In India, Many Potholes and Not Enough Engineers - NYTimes.com.
Despite this nation’s rise as a technology titan with some of the best engineering minds in the world, its full economic potential is stifled by potholed roads, collapsing bridges, rickety railroads and a power grid so unreliable that many modern office buildings run their own diesel generators to make sure the lights and computers stay on.
It is not for want of money. The Indian government aims to spend $500 billion on infrastructure by 2012 and twice that amount in the following five years.
The problem is a dearth of engineers — or at least of civil engineers with the skill and expertise to make sure those ambitious projects are done on time and to specification.
Civil engineering was once an elite occupation in India, not only during the British colonial era of carving roads and laying train tracks, but long after independence as part of the civil service. These days, though, India’s best and brightest know there is more money and prestige in writing software for foreign customers than in building roads for their nation.
It is not for want of money. The Indian government aims to spend $500 billion on infrastructure by 2012 and twice that amount in the following five years.
The problem is a dearth of engineers — or at least of civil engineers with the skill and expertise to make sure those ambitious projects are done on time and to specification.
Civil engineering was once an elite occupation in India, not only during the British colonial era of carving roads and laying train tracks, but long after independence as part of the civil service. These days, though, India’s best and brightest know there is more money and prestige in writing software for foreign customers than in building roads for their nation.
Our best and brightest ...
Think about it. $500 billion in spending on infrastructure between now and 2012. Those projects are likely to create $1 trillion to $6 trillion in increased land value!
Another $1 trillion in investment in infrastructure between 2013 and 2017. That will create $2 trillion to $12 trillion in increased land value.
So here's the question. How should India finance that $1.5 trillion in investment?
- Should they tax the wages of their workers?
- Should they tax the purchases of their workers?
- Or should they collect some portion of that increase in land value year in and year out?
What might America learn by considering what India's options are?
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