Saturday, December 17, 2005

iht: overseas remittances destroy your initiative

dec 16th

they are talking about the philippines, but this applies to kerala too. the word 'cargo cult' leaps to mind. the gulf boom (which may end shortly) and the nurse boom (which shows no sign of ending any time in the near future -- and now men are joining nursing schools as well in kerala) will keep the money-order economy going strong in kerala.

'moral hazard': in kerala this means rampant land speculation, the accumulation of gold and clothes.

http://www.iht.com/articles/2005/12/16/news/phils.php

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