If one were to look abroad, most of the macroeconomic think tank is populated by Professors from various Universities. This is more true in the case of US. Harvard, Columbia (where Prof. Sachs sits), Princeton (home of Prof. Krugman), Michigan (Prof. Prahalad), Chicago (Prof. Rajan) and several top notch Universities house these think tanks, draw from the wealth of their experience and are ready to provide advise to various institutions including Fed and Treasury and even to the Office of the President on economic affairs. While the MBAs from these schools do make millions and at some point contribute to the meltdown directly or otherwise, the teachers do stand up to provide advise and support or at least make their voices heard.
In India, we have the IIMs - quasi-government controlled age old institutions. The IIMs, particularly A, B & C are guilty of identifying some of the smartest brains in India, arm them with business skills and help fast track their careers by providing opportunities via placement cells and excellent pay packets running to crores of rupees. All this for a paltry fee. Obviously the immediate RoI for someone who walks into IIMs is a gazillion times more than doing a similar course in US Universities. And yeah, these smart IIM grads have grown to greater heights and as said before contributed one way or other to meltdown.
But contrary to US, where are the IIM professors advising the nation at the time of the need? These are guys who educate the smart brains of the country. Where are their opinions? Why is it that they make a rare apperance in Economic Times or any other leading public daily advising or giving opinions to Indian government and Indian citizens. Is the government controlling their views too? Are they not being allowed to express opinions through blogs & columns? Does the IIM institution prevent its staff from talking about real world problems? IIMs continue to make news only regarding CAT, placements/internships, director appointments or OBC quotas.
While I do understand that this comparison comes with its own bunch of flaws, the core question of why are the IIM Professors absent in a Indian think tank still remains. Come on IIMs, you have a duty to this nation. We have serious problems and we need smarter and serious people to solve them.
In India, we have the IIMs - quasi-government controlled age old institutions. The IIMs, particularly A, B & C are guilty of identifying some of the smartest brains in India, arm them with business skills and help fast track their careers by providing opportunities via placement cells and excellent pay packets running to crores of rupees. All this for a paltry fee. Obviously the immediate RoI for someone who walks into IIMs is a gazillion times more than doing a similar course in US Universities. And yeah, these smart IIM grads have grown to greater heights and as said before contributed one way or other to meltdown.
But contrary to US, where are the IIM professors advising the nation at the time of the need? These are guys who educate the smart brains of the country. Where are their opinions? Why is it that they make a rare apperance in Economic Times or any other leading public daily advising or giving opinions to Indian government and Indian citizens. Is the government controlling their views too? Are they not being allowed to express opinions through blogs & columns? Does the IIM institution prevent its staff from talking about real world problems? IIMs continue to make news only regarding CAT, placements/internships, director appointments or OBC quotas.
While I do understand that this comparison comes with its own bunch of flaws, the core question of why are the IIM Professors absent in a Indian think tank still remains. Come on IIMs, you have a duty to this nation. We have serious problems and we need smarter and serious people to solve them.
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