Thought for the day
“Morality is simply the attitude we adopt towards people
whom we personally dislike.”
-
Oscar Wilde (Irish, 1854-1900)
Word for the day
Slake (v)
To
allay (thirst, desire, wrath, etc.) by satisfying.
(Source: Dictionary.com)
Teaser for the day
In AAP wherein lies the problem – the Idea itself;
implementation; or the current leadership?
If it is the Idea, scrap it. If it is implementation fix
it. If it is leadership change it.
Economics, accounting and morality - II
Continuing from yesterday (see
here), I would like to humbly submit to the finance minister that even
small investment in a tiny business usually takes 3-5years to show results. The
higher growth during FY04-FY08 was certainly the outcome of reforms and
investments that took place in the preceding decade. The credit therefore does
not belong exclusively to Congress (or UPA for that matter). Similarly, the
downtrend seen since FY08 may not be entirely a folly of UPA government.
However, if you want to take credit for higher growth, for which
you did nothing to achieve, you cannot escape the blame for the current
disastrous state of the economy.
The fact of the matter is that the long term growth is trending
down since FY08 and UPA–II has done little to stem the fall till recently. Few
concrete steps have been finally taken during FY14 which will yield results in
next 4-5years.
If you claim credit for NDA initiated projects like Delhi Metro,
highway projects, etc. you should be prepared to see someone else claiming
credit for nuclear power, GST, DTC and FDI in retail trade.
This is the feudal brand of democracy, where the ruling party
claims credit for all good that takes place during its tenure. Congress
claiming credit for Delhi Metro is a classic example. It’s like a landlord
claiming credit for a good crop, even though he has not even seen the field
from which that crop was harvested.
As I said yesterday, it is the accounting of economics, not the
economics itself. And morality does not have even a remote connection to it.
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