WZCC-NY HOSTS NATIONALLY DISTINGUISHED ECONOMIST PROF. AMAR BHIDE

- Natalie Vania (Vania-Gandhi), June 1, 2009

May 18, 2009 saw a compelling session at NewYork's WZCC May meeting in Suffern, New York. Amar Bhide, the Lawrence D. Glaubinger Professor of Business from Columbia University, spoke on his provocative book "The Venturesome Economy, How Innovation Sustains Prosperity in a More Connected World".

Central themes of Prof. Bhide's book, "The Venturesome Economy" (Bhide, Princeton University Press, 2008) are summarized by reporter Steve Lohr,

"In speeches and policy statements, Mr. Obama has repeatedly emphasized a need to maintain America’s technology leadership in the world and to invest government funds to do so. ... Two of his favorite proposals ...  are to double federal funding for basic research over the next several years and to train many thousands more scientists and engineers.

But such steps would likely amount to well-intentioned but misguided policies ... ... Mr. Bhidé derides the conventional view in science and technology circles as 'techno-nationalism,' needlessly alarmist and based on a widely held misunderstanding of how technological innovation yields economic growth. In his view, many analysts put too much emphasis on the production of new technological ideas. Instead, he observes, the real economic payoff lies in innovations in how technologies are used. ... (Steve Lohr, "Do We Overrate Basic Research?", NYT, Nov. 29, 2008) "

Prof. Bhide was the special guest of IIT Alumni colleague and WZCC-NY Advisor Edul Daver. Though-provoking questions for our engaging speaker arose at all levels from the audience of nearly fifty people.

We wondered, how are "low-level" or "mid-level" innovators crucial to our productivity or flourishing? How big is the role of immigrant "can-do-ism" in the American spirit? We discussed the positive role of America's venturesome consumer in innovation and touched on our relative over-consumption.

There are as many people in India under twenty-one as the entire US population. Does the sheer volume of early Indian technology adopters incline India towards acceleration of mid-level innovation?

We asked if Zoroastrians have implicit advantages and/or disadvantages from new trends in the evolving global economy? As well, how do American views compare with Indian and Chinese views on doing good for society? Are the US masses "hungry enough" to compete globally, or does our economy "need to get worse before it gets better"?

Do cases such as high-energy particle physics, nanotechnology and mobile info-technology raise concern about American leadership in fundamental science and basic research? Concerns of young professionals arise quickly. Prof. Bhide leads us to ask what kind of educational careers are suitable for USA students and others? What should be the aims of a young scientific researcher? How deep should be the commitment to scientific study in their careers?

How does the young student achieve balance in competitive struggle to establish a research career? Will leadership in creativity and innovation be distributed globally as we compete globally?

Prof. Bhide was impressed with the careful organization of the Chapter as it handled all aspects of the event. He saw how each of the organizers worked together as he experienced an audience of intelligent interlocutors. The Chapter celebrated Prof. Bhide, giving him the inimitable WZCC pin and a copy of Sooni Taraporevala's photographic masterpiece on the Parsi Zoroastrians.

Chapter Chair Arnaz Maneckshana worked tirelessly to arrange this successful event. Committee members Paul Daruwala and Natalie Vania (Vania-Gandhi) moderated discussion. Rusi Gandhi, WZCC World Director, helped drive attendance. A fine luncheon was provided by Sheroo Kanga. Noshir Dutia kindly recorded the event. We were ably aided by Meher and Dinyar Hodiwalla and Vispi Kanga. Hasina and Dinshaw Master also lent their steady assist in the event. The audience included several youth members who are exploring WZCC in their entrepreneurial and professional efforts, as well as our senior professional leaders.

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