India buys England
Historical time
We had a discussion last semester in an economic theory seminar on how long is long in economic time. I proposed 30 years as 30 years ago India and China were seen as economic laggards and today are leading the world adding 2-3% to annual per person worldwide income growth, e.g India and China are bringing up the world averages with their phenomenal expansions.
Now there has been a recent announcement that Tata Motors in India, a colony of England until 1947, is closing on its purchase of what once where two of England's major brands, Jaguar and Land Rover. This shows that 60 years is a nice period in which to evaluate history....from colony to economic superpower in 60 years. The whole social relations of power have shifted showing that economic power trumps coercive empire.
We had a discussion last semester in an economic theory seminar on how long is long in economic time. I proposed 30 years as 30 years ago India and China were seen as economic laggards and today are leading the world adding 2-3% to annual per person worldwide income growth, e.g India and China are bringing up the world averages with their phenomenal expansions.
Now there has been a recent announcement that Tata Motors in India, a colony of England until 1947, is closing on its purchase of what once where two of England's major brands, Jaguar and Land Rover. This shows that 60 years is a nice period in which to evaluate history....from colony to economic superpower in 60 years. The whole social relations of power have shifted showing that economic power trumps coercive empire.
posted by Cameron Weber at 8:13 AM
