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"Two Lucky People"



This is a must read: The chapter No. 18, "Assignment in India," by Milton
Friedman, in his 1998 book called "Two Lucky People" about which I cited
the Newsweek report a couple of months back. 

Turns out that Mahalanobis was the classmate of Nehru in Cambridge.
Bhagwati/ Friedman had no chance with that combination, tho' Friedman had
been sent to advise the FM of India by the International Coop
administration of USA. Friedman talks of Prof. B.R. Shenoy very highly.
Must try to read Shenoy. 

He also mentions how Subroto Roy was the first Indian (by the way, Roy is
a member of the International Indian Econ. Association I had promoted,
separately: hopefully it will get its own domain and registration soon) to
try to get Friedman's 11 page memo (of 1955) published in - guess - 1992! 
By the way, Prof. Roy had requested me to check out the reference to him
by Friedman. I must say, I am very impressed. We do have some great Profs
in India. I'll write to him at once.  We must have people like him come
forward in India. I will spare no effort in trying to get him to sign up
on IndiaPolicy.

Next step: To get hold of that memo. Dear Parth: do you know where it is
to be found? Can we post a copy of it on the IP website?

Please do read this chapter somehow: it is superb. I like to read about
such things and how we went about like fools relying on the mathematical
sophistry of Mahalanobis who - despite being a great statistician - had
ABSOLUTELY no clue about how an economy actually runs. Friedman berates
him and cites a simple passage from Adam Smith which clearly was not
either read or understood by our "Great" planner. Makes me more and more
clear that we must reform the system at once. 

It is not a theoretical debate now. It is an empirically established
system change we are talking of. Why are all Indians still sleeping?
Change, I say!! Get up!!

SS


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