That’s what 70/80s & Mr Singh’s regimes are about.

Every single time you see a previously scarce commodity turning plentiful in these boom times, you notice this sector has had much less government than it used to. I don’t know how those seeking government “protection” reconcile with this observed fact.

There was a mention of Mahatma above as inspiration for our socialists. He was way too smart guys – he wanted decentralization, your socialists wanted centralization (hence power).

Someone quoted a Manmohan Singh homily above: “greatest asset of India is IITs/IIMs”. That’s why he wants them killed with more admissions on the basis of (OBC) birth rather than competence!

Get it right, Guys. Singh clicked last time because there was an N Rao who understood politics. No such protection now – & you see him helpless. Incidentally, Singh was also high official during our worst socialist days – including as RBI governor.

Another comment above: “You really think the West would actually be fair to India in trade and liberalized economy and help it grow?” Why the hell you expect them to – then or now? The booming sectors are there in spite of any help from either West or local govt.

A comment on Lalu above: “vanity of indigenously produced”. Friend, it’s nothing to do with vanity. May be a bit of incompetence. But mostly it’s about power & corrupt money. Our railways kill a half dozen people DAILY in B’by alone! You feel lucky to have got a ticket 2 months in advance – & railways get to enjoy your money for 2 months for free! You expect sane public spirited behavior from them?

You really think the West would actually be fair to India in trade and liberalized economy and help it grow? Take a look at the post on using Indians guinea pigs for medicines. That’s all the Western business cares about India, if unchecked, as a dumping ground and as a lab for their dirty work.

No, I’m not a Nehru apologist and stuff. (and seven-six, any rude comments and you’re gonna start a flame war here . But I think at this point we are at a better position to do business with the US and still hold our own.

In india there are so many corrupt politicians and politics that you see many trying to find a “galt gulch” to hide and survive… Most private companies in india do well than govt. institutions because these private companies have their own “galt Gulch”

But unfortunately govt. institutions get a first preference over most contracts when a job has to be done. If govt. organisations cannot do the job they go to private companies within india ( like bihar railways) and when they realise its mission impossible to handle the job then they look for foreign companies. This whole process goes in that order and thats why it takes a long time to get things done in india..wish they realise their limitations and outsource the job if they cannot manage it inhouse and save time and waste of money…

I don’t think many thought in Randian terms explicitly but the immigrant “I will succeed on my terms” mentality certainly correlates.

I do agree with that. I also believe unless a lot of pressure (internal and external) is put, India will not free itself of license raj that easily.

Peace.

I don’t think many thought in Randian terms explicitly but the immigrant “I will succeed on my terms” mentality certainly correlates.

One can participate in markets, capitalism, etc., for ex., without necessarily thinking of it in “Adam Smith” terms.

Or for a micro example, the way that traffic >> regulates itself on Indian roads. Now if only >> the government would learn to respect that >> cultural strength – building a decent infrastructure, providing a few basic services, >> and otherwise getting the hell out of the way.

Definitely, chaos is our blood and we should use it to our advantage.

There’s probably some truth to that. Central planning doesn’t seem to suit the culture very well, but the culture does seem to have a good knack for thriving in chaos. Just look at the IT/BPO industry. Or for a micro example, the way that traffic regulates itself on Indian roads. Now if only the government would learn to respect that cultural strength – building a decent infrastructure, providing a few basic services, and otherwise getting the hell out of the way.

Btw, anyone who suggests that Nehru’s approach to economic development was the same as that of the Japanese – or the South Koreans or Taiwanese, for that matter – is speaking from a position of ignorance. To see what I mean, just compare the GDP growth rates of India and these countries during the Nehru years and afterwards. While the now-prosperous states of East Asia may have engaged in some protectionism and provided state support for favored businesses, they also had a respect for the private sector, low taxes, flexible labor laws, and (relatively speaking) limited regulation and free trade that Nehru, Indira, and the Marxist tools surrounding both of them clearly lacked. Not to mention that these countries preferred to spend government funds on building a modern public infrastructure than on populist social welfare boondoggles that mostly enriched corrupt politicians and bureaucrats.

Yes, Nehru does deserve credit for the IITs. Too bad that his economic policies, along with those of his equally idiotic daughter, guaranteed that many of the brightest products of these colleges would leave for greener pastures.

Looking at recent developments, with privatization and labor reforms being halted and the government committing itself to a massively wasteful rural employment scheme (passes with unanimous support in Parliament), it seems that the bad old days aren’t entirely over.