Last week prime minister Narendra Modi launched his economic scheme of "Make in India" with a big fan fare. In my latest economic report I disentangle this scheme.
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.
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...
Since last time when I wrote my blog on India's political corruption, there has begun a huge new anti-corruption movement under the leadership of Gandhian Socialist Anna Hazare . Since many of my students asked me about my opinion on this issue, here I am presenting my thoughts on this whole Anna Hazare movement and its Jan Lokpal Bill. As I said in my blog on how to kill corruption , without removing the system of State with its politicians/bureaucRats it is impossible to remove the corruption from this or any other country. If people think that by introducing the Lokpal bill they are going to see the back of corruption monster then they all are day dreaming. Such naive thinking is a result of years of pro-State brainwashing in State controlled schools. I also wonder how many people have actually read the Jan Lokpal Bill before joining Anna Hazare and his movement. If they have not then I strongly advise them to do that first. The bill is suppose to give immense powers to the...
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