Shelves

Business

Cover of The life and times of G.D. Birla

The life and times of G.D. Birla

7 ideas

Buy on Amazon
  1. Mastering licensing invites a backlash

    Where the state hands out industrial licenses, a firm skilled at the system can capture a large share of them. One business house won a fifth of all licenses over a decade, and that success itself became evidence used against it.

  2. Business money buys political influence

    Industrialists who fund a political movement gain influence over the climate their own companies will operate in. Funding the independence movement and its main party helped create conditions in which local enterprise could grow against colonial dominance.

  3. Funded politicians may feel no gratitude

    Politicians can gladly take money from business while feeling no obligation, or even contempt, toward the donor. Financing a party buys access, not lasting goodwill.

  4. Prominent tycoons become easy political targets

    When the political mood turns against private business, the best-known industrialist becomes a convenient target. Ambitious politicians attack him to make their own name, whatever his past services to the cause.

  5. Planned economies can veto private projects

    Under central economic planning, a private firm can move early into basic industries yet still see years of preparation thrown away when the state refuses permission. The state decides which heavy industries private capital may enter.

  6. Quiet reform hangs on one leader

    Economic liberalisation can be attempted by stealth, through small changes made without announcing a change of direction. Because it rests on one leader rather than open public support, it dies when that leader goes.

  7. Frugal discipline as inherited business ethic

    A trading community can pass its business culture down as strict personal habits. These include abstinence, early hours, early marriage, regular routine, close family ties and switching off lights to avoid waste, with extravagance treated as the chief sin.

Save ideas and give them a thumbs up or down in the app