In an interview, published in Indian Express on 30th Oct., author Friedman said that there were 5 pillars for development of a country, i.e. 1. Education. 2. Infrastructure. 3. Immigration. 4. Capital formation. 5. Govt. funded research. The USA strengthened these pillars and became a powerful country. Now it is failing in all these fronts. It is declining and Pillars are getting weaker. Globalization is one reason for it. Priorities are not properly worked out. A complete review and strengthening of the pillars are required for its revival.
I don't know how far Friedman is correct in his analysis. But one thing is certain that influence of USA in the world is not as it used to be a decade back. But I agree with Friedman in so far as he has advised to strengthen the 5 pillars for the revival of USA to its earlier position.
I agree with his another analysis, given in the interview that socialism made everyone equally poor. Globalization and capitalism had made people unequally rich.
Retired to sleep at 11pm.
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