Bloomberg coveredthe release of India’s quarterly GDP growth. And at 8.8% it is impressive. Quite healthy internals and an interesting point for us to consider from a platform perspective.
While the mass of the remaining world economies continue to struggle, the question is why is India so successful? While an argument can clearly be made that lower wage rates continue to drive production in India, what is interesting if you dig into the GDP numbers and take a look at their monetary policy it is clear that they are looking closely at RISING wage rates throughout the country. In addition the access that folks have to cash from those rising wages is having a positive impact on domestic consumption.
So while our main arguments for treating Government as a Platform for change surround open government data and precepts around technology, it extends into vital areas like the economy. In general I am a laissez-faire type of economic thinker, but the crisis and those growing their way out of it strongly suggest that active participation is far healthier than governments slow to interject their power into the economy. Again, our belief on this blog that platforms are far better than direct service provision is illustrative here.
Economy watchers that manage inflation actively and without fear will create a platform safe for growth in the private sector while dominance in terms of market control may unneccessarily restrain or spook capital. The platform approach appears to be a good balance between the two in economic terms, as well as technological terms.
This leads to an interesting output. In a conversation with a colleague yesterday about the IMF and the WorldBank, the question arose about whether we could affect the austerity programs inside these organizations to include precepts about open government and open data in particular. It is not an easy question, but one that is vital. If we look at the WorldBank alone in terms of cash flows, we could see an awful lot of impact simply by placing a requirement inside of their granting programs that mirror some of the admittedly controversial austerity programs in the IMF programs.
Let me be clear, I am not sure our definitions in this space are clear and fair enough yet for us to push for austerity inclusion right now, but I do think we should have the conversation. I think we have an opportunity and an obligation to engage in a conversation that would enable some of our lesser developed nations to develop into more effective organizations based upon Government as a Platform thinking as opposed to the world funding more governmental vending machines.
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