How supposed job losses can actually mean rising prosperity

January 19, 2014 10:58

Narendra Modi and Arvind Kejriwal have one thing in common. Both have said "no" to majority foreign direct investment in retail markets.

Modi's rationale is obvious : the BJP has always been the party of small traders, and so he is backing the aam bania over the aam admi. But why has the Aam Aadmi Party also given priority to traders and middlemen over consumers? Because, says Kejriwal, this will affect employment.

Really? Supermarkets have indeed killed small shops in rich countries like the US. But in fast-growing developing countries like China and Indonesia, supermarkets and small shops have flourished together. Why should India be any different?

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