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Aha! One more attack on good sense

I am perpetually amazed. How is it that this man called Marx, dead so long
ago, cannot ever leave us in peace in India! He is born again and again in
various avtaars. He wrote one essay on India which I think (I might be
wrong here) somehow spawned this "dependicia school," with its roots
somewhere in an imaginary world.

Just finished reading a completely misguided article, full of wrong
statistics and wrong conclusions, as an Opinion in Hindustan Times. Check


	by Ash Narain Roy

Let me point out some of the atrocious statements, just to illustrate how
these folk distort reality to the hilt.

* "But is the world a better place? Has free market capitalism brought
... prosperity to all corners of the globe?"

Prosperity - Amazing distortion of data! Of course!! free market
capitalism (if and wherever practiced) has brought enormous prosperity.
Data are resounding on this basic correlation. 

* "As more and more countries are suffering from global market meltdown
and currency volatility,"

Unbelievable!! a "global melt down" is taking place, according to Roy. A
meltdown of India is surely taking place since the last 50 years (before
that I am ignoring its economy since India was not independent). But the
globe? Never saw any trace of it anywhere! "currency volatility" - whose
currency is volatile? That of USA? And what is the alternative? Fix all
exchange rates for ever till the entire world gets distorted? Why are
people afraid of fluctuating ERs?  Daily stock market movements are also
representative of volatility. Is that something bad? Markets will always
lead to volatility as they absorb new information. That is the process of
price formation. 

* "In the last 500 years no country has achieved high levels of social and
economic development following a road of dependency and subordination to
external forces. There is no such thing as subordinated development."

There was no difference in the development of nations 500 years ago. All
nations were roughly at the same level of development. Then, 250 years
ago, the Industrial revolution began and the differences began to mount.
Mercantalism gave way to laissez-faire. The USA, which gave itself the
most free-enterprise Constitution ever devised by man, steadily began its
inexorable climb to the top of the world. The US had hardly any colonies.
It did not need to "exploit" the rest of the world to reach where it is
today. {sure, it was 'lucky' in getting resources, but USSR also has huge
resources, as has Bihar and India in general. It was the system that made
the difference.}

About the other part: no nation can succeed through subordination. Of
course, that is obvious. But is it the claim of Mr. Ash Narain that India
has been subordinate to someone in the past 50 years? Then why is India
worse off today (in comparison to its position vis-a-vis the USA) than it
was 50 years ago, just to take a simple example? Nations do not need
colonies to grow rich. Nations need free-enterprise. And its corollary:
free-trade (to the extent possible). Data is clear beyond any iota of
doubt on these basic trends.

I am really getting sick of the misinformation being dished out to Indian
readers by these so-called 'intellectuals' of India. When will correct 
facts and positions be shown to the people? 

Will people on this list please start writing "Opinions"  for the Indian
newspapers and launch a blitzkreig against this gross misinformation
campaign that has been running in India for the past 50 years? We cannot
let these Ashes and others get away with murder. They are ruining all hope
of the revival of India. First the arguments that "economic reform causes
corruption," and now, "free enterprise causes poverty and inequality." 

The poor Indian reader is totally confused in the absence of strong and
focused attacks on this false propaganda. 



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