Sunday, January 5, 2014
WE ARE LED TO BELIEVE
that socialism and a government centric approach to the economy in India did absolutely nothing FOR 43 YEARS and then magically in 1991 it suddenly started to bear some fruit. Never mind the fact the inspectors regime was thrown out, the quota system was abolished, the License Raj system was ended, the exchange rates were liberalized, the public sector disinvestments began, the insurance sector opened up, the telecon sector opened up, restrictions on trade were reduced, tax reform was enacted, etc.. No sir, it was all a big, fat, juicy delayed reaction to massive regulation and some bureaucratic wisdom. Gotta love it, huh?.....................................................................................Here are some actual peer-reviewed journal articles, folks. I could have easily given you a 100 but I think that these are probably sufficient enough to convince you that economic liberalization in India, while, yes, it was far from perfect and probably didn't go far enough, in fact did exist and is only a myth in the minds of the insane - 1) http://pubs.aeaweb.org/doi/pdfplus/10.1257/app.2.4.1 - 2) http://www.sciencedirect.com/science/article/pii/S0305750X99001321 - 3) http://www.saycocorporativo.com/saycoUK/BIJ/journal/Vol5No1/Article_12.pdf - 4) http://www.academicjournals.org/article/article1379330576_Shastri%20et%20al.pdf - 5) http://www.isid.ac.in/~pu/dispapers/dp11-13.pdf - 6) http://www.palgrave-journals.com/ces/journal/v41/n4/abs/ces199917a.html - 7) http://parthjshah.in/node/576 - 8) http://www.articleseen.com/Article_explaining-economic-liberalization-in-india_56101.aspx - 9) http://muse.jhu.edu/login?type=summary&url=/journals/sais_review/v018/18.1timberg.html
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6 comments:
That explains why everytime I call
insurance or finance I get "Chuck" in Mombai.
We all joke about talking to customer service in India,but I think we would all admit that 9 times out of 10 they solve our problem.
Philippines are getting some of our back office activities as well.
Heave Ho...
Will, I was going to respond to your comment about Obama not being a socialist over on Les's blog, but his blog is down right now. I wanted to mention that he has the "heart" of a socialist as well as a crony capitalist. If a heart is what you can call it, as a socialist's heart is very Grinchy-small.
Obama, definitely a left-liberal, and a progressive also (as indicated by his Senate voting record), has had to deal with reality since becoming President. He does indeed hold some extreme views and intent to put them across, even if the nature of his position doesn't let him do that very often.
As recently as 2009, Obama has said that if he had his way, he would have government completely take over healthcare ("single payer"). Definitely an example of ill intent, megalomania, and yes, socialism on his part. His own "Obamacare" bill, more recently, which he DID sign, contained a provision to take over and wreck student loans (also an example of socialism).
And yes, of course, he is a crony capitalist as well. It sort of illustrates the corrupt and hypocritical nature of the hard left/progressives. They hate capitalists unless they are in bed and in an unsavory relationship with them.
Will, do you think Obama is at heart a moderate, and similar to the actual pragmatic, moderate politicians you have applauded here?
Sorry, this is off topic. But I am sure you've had worse...
I see that Rusty lacks the racial prejudice against India Indians that so many have.
I think that Obama is a mixture progressivism and pragmatism. In his heart he probably wants the U.S. to be more like France and Italy but he also wants himself to have a successful Presidency and so I'm not entirely certain which side would win out in the end. Me - I'm obviously pulling for the pragmatist (a la Bill Clinton, Dwight Eisenhower, etc.) Obama.
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