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Narendra Modi: An Extraordinary Popular Delusion

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I was recently reading Charles Mackay's famous book, Memoirs of Extraordinary Popular Delusions and the Madness of Crowds , which discusses some of the major popular delusions like the Mississippi bubble, the tulip mania, the south sea bubble, the alchemists, the witch mania, crusades etc., of the known human history. These popular delusions exhibit a kind of madness of crowd which we see every now and then in all ages and at all places wherever human beings are present. The evolutionary brain, which has primed human nature for a kind of herd behavior, is the root cause of this phenomena, but I won't discuss this matter at length here in this post. I want to focus on one such extraordinary popular delusion and madness of crowd type of episode which is right now on-going in India. This episode is of the cult of the popular chief minister of Gujarat, Narendra Modi. The crowd is in frenzy re his name. Many deluded people want him to be the next prime minister of India and rescue t...
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Austrian Economics in India

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Recently I sat down with Mr. Jayant Bhandari - Jayant Bhandari is an investment adviser, particularly in the natural resource sector, living in Canada. He advises institutional investors. -  to discuss India, Gujarat, Narendra Modi, Liberty and Austrian Economics in India and other such relevant issues. The following is the audio podcast of our discussion.
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Broken Promises: How RBI and Indian Central Government is Cheating Upon its Citizens

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Indian central bank RBI ( Reserve Bank of India ) and the Indian Central Government is cheating upon its citizens by breaking their promises. What promises the RBI and Indian government have made to their citizens which they are breaking? To get the answer of this question we need to analyze the currency note printed by RBI and guaranteed by the Central government. Below is a scanned picture of 100 rupee note. The orange circle contains the text of the promise made by the RBI governor to the bearer of that note. The text reads: I promise to pay the bearer the sum of one hundred rupees . Below the text there is a signature of RBI governor D. Subbarao. 100 Rupee note printed by RBI and backed by Indian Central Government The yellow circle contains the text of the government backing of this note. It reads: Guaranteed by the Central Government . As is evident in the RBI currency note, RBI and the government have made a promise to pay the said sum (in this case 100 rupees) to the b...
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