believed infrastructure was lacking for any good enough growth. It will be like Brazil, where power shortages are rampant.

"India has still seen growth from $343 in 1984 to $603 today."

That's not what I call significant. It took twenty years for it to grow half? That's rather small. Not to mention much of the wealth is diffused only to a small portion of the country, and most incomes did not change. So again I win.

"Fez only ever takes notice of facts that prove his point - if he had lived under either regime he would have done well 'proving' that Hitler was a saviour or that Stalin's purges were good for Russia as a whole."

You are acting out of line, and accusing me of something rather grave. You are the fact denyer in this world, and you ****ing hate facts.

	05-10-2004 02:15									#94
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If I had a choice between China or India being the next superpower, I'd pick India anytime

	05-10-2004 02:20									#95
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But it's not an either or thing. It's more of a both thing.

	05-10-2004 02:34									#96
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quote: Originally posted by Giancarlo "India has still seen growth from $343 in 1984 to $603 today." That's not what I call significant. It took twenty years for it to grow half? That's rather small. Not to mention much of the wealth is diffused only to a small portion of the country, and most incomes did not change. So again I win.

Hey Fez:

603 is 175% of 343. How is that a growth of one half?

Care to explain? Or is math wrong too?

	05-10-2004 02:35									#97
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quote: Originally posted by GePap quote: Originally posted by Giancarlo "India has still seen growth from $343 in 1984 to $603 today." That's not what I call significant. It took twenty years for it to grow half? That's rather small. Not to mention much of the wealth is diffused only to a small portion of the country, and most incomes did not change. So again I win. Hey Fez: 603 is 175% of 343. How is that a growth of one half? Care to explain? Or is math wrong too?

Well I should of said a little more then one and one half. You are wrong all the time. But you have to take a look at it in perspective.. is really that much? No.

	05-10-2004 02:39									#98
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Almost doubling in 20 years? That is a fair gain, yes it is.

Speically when you take into account that the population is growing by leaps and bounds- adding at least 200 million people since 1984.

	05-10-2004 02:40									#99
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$300 to $600? Wow. No it isn't. You have to look at where the wealth is actually centered. And you back my own point, by bringing up the explosive population growth.

	05-10-2004 02:48									#100
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Greater wealth means greater ability to invest in the economy: anyway you cut it, it is good.

As for population growth-its a negative, yes, but having the PCI grow by 75% in 20 years even when dealing with such massive growth is very good.

In SA they might have a PCI of $11,000 PPP, but that is significantly down from 20 years ago due to a population boom.

	05-10-2004 02:49									#101
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Greater wealth doesn't mean too much, when the population is growing far too quickly and when the infrastructure is still a mess. Why if they have more wealth haven't invested enough in infrastructure?

	05-10-2004 02:51									#102
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I don't know. Neither do you.

	05-10-2004 02:53									#103
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I posted an article saying they haven't spent enough money in infrastructure. Not to mention bureaucratic corruption is rampant.

	05-10-2004 02:58									#104
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I cant wait for the end of the world as we know it, its shall be great fun to watch!

	05-10-2004 04:10									#105
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quote: Originally posted by Giancarlo "India has still seen growth from $343 in 1984 to $603 today." That's not what I call significant. It took twenty years for it to grow half? That's rather small. Not to mention much of the wealth is diffused only to a small portion of the country, and most incomes did not change. So again I win.

methinks you are too quick to claim victory here Fez,
First off I was mentioning GDPph converted using exchange rates because I thought that (in your ignorance) you had used that measure and therefore gotten your erroneous assumption that that:

quote: Originally posted by Giancarlo GDP per capita has been stagnant for the past ten years

Whereas, as I have pointed out, it has in fact grown by 57%.
How can you equate a rise of 4.6% a year to stagnation?

Secondly if most incomes did not change how can you explain the fall in absolute poverty (those living on $1 a day or less) from nearly a half to around a third?

So I was actually giving you the option of saying that you had misinterpreted the data because of the volatility of the exchange rate.

Instead you make a very basic error in economic comparison and then and focus on the x-rate data

quote: Originally posted by Giancarlo You are acting out of line, and accusing me of something rather grave. You are the fact denyer in this world, and you ****ing hate facts.

Yes it is rather a grave isn't it? Which why I keep drawing your attention to this character flaw of yours.
Show me one instance of me denying facts, I can quote many of yours (as can most people here)

Indeed I throw the question open to all and sundry - whose data would you rather trust, the IMF's or Fez's 'chart' that he hasn't even shown us?

On a side note (and a friendlier one) what is that picture in your Avatar, it has me intrigued?



By the way, GDP per head converted using PPPs (a far better measure than exchange rates) went from $885 in 1984 to $1639 in 1994 to $2849 today - although this figure is gives and inflated view of the growth because the US price level has risen by 60% since 1984.
At constant 2000 prices India's GDP per head has risen by 101% over the last 20 years compared to a 49% rise in the US.

	05-10-2004 05:16									#106
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Stop using all those fancy numbers and figures, you'll confuse the boy

	05-10-2004 05:17									#107
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quote: Originally posted by GePap Stop using all those fancy numbers and figures, you'll confuse the boy

Alas, you may be correct

That said the article he linked to has merit, and India has underinvested in physical and human capital - which begs the question as to how high their growth would be if they had invested properly (probably chinese levels, i.e. 8% or more)

	05-10-2004 05:21									#108
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I horrible, creepy and daming asd it may be, as as much as I may feel the need for a long shower afterwards, I have to slightly agree with Fez, that China will be a world power long before India.

	05-10-2004 05:27									#109
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Well that's a no-brainer - would you feel creepy if you agreed with him that water is wet?

India is a good 20 to 25 years behind China in terms of catch-up with the west, it will only be after 2020 when India starts to pull ahead growth wise and it will probably take half a century after that for India's GDP to equal China's (by then both will be 20% to 40% bigger than the US's)

	05-10-2004 05:36									#110
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quote: Well that's a no-brainer - would you feel creepy if you agreed with him that water is wet?

Yes I would-at the same time, I am sure he would deny it, saying that "wetness" was a communist conspiracy and his water is never wet.