Archive for December 2nd, 2015

Blind adoration of China has paralyzed the West…

December 2, 2015

Any excessive adoration especially of a country/govt is bad for both the adorer and adoree. This has happened over and over again. All the previously idolised and praised tigers turned out to be be meek goats which were eventually slaughtered.

Guy Sorman says similar things are happening with West’s falling over China.

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When India chose a symbol for its rupee, it was more than symbolic value..

December 2, 2015

Gita Bhatt of IMF has a piece on Indian Rupee Symbol in the recent Finance & Development magazine.

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Free markets may manipulate our thinking…

December 2, 2015

Prof. George Akerlof explains his recent book coauthored with Prof Robert Shiller. The book is called Phishing for Phools—The Economics of Manipulation and Deception.

He says free market equilibrium may not be the best thing:

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How Kirloskar fought against impractical Gandhism

December 2, 2015

An abstract from SL Kirloskar’s autobiography Cactus and Roses:

From the moment when, after my return from USA [end of 1926], I experienced my first direct contact with the current political movement in India, I became conscious of the serious differences I had in my thinking, that set me apart from my fellow citizens.

Although by no means deficient in the patriotic desire to see my country free and strong, I had my own views about the right methods of making her so. I regarded such rituals as the weekly Prabhat Pheries, the singing of patriotic songs, the parading of the Tricolour, even the wearing of Khaddar and spinning on the Charkha, in a detached and unemotional way. As I saw it, India’s political aim had already put her economy on the road to progress. The improved yield from farm-land created employment and turned out trained, well-paid workers able to raise healthy and educated children for the next generation, making a solid contribution to India’s economic growth.

…..

These Gandhian idealists seemed to me to be blissfully ignoring not only the facts of past history but also the realities of today. When India came under the control of Britain, it was a case of a country without machines being overpowered by one which had them. To discard machines, go about half-naked, live half-starved and reside in rude huts, would never lift us to the heights of happiness and freedom, but rather plunge us into the depths of misery and degradation. I, therefore, resolved to concentrate on the sound management of our enterprise, build more and still better machines, create more jobs and leave politics to our politicians. I would serve my country and lift her out of poverty and bondage, in the manner, which to me, seemed wisest, best, most efficacious, and most efficient.

Should be an interesting read..

4 themes for upcoming Budget..

December 2, 2015

The hype over Indian Budget is going to build gradually till it peaks in February.

Jayant Sinha, the Minister of State for Finance has kickstarted the proceedings. He says this year the Budget shall be on 4 themes:

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