Stunning self-correction

Sentence to ponder over (Fixerpreneurship by Shekhar Gupta):

• If you draw a simple chart of the large companies that have lost the most value on the stock markets over the past three years, you’d notice that almost all of these were doing business on the same cusp of politics, finance and natural resources. To that extent, you have to admit that the market has been the first to sense the rot and has applied a stunning self-correction, severely punishing those responsible for it. Many of those who called themselves masters of the universe until just the other day, flaunting Bentleys, private jets, yachts, Swiss chalets and more, are now hiding from their bankers and shareholders and blaming the “system”. Obviously, there can be no sympathy for them or for their bankers. The small shareholder is always the victim of hype. So the markets, at least, have responded to this multi-layered crisis of governance.

Prof Ajay has very interesting post here discussing about the Indian capitalism and its wings of fire.

Sadanand Dhume point out that unlike India "Japan, South Korea and Singapore didn't start seriously expanding their social welfare programs before they were well into middle-income status—at which point growth had begun addressing the major woes."