Airlines
Sir Richard shows the way
SIR RICHARD BRANSON will shortly become a hero to the Indian flying public who will now be able to visit Britain by paying an airfare of less than Rs. 30,000, and perhaps much lower within a few months. If airlines are meant for air-passengers -- and not
the other way around as seems to be the case in India what with the government bending over backwards to `protect' Indian Airlines and Air-India by interfering with the natural process of price competition, among other measures -- then Sir Richard's air
line cannot but be complimented for the reduction in fares because of the beneficial effect on consumers.
Economy
Clipping the wings of security analysts
A FAVOURITE among the dotcom (that is, Internet-based) companies in the US is Amazon.com. It started as an Web-based retailer of books and, more recently, expanded into such other products as electronics and toys. Its CEO, Mr. Jeff Bezos, is considered a
visionary, and Amazon's actions and performance are often considered a leading indicator of Internet-based companies in general. Amazon has seen double- and triple-digit growth rates, and the conventional wisdom is that if Amazon cannot make it, no oth
er such virtual retailer can.
An argument for controls on fund flow
The way Columbia and Chile, dealt with large inflows through monetary regulations is particularly impressive. In both these countries, a special reserve requirement was introduced on new foreign borrowing. ``The reserve requirement is in t
he same currency as the foreign borrowing, is not remunerated and is applicable to all foreign loans to banks and others.'' This was to prevent inflows of volatile funds.
Investors should overweight Europe
Europe is behind the US and the UK in the efficiency of its labour force, and it is likely to get worse. Not only is there no growth in employable population,but the participation rate also is lower, because of labour market rigid
ities that dampen enthusiastic hiring, says V. Anantha-Nageswaran.
Editorial
Dithering on textiles
THE DITHERING AND the inaction on the long-awaited new textile policy continue even as the Textiles Minister, Mr. Kashiram Rana, has been talking of speeding up major policy initiatives to make the industry globally competiti
ve. Latest reports indicate that sharp inter-ministerial difference may delay the announcement of the policy yet again. For instance, the SSI Ministry is opposed to the dereservation of textile garments that the Textile and Commerce Ministries have
been demanding. There are also differences over the closure of sick NTC mills and the role of the handlooms sector.
Miscellaneous
Non-column!
CAN YOU guess what the most dreaded occupational hazard is, of a columnist with unbreakable deadlines to meet? You are not only welcome but also right to ask me! Not all columnists will be as candid and forthcoming as this writer imagines himself
to be. One has no hesitation in revealing the calamity that overtakes a columnist, which is only a slight improvement on Spanish Inquisition: He is suddenly running out of topics and being left high and dry at the penstand, typewriter or the keyboard.
Policy
The `marketing intent' of WTO
IN 1680, there were protests in England against the import of Indian cloth; employers and workers alike were behind the protests. The bosses were hurt by business lost due to imports while the workers were hurt by unemployment as a result of t
he locals' fascination for the products from the exotic East. These protests led to the rulers of the day banning all such imports and also stopping the manufacture of imitations by the domestic manufacturers. History, be it of political, military
, trade or even of a climatic nature, has the habit of not only repeating itself but with a vengeance too.
