Incomplete Thanksgiving

A write up by Kaushal Majmudar (settled in United States of America since age 5) with the backdrop of Thanksgiving day covers many thing except the key one.

The write up : True Wealth Is Far More Than Just Financial Success

A small section of the write up is reproduced below:

When I was a child, at the age of 5, I moved to the United States from my native country of India.  We initially came to Jersey City, New Jersey located across the Hudson River from Manhattan, New York and our first residence was a modest 1 bedroom apartment in a brick tenement building where my sister and I shared a pullout couch in the living room. 

Our eat-in-kitchen was smaller than my current master closet.  I am told that my initial reactions to my adopted country (it was winter when we arrived) was to repeatedly ask my parents when we were going to go back home.

Fortunately, we didn’t go back “home” though my 5 year old self would have wanted to do so if it had been up to me, at least initially.  We were immigrants who left India, like many others, with the hope of more opportunities and a better life in the United States. 

Having just arrived from a relatively poor and more bureaucratic (some might even say corrupt) system, my parents and family had very little in terms of transferable financial wealth that we could bring with us.  Fortunately, my parents had some education, but they were essentially starting from scratch in their mid 30s, with two young children.

Now the missed out ones:

1. Who manages to migrate from India to America in early 1970s with some education?

A: An Indian who has graduated from IIT / IIM / any other premier institutes in India.

2. Who gets a chance to educate in IIT / IIM in 1970's / or migrate from India with some education?

A:  Majority of the students graduated during 1970's in IIT / IIMs or any engineering / medical colleges came from well to do family in India  i.e. the 1% elite of India.

Especially during the high poverty rate in India during1960's.

Poverty in India:

Estimates of poverty in India during the 1960s varied widely. Dandekar and Rath, on the behalf of then Indian government, estimated that the poverty rate in 1960s remained generally constant at 41%. Ojha, in contrast, estimated that there were 190 million people (44%) in India below official poverty limit in 1961, and that this below-poverty line number increased to 289 million people (70%) in 1967. Bardhan also concluded that Indian poverty rates increased through the 1960s, reaching a high of 54%.

Further, 1971 census stated that male literacy rate was 45.96 and female 21.97.

3. Who set up this IIT / IIMs / other premier institutes in India?

A: I will borrow from the write up a relatively poor and more bureaucratic (some might even say corrupt) system i.e. Indian Government. Since his father got educated in one of these elite education institution in India set up by poor and more bureaucratic system, he could leave India with some education.

The author has not mentioned:

• What was the qualification of his father in late 1960's.?
• What was wealth status of his family (father) in 1960's?

Answer to above two questions will help author to connect with India and appreciate what Buffet calls " Lucky Sperm Club".

Author could have avoided portraying:

• India a poor and corrupt system.
• Staying back in America was fortunate than going back to India.

Author could have:

• Thanked his parents for being Indian as Indians have valued education very highly and he was immensely benefited by it.