Stopping the spread of Ebola as quickly as possible is crucial. Several disjointed paths seem to be in motion, both regionally and globally. Last month’s Africa Summit in Washington DC touched on it but did not have all Ministers of Health present, and individual African countries have issued scattered curfews but no effective travel bans on citizens in affected areas. The WHO continues to issue warning statements of varying levels of severity, most recently with a casualty figure of 10,000 deaths, which may not impress those who realize that seasonal influenza kills scores more—so should we not worry, then? Meanwhile, many, especially in Africa, are looking to the WHO for more than predictive statistics. The WHOs recently published 26-page Ebola Response Roadmap makes but a small dent in this disease. Read More »
In an exclusive interview with CNBC-TV18’s Malvika Jain on July 02, 2014, SP Kothari, Deputy Dean, MIT Sloan School of Management gave his take on the expectations from Arun Jaitely’s maiden Union Budget and his outlook on the road ahead for the Indian economy.
Below is the verbatim transcript of the interview:
Q: Government is in the process of preparing its first Budget since it took charge. What should be the priority areas where the government should focus?
A: Mr. Jaitley has to recognize and Mr. Modi also has to recognize that changing the furniture around the house is not going to make the house look that much different. It might make it look somewhat different but that is not a game changer and they have to think in terms of policies that dramatically alter if the goal is to increase the per capita income from where it is currently at about 1500 to say about USD 5000 in 10 years. Those game changing policies will have to focus on population growth, they will have to focus on FDI, they’ll have to focus on how our governance is and how our law enforcement is. Just to name a few set of policies that Mr. Jaitley should pay attention to in the maiden budget that he would be presenting on the 10th of July.
Q: Arun Jaitley has indicated that sector specific FDI is something that the government is going to be looking at. Do you think that that is going to be sufficient to spur investment flow into the country?
A: People’s decision to spur investment only partially hinges on what sectors are open for an investment. People’s decision to invest is influenced to a large extent by what kind of climate there is; climate includes what kind of law enforcement there is, what kind of labour supply there is, what kind of tax regime there is, what kind of regulation exists in general and is it easy to do business or not – open new businesses as well as close new businesses. So, the look has to be much more holistic in attracting foreign investment rather than a piecemeal approach by saying that we will open certain sectors for investment and wait for foreign investment to flow. I don’t think that is going to change or make a dramatic improvement in the investment climate.
Entrepreneurs are serious players in today’s innovation economy, leaders who can generate wealth, create jobs, and transform the lives of customers and employees alike. And yet only a few women can be found among the entrepreneurial elite. When you examine the venture-capital money going to fund the Biogens and Akamais of tomorrow, only 7 percent is won by female entrepreneurs. Although it is true that fewer women overall found businesses — and those they create tend to be in industries that don’t appeal to venture capitalists (VCs) — research shows that other factors are at play.
Each time I organize panels for my students at the MIT Sloan School of Management, I listen as VCs list their investment criteria: market size, competitive advantage, customer need. But when pressed about the uncertainties inherent in their evaluation, the VCs inevitably fall back on their assessment of the company’s leaders. “I ask myself: Is this a person I want to have breakfast, lunch, and dinner with,” one man told the class. “Are they the first person I think about when I get up in the morning?” asked another. This approach struck me more like a search for a soul mate than for a financial investment. In this process, female entrepreneurs fair poorly. Read More »
Americans are spending more money at the pump than ever before. According to a recent estimate by the Energy Department, the average U.S. household spent nearly $3,000 on gasoline last year. Earlier this month, theU.S. Energy Information Administration forecast that the price for regular gasoline will average $3.63 a gallon this summer — a slight decline from last summer, not far from the record levels set in 2008. Why do oil prices remain so stubbornly high?
According to some in Washington, the blame lies with “speculators” — investors who buy and sell oil futures contracts to bet on the price of oil. As they see it, these scheming speculators — which may be individuals, but can also be mutual funds, hedge funds, or other investment institutions — inject billions of dollars into commodity exchanges in pursuit of a limited number of barrels, which in turn drives up the price of oil. Speculators, critics say, rake in piles of money at the expense of ordinary people who are going broke fueling their cars and heating their homes. Read More »
“Today, and in the days ahead, we will come together to give new meaning to President Rafael Reif’s call to be ‘One MIT.’ The many comments of students who had gotten to know Officer Sean Collier as a friend, peer, and respected professional are heart-warming and a tribute to him and to our community-of-one culture. By celebrating that as we grieve for Sean, his family, and for MIT we might just demonstrate the spirit of solidarity so badly needed in other parts of our society.” Read More »