Thought for the day
“I've had a few arguments with people, but I never carry a grudge. You know why? While you're carrying a grudge, they're out dancing.”
-Buddy Hackett (American 1924-2003)
-Buddy Hackett (American 1924-2003)
Word for the day
Puerile (adj)
Childishly foolish; immature or trivial
(Source: Dictionary.com)
Teaser for the day
What is wrong with “Vote Bank” politics?
Necktie and plastic chappals
It is heartening to see that an effort is being made to divert
the election debate to substantive issues like inflation, employment,
development and growth from mostly redundant issues like communalism and
dynastic politics.
Though the economic issues are being raised mostly to besmirch
each other and not to debate the pertinence of economic policies of various
groupings to the current context, it still is better than personal slandering
and mudslinging.
I firmly believe that there is little to distinguish between the
core economic policies of UPA and NDA; though NDA perhaps has a better
implementation track record to showcase.
“Crony capitalism” is at the core of the whole debate. Congress
and BJP have accused each other of pursuing crony capitalism. Communists and
neo socialists (e.g., BSP, TMC and AAP) have accused both the national parties
and the supporting (traditional) socialist parties as well for promoting the
cause of a few at the expense of 1.26bn Indians.
I believe that the debate is completely misdirected, for (a) it
leaves the biggest scam out of the purview of debate and (b) it does not focus
on “crony socialism”, which to my mind has harmed the country more than
anything else.
Maintaining the negative real rates for households (household
inflation minus term deposit rate) for a long period is the biggest scam
perpetrated on the poor people of this country. The inflation tax, as I call
it, paid by poor and middle class savers for cheaper financing of “crony
socialism” and unscrupulous businessmen, has caused tremendous damage to the
basic fundamentals of the Indian economy.
It has resulted in wasteful public expenditure, misallocation of
capital, and unsustainable economic growth that is visible only in the
statistics. Not many social and qualitative indicators corroborate the kind of
growth politicians from both sides of the fence are claiming to have delivered.
For years, poor and middle class households have probably funded
almost the entire subsidy bill of the government through this inflation tax.
Whereas it is common knowledge that large part of subsidies has historically
gone to enrich a few. For records Rajiv Gandhi put it at 95%. Current claims
range between 80-90%.
“Crony socialism” is a term I often use to define the Congress
brand of election focused socialism, now pursued by almost all the political
parties. The best way to understand the term you need to see a typical
municipal school child in Mumbai or Delhi wearing a worn necktie, torn shirt,
and plastic or rubber Chappal.
Politicians and administrators have sought to achieve the
equality between government and private schools by prescribing a necktie as
part of uniform for poor kids who cannot even afford a pair of canvas shoes!
In my view the debate should be on “how to improve the level of
education in government schools” and not on “who is the supplier of the
neckties”.
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