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Two good reads in the Mumbai TOI edition today (October 21, 2012)

I generally do not rely on the Times of India (TOI) to give me my daily dose of useful, thought-provoking information, but the TOI did really get it right today! Page 24 carries two such thought-provoking write-ups. One is a column called Swaminomics by Swaminathan S Anklesaria Aiyar and the other an interview of Joseph Stiglitz, one of the few economists with the foresight to predict the financial crisis of 2008.

So what pearls of wisdom do they have to share with readers? Swaminomics is aptly titled CSR: a cloak for crooks (spot on, if you ask me!), while Stiglitz explains why he believes that India doesn't need FDI in retail to grow.

And, I quote:

"Lesson: don't get fooled by corporate spending on CSR..." - Swaminomics

"Not having access to FDI is not an impediment in India. Wal-Mart is able to procure many goods at lower prices than others because of the huge buying power they have and will use that power to bring Chinese goods to India to displace Indian production. So the worry is not so much about the displacement of the small retail store but displacement further down the supply chain." - India does not need FDI in retail to grow, An interview by Shobhan Saxena of the TOI with Joseph Stiglitz.

Both topics--CSR and FDI in retail--offer food for thought in environmental and social terms. Does CSR really benefit those it is supposedly intended for? Or is it just a mask that companies wear? Is FDI in retail going to propel India forward inclusively, or will it just create a bigger rift between the haves and have nots?

Without much ado, do read both these write-ups here and here, and feel free to write in.

This post was originally published at mahazareendastur.blogspot.in.

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Comment by Prof Dr V N Sivasankara Pillai on October 22, 2012 at 6:33am: The general election is fast approaching. Some thing is needed to keep voter donkeys engaged. Intangible targets like garibi hatao are over. Now good themes are (for middle class) cooking gas, FDI etc, and kerosene and toilets for the BPL. Voters forget Swiss bank accounts, Adarsh, Lavasa and mining in the light of new distractions.

Comment by GOPI KANTA GHOSH on October 22, 2012 at 2:33am: Good one

Comment by Amit Maheshwari on October 21, 2012 at 11:50pm: We had a lot of corporate discussion on CSR in CSR India Conclave 2012 at IIFM Bhopal on 19/october..