Friday, December 5, 2008

My reading at 12.18 Am!!

Anarchic capitalism vs. sensible capitalism by Prabhudev Konana, The Hindu. 

It is important to note a few paragraphs from Konana piece. 

  • “The perfect storm of incompetent management, dogmatic unions, and imprudent regulations on bio fuel and mileage standards has now resulted in an economic nightmare. 
  • Still sensible free-market capitalism is the most desirable system for wealth and job creation. While many, including me, have criticised India’s growth in the last two decades as one-sided development, the fact remains that millions of new jobs — some of which are very high-paying jobs — were created. There is passion and excitement among the educated class. It is disingenuous to assume that liberalisation and free-market principles are bad. However, any criticism should be on the government’s heavy handedness in violating the private property rights of farmers, heavily subsidising industries, and excessive preference to some sectors while ignoring infrastructure and neglecting education and healthcare for the underprivileged sectors. 
  • There is a role for the government to facilitate economic activities with sensible regulations. Regulations play two important roles within a capitalistic system.  
  • The economic ideologues at the extremes are harmful to any nation. India’s potential was trapped for decades by intense protectionism. Capitalism has unlocked that potential and is still the best path to prosperity”. 

The law is made by gathering some narrow view about individual citizen of country-one size fits all. These law makers are often stupidly called experts in government. What sensible law one can expect from these lawmakers who themselves think they are the big law for even one - BIG Government?

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