What Is Socialism? Why I Changed the Subtitle of My Previous Post

© 2020, Farok J. Contractor, Rutgers Business School In commenting about the Indian economy and its relation to International Business in my previous post, I had initially used the term “socialist somnolence” in the subtitle to describe the Indian business environment as it existed decades ago. Some elements of that past linger, as I described, … Continue reading What Is Socialism? Why I Changed the Subtitle of My Previous Post

India and Its Role in International Business: The Sleeping Giant Is Still Waking from Its Overregulated Past

Updated Title August 29, 2020 - See: What Is Socialism? Why I Changed the Subtitle of My Previous Post INTRODUCTION TO THE NARRATED SLIDE PRESENTATION GIVEN AT THE AUGUST 2020 ACADEMY OF MANAGEMENT ONLINE MEETING © 2020, Farok J. Contractor, Rutgers Business School Note: To see the PowerPoint slides and also listen to the voice … Continue reading India and Its Role in International Business: The Sleeping Giant Is Still Waking from Its Overregulated Past

From Bombay to Baltimore: Was the American national anthem composed on a ship built in India at the Wadia Shipyard?

© 2019, Prof. Farok J. Contractor, Rutgers Business School This is an updated and revised version of the June 14, 2018 post: The “Star-Spangled Banner” and an Early Example of Outsourcing: The American National Anthem Was Composed on a Ship Built in India The featured image of the Stars and Stripes above is housed at … Continue reading From Bombay to Baltimore: Was the American national anthem composed on a ship built in India at the Wadia Shipyard?

Advantages and Drawbacks of Undervalued Versus Overvalued Currencies

© 2019 Prof. Farok J. Contractor, Rutgers University UPDATE: See the August 11, 2019 post: Trump Administration Labels China a “Currency Manipulator”: What’s behind the accusation, and who’s right? Also See the Companion Post:  Is the Indian Rupee Undervalued or Overvalued? What Purchasing Power Parity Theory Tells Us Currencies can be undervalued (very devalued) for natural reasons, … Continue reading Advantages and Drawbacks of Undervalued Versus Overvalued Currencies

Is the Indian Rupee Undervalued or Overvalued? What Purchasing Power Parity Theory Tells Us

2019 Prof. Farok J. Contractor, Rutgers University Also See the Companion Post:  Advantages and Drawbacks of Undervalued Versus Overvalued Currencies The basic idea of purchasing power parity (PPP) theory is that money, as such, has no value. It is merely a piece of metal, paper, or plastic—or even a phantasmic electronic entry. What gives money … Continue reading Is the Indian Rupee Undervalued or Overvalued? What Purchasing Power Parity Theory Tells Us

The “Star-Spangled Banner” and an Early Example of Outsourcing: The American National Anthem Was Composed on a Ship Built in India

© 2018, Farok J. Contractor, Rutgers Business School See the updated and revised version of this post, July 11, 2019: From Bombay to Baltimore: Was the American national anthem composed on a ship built in India at the Wadia Shipyard? The featured image of the Stars and Stripes above is housed at the Smithsonian. On several … Continue reading The “Star-Spangled Banner” and an Early Example of Outsourcing: The American National Anthem Was Composed on a Ship Built in India

India Jumps 30 Places Higher in World Bank Rankings: Update on “Thousands of Hindu Gods – Made in China”

© 2017, Farok J. Contractor, Rutgers Business School This is an update to my September 7, 2017 post, in which I described seven reasons why India’s manufacturing competitiveness still lags behind China’s — but also how the Modi government is taking steps to alleviate the bottlenecks. (See reader comments in the original post.) Click for PDF of … Continue reading India Jumps 30 Places Higher in World Bank Rankings: Update on “Thousands of Hindu Gods – Made in China”

Thousands of Hindu Gods – Made in China: Seven Bottlenecks to Indian Manufacturing

NOTE: THIS POST WAS UPDATED ON NOVEMBER 13, 2017. A version of the original post also appeared as an article on YaleGlobal Online October 24, 2017 as  Made in China: Millions of Hindu Gods. An embarrassing tale about India’s manufacturing competitiveness. But there is hope. © 2017, Farok J. Contractor, Rutgers Business School Images of Deities … Continue reading Thousands of Hindu Gods – Made in China: Seven Bottlenecks to Indian Manufacturing

Tax “Amnesty” for Multinationals—But Not for Illegal Immigrants

© 2017 Farok J. Contractor, Rutgers Business School Republicans want a one-time tax of the money currently stashed overseas at a "tax holiday" rate of 8.75 percent, according to the House blueprint, while Trump has called for 10 percent. (Reuters, January 25, 2017)[1] As a professor of International Business I am in favor of ethical business, … Continue reading Tax “Amnesty” for Multinationals—But Not for Illegal Immigrants

Some Reflections on Mahatma Gandhi’s Birthday

© 2014 Prof. Farok J. Contractor, Rutgers University I used to have some doubts about the suitability of Mohandas (“Mahatma”) Gandhi (1869–1948) to participate actively in the governance of post-independence India. Some of his ideas would have been antithetical to the development of large-scale industries, where scale is needed for efficiency. Often portrayed spinning his own … Continue reading Some Reflections on Mahatma Gandhi’s Birthday