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Indus-ian t1_j6mk7vv wrote

Reply to comment by Nightshade238 in At 6.1%, India to be fastest-growing economy, projects IMF; China at 5.2% by Gopu_17

India experienced a socialist system for its first five decades which made people poor. With the opening up of economy, lot of people were pulled out of poverty.
But here the focus seems to be wondering why the rich got richer rather than thinking did the poor got better in the same time? The answer is yes.

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SentientHotdogWater t1_j6n9nv7 wrote

>India experienced a socialist system for its first five decades which made people poor.

Yep, that's what made India poor. Definitely didn't have anything to do with centuries of British colonialism.

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Indus-ian t1_j6nbqr8 wrote

Yes the colonial occupation was the biggest cause. But when India got independence it could have charted a better economic model for faster prosperity.

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SentientHotdogWater t1_j6ndp0b wrote

Can you give me an example of a post-colonial nation that was able to become economically prosperous immediately after obtaining freedom using only free market capitalist economics?

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Indus-ian t1_j6nf9fe wrote

I didn’t claim an immediate prosperity from a colonial rule.
I can’t really fault the economic policies from independence to around 60’s. What caused the slow growth was a bunch of economic policies that included nationalisation in the 70s. That crippled the economy and almost went bankrupt in late eighties and nineties.

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