Monday, May 09, 2005

moi on rediff.com: 100 million telephones

May 9th

liberalization is good for india. the planning commission is not. it had on it creeps like raj krishna, 'famous economist', whose only claim to fame was inventing the casually racist term 'hindu rate of growth'. as you know, yours truly is now a 'famous economist' because i invented the accurate term 'nehruvian rate of growth', that which the nehruvian stalinists imposed on india all these years, and ae well on the way to achieving again. they will shortly bring down the GDP growth rate to 3% again.

this is like goats. the natural environment for goats is dry, barren, scrubland. wherever you take goats, even if it's a lush meadow, they graze so destructively, by ripping up plants to the roots and hurting the soil with their sharp hooves, that they will turn it into dry, barren, scrubland.

similarly you give marxists and nehruvian stalinists a fast-moving economy, they will convert it rapidly into a 'nehruvian rate of growth' economy. that is the only kind in which they can perpetuate poverty and be the lords thereof. that is the only kind of economy they know.

1 comments:

san said...

Well, Montek Ahluawalia came up with the idea of spending the US$ ForEx reserve on infrastructure. This was at first roundly condemned by economists as deficit spending by the backdoor. But on the other hand, it may have some advantages in that the falling US dollar value (bad for India) will then be converted into hard fixed assets that can't go up in smoke.
South Korea has also been experimenting with such a tactic, and they're not necessarily economic slouches.

We capitalists have to be wary of other capitalists sometimes, due to the fact that capitalist economies do compete with each other, despite the recent invention of globalization. It's a shame that while the left-wingers around the world are largely united irrespective of nationality (Sino-Soviet rivalry notwithstanding), while their opponents on the right are mainly all fractured by nationalism (Anglo-Americanism and NATO notwithstanding)