In terms of advantages, you forgot the backward and forward linkages that the production of a product creates. Also there was political support coming from the labor movement due to their high wages under ISI.
Thank you , Rashi! I really appreciate your kind words! By the way, If you are interested in complete courses in Economics, I just launched a website, www.bradcartwright.com, designed for all types of econ students. Check it out if you think it would be helpful! Good luck and stay in touch, Brad
thank you so much you made it very easy to understand I wish if you also discuss the whole economy really easy to understand from you and the concept get direct to my brain
Can you help me in making a list for import substitution goods . Like is there a criteria by which I can list out items for import substitution for India ?
...and it usually involves monopolistic state enterprises which leads to corruption, nepotism, inefficiency/misallocation of resources and being at the mercy of popular sentiment.
hmm actually gandhi's noncooperation movement was pre independence movment, it was nehru who made india a socialist country nd introduced ISI, import substitution sabotaged indian GDP till 90's liberalization..is there any positive example for import substitution?
so most countries in east asia developed through EOI whilst latin america chose ISI (eventually leading east asia to overtake latin america), having said that due to usa-china trade war and due to the size of china, if china chose ISI would the same outcome still occur??
China did try ISI under Mao and the results were disastrous. It caused a famine which led to the deaths of millions. Eventually under Deng Xiaopeng, China shifted towards EOI and the rest is history.
tomorrow is my exam of economics & you made it really easy to understand it , thank you !
Cool! Good luck!
Same here
Same here
Awesome video, I'm cramming for my last undergrad final THANK YOU SO MUCH
In terms of advantages, you forgot the backward and forward linkages that the production of a product creates. Also there was political support coming from the labor movement due to their high wages under ISI.
Excellent video! You explained everything clearly. I subscribed.
Thank you for making it so easy to understand!
You're welcome and thanks for taking the time to post a comment. That's very kind of you! Good luck!
Welcome
You were awesome ... I like the way u make understand specially with examples ... I loved your video ❤ cleared all my doubts
Thank you , Rashi! I really appreciate your kind words!
By the way, If you are interested in complete courses in Economics, I just launched a website, www.bradcartwright.com, designed for all types of econ students. Check it out if you think it would be helpful!
Good luck and stay in touch,
Brad
@@BradCartwrightEconomics surely sir i would love to learn from you ❤
thank you so much you made it very easy to understand I wish if you also discuss the whole economy really easy to understand from you and the concept get direct to my brain
Thank you for explaining this in terms we can understand. I like your enthusiasm while explaining this topic.
Hey thanks! Enjoy the rest of the series!
I like how you explain ISI in depth thank you. How would ISI lead to inflation? Is that because the country can't keep up with production demands?
simple explanation yet very informative and easy to understand. ☺️
Glad you think so!
Can you help me in making a list for import substitution goods . Like is there a criteria by which I can list out items for import substitution for India ?
Thanks for the video😊 now I understand
Hey Sbahle! I'm so glad you found the video helpful! Thanks for taking the time to comment and good luck in your studies!
Brad
...and it usually involves monopolistic state enterprises which leads to corruption, nepotism, inefficiency/misallocation of resources and being at the mercy of popular sentiment.
It's nice and understandable 😇 thanks man
Thank you. Good luck and thanks for watching!
Tomorrow is my viva of this topic?
hmm actually gandhi's noncooperation movement was pre independence movment, it was nehru who made india a socialist country nd introduced ISI, import substitution sabotaged indian GDP till 90's liberalization..is there any positive example for import substitution?
so most countries in east asia developed through EOI whilst latin america chose ISI (eventually leading east asia to overtake latin america), having said that due to usa-china trade war and due to the size of china, if china chose ISI would the same outcome still occur??
sidenote: chinese smartphones are very good now and sell well in southeast asian countries too
China did try ISI under Mao and the results were disastrous. It caused a famine which led to the deaths of millions. Eventually under Deng Xiaopeng, China shifted towards EOI and the rest is history.
Thanks for this
Thank you. Good luck and thanks for watching!
Its really to understand!!
From india🇮🇳🇮🇳🇮🇳🇮🇳
Thank you! Good luck and keep watching!
Wonderful info
So nice of you! Good luck!
I am still a little confused about how it will protect local culture
Finals next week!!!
Everytime you said Nicaragua .... *watch it....*
Thank uh soo much
Live example is Singapore.
Hey Adarsh! So true! Thanks for taking the time to comment!
Brad
am referring to Kenya
thank you ^^
Thank you too
NKOSI SIKELELI AFRICA (AGRICULTURE AND NATURAL RESOURCES)
Sounds stupid tbh... Unless you're Russia or whatever I guess but isn't importing cheaper and better?
we're no longer making our own clothes..we're flooded with second hand clothes
Lisaano Lisaano. Nicaragua
Haha! Love that stuff!