Clockwork Rose

t’s easy to dismiss the pursuit of measuring happiness as well-meaning claptrap for tough economic times. On the contrary, there’s growing acceptance of the search for new, radical ways to make things better. Look, for instance, at the excitement generated by the high-flying commission appointed by French president Sarkozy, which recently delivered a voluminous report on better ways to measure economic health. Frankly, the debate over GDP will take decades to be resolved—but at least it has been started. Kicking up a debate is precisely what this book by William Bissell, head of retail giant Fabindia, seeks to achieve. It has a noble mandate: how to eliminate poverty from India. This detailed manifesto for change, however idealistic, is rooted in very relevant questions on India’s economic priorities. Most importantly, are we really on our way to becoming an economic superpower?

Bissell makes it abundantly clear which side of the fence he’s on, arguing that India needs to create a completely new development path to stop being a “poorly managed country”. Fundamentally, he attacks consumption-driven growth and seeks an overhaul (driven by “true markets”) to properly value assets of the people. This is not your usual federal agenda. It’s radical stuff, from new ways to value assets and look at tax revenues to recasting the political and judicial systems. While Bissell has gone into incredible detail, he wisely steers clear of solving social ills like the caste system. As he puts it, this book requires huge leaps of faith and doses of incredulity. But shocks to the system are always welcome.