Economy needs a systems thinking-based solution
Mumbai, Sept. 20 -- Mounds of anecdotal evidence, supported by the government's own macroeconomic data, say the Indian economy is in a slump. The question for policymakers is how to revive and sustain inclusive growth. Many things must be fixed: the financial system, manufacturing, agriculture, infrastructure, health and education. The problem for the government is how to determine the right solution for a complex problem. Many solutions are being offered but the debate is stalled by ideological differences. Recently, I witnessed a discussion between one of the country's best-known economists and a leader of the country's largest industry association. The economist asserted that India's commerce minister should be more enthusiastic about jo...
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