Manmohan Singh Quotes

The Korean economic miracle was the result of a clever and pragmatic mixture of market incentives and state direction.

In Africa today, we recognise that trade and investment, and not aid, are pillars of development.

There is much that remains mysterious about why some countries grow rapidly and some grow slowly.

While China succeeded in transferring nearly 150 million people from agriculture to manufacturing, we could not do so, due to lack of skilled manpower.

There was a time in the mid-'50s when the Philippines was in the same league as Japan economically and academics-wise.

Yes, I think India's economy always has been a mixed economy, and by Western standards we are much more of a market economy than a public sector-driven economy.

Today, being the biggest developing countries in the world, China and India are both committed to developing their economy and raising their people's living standards.

I responded that we needed a private sector to improve the market situation and make peoples lives easier.

For a developing country, average long-run growth of 5 percent a year per capita is excellent, and 7 percent is stellar.

Our approach to economic development must be modern, focused and in tune with the global trend.

If you go back to 1800, everybody was poor. I mean everybody. The Industrial Revolution kicked in, and a lot of countries benefited, but by no means everyone.

The Indian economy grew at 5.5 percent, but if you look at the last 30 years - for example, 1960 to 1985 - the progress made by East Asian countries was phenomenal. In a single generation they had been able to transform the character of their economy. They were able to get rid of chronic poverty.

The dramatic modernization of the Asian economies ranks alongside the Renaissance and the Industrial Revolution as one of the most important developments in economic history.

I want to take this opportunity to acknowledge that our foreign friends are welcome to join in our endeavor to develop the resources of our country.

The economy is the creation of the personal initiative of private citizens….Public authorities also must play an active role in promoting increased productivity with a view to social progress and the welfare of all citizens.

Modernization is found in markets.

A nation imports from a distance a manufactured commodity, which it is granted it could make as cheap, or cheaper, at home, were the manufacture introduced there. To introduce the manufacture is, however, too expensive a project to be carried into effect by any private individual. The whole society might do so, through the expenditure for a few years of a portion of its revenue, much less than what an equal number of years succeeding them will return to it in the diminished cost of the article.

Except for a few oil-rich countries, no developing country has successfully modernized without slowing population growth.

You don’t produce development through aid; you produce it through private investment which creates jobs.

The raw fact is that every successful example of economic development this past century—every case of a poor nation that worked its way up to a more or less decent, or at least dramatically better, standard of living—has taken place via globalization; that is, by producing for the world market rather than trying for self-sufficiency.

The corporate welfare state derived from an approach to economic development which worships at the shrine of the gross national product.

The market economy itself was not a product of violent action—of revolutions—but of a series of gradual peaceful changes. The implications of the term “industrial revolution” are utterly misleading.

… of the world’s nearly 200 economies, only 35 have reached developed status and stayed there. The rest are still emerging, and many have been emerging forever.

China adopted a capitalist system in the 1980s, and they went from a 60% poverty rate to 10%.

The fact is, Canada needs investment, particularly in infrastructure.