As I ran the half marathon today (for the 4th time I might add!), I needed to churn something in my head to keep myself occupied. What better than to compare the marathon to the economy!
For starters, its tough to complete the half. Really tough. Just as tough as it is to grow the economy!
Its really tough to run at a fast pace. So also.....really tough to grow the economy really fast!
My excess baggage (around the waist) doesnt help me one bit.....and all the extra baggage we have as a society and history (ref: caste, religion, aaargghh!) doesnt help the economy either!
Completing the marathon needs great grit and determination. Ditto growing the economy!
Each runner has to play his own game. Cannot emulate the others running alongside. Likewise with countries....India cannot ape any other country's model!
There are ups and downs on the way to success. Also every incline is followed by a decline.....likewise in the journey of a country!
The environment matters a hell of a lot in getting a good timing.....so does it in building an economy! The only difference is that a runner cannot determine the environment, but those who run the economy surely can!
The cheering squads are crucial to completing the run......imagine if you had crowds booing people and cribbing about their slow pace, their style etc? That's how it is for the economy as well......the cheering squad here is the media! A cribbing media doesnt help matters!
You need to investment a lot of money in becoming a good runner.....on running classes, shoes etc etc. Likewise with the economy. Hence concepts such as savings rate, investment rates matter so much!
Foreigners add glamour and improve the competitive spirit in a marathon. Likewise in the economy.....FDI and competition with foreign brands and companies are a crucial part of economic growth! The only difference is that the marathon is dominated by the Africans....and the economy by the Europeans and Americans!
While individual success is important, what gives max joy is when all members of your team finish the marathon with their best personal timings. Likewise, when all sections of the society profit from a growing economy!
And lastly, those who win love to relate their success stories....check out the number of facebook updates today! Ditto with successful economies......their success stories are discussed everywhere!
Incidentally, Anil Ambani was next to me at the start of the race and I was tempted to tell him about my blog of yesterday. But then looking at his two body-guard (also runners!), I thought it best to stay away!
Today's post is just a normal write-up. There is no real truth to reveal. And that's the real truth!