Praxeology: My Reflexions on India

Last Tuesday the central bank of India, RBI, announced its much awaited last quarter monetary policy. The present governor of RBI Dr. Raghuram Rajan was under tremendous pressure of his Delhi masters to reduce the interest rates. Not disappointing his masters, he reduced the repo rate by a big 50 basis point . Raghuram Rajan has an image of an "inflation warrior"; a "monetary-policy hawk"! He is quite famous for his so-called "anti-inflation stance". People think that he was at loggerheads with his Delhi masters, especially the finance minister Arun Jaitley. Many well-known international investors have praised his stubbornness to reduce the interest rate; many even thought of nominating him for a "Nobel Prize" in economic science (it is a different matter that there is no Nobel Prize in economic science; the present prize is given by the Swedish Central Bank in the memory of Alfred Nobel!). So, is Raghuram Rajan an "inflation warrior...

Since Narendra Modi and his BJP party's Hindu nationalist government has come to power in Delhi last year, there is a relentless onslaught of Sanskrit language education and India's glorious past's propaganda. Modi government's education minister Smriti Irani has, so far, forced Sanskrit language teaching on the Kendriya Vidyalaya schools displacing the learning of German language (see here , and here ) against the wishes of many parents (see here ). BJP's home minister Rajnath Singh said that, Sanskrit is most useful for science, technology! (see here ) In this speech he can be seen disparaging English language. BJP/RSS Hindu nationalist also hijacked the recent 102nd Indian Science Congress (see here ). In a Science Congree, they presented a paper titled ' ‘Ancient Science Through Sanskrit’ with other papers on mythical planes capable of inter-planetary travel and unproven claims of scientific breakthroughs in pre-history! So, is Sanskrit language and ed...

The state of Gujarat again, after a lull of few years, erupted in violence in the form of caste related riots last week. The Patels (Patidars, a mainly land owning caste in Gujarat) are agitating for reservation status under the leadership of a young but confused Mr. Hardik Patel. There are many lessons that we can learn from this past week events. I will discuss them one by one below. Firstly, I above said that Mr. Hardik Patel is confused. I said it because his agitation for reservation status is based on wrong ideas. The real struggle in society is not between Patidars and other OBC caste or SC or ST or Open cateogry caste. The real struggle is not between Hindus or Muslims or Christians etc. The real struggle in not between Rich or Poor. The real struggle is between, the tax paying class of the society and the tax consuming class i.e., The Tax Payers and The Tax Consumers . Nineteenth century American political philosopher John C. Calhoun identified this struggle very ...

Last week the Chinese central bank PBOC (People's Bank of China) devalued their currency Yuan, which created kind of a earthquake in the international markets. Immediately after that the Indian rupee started weakening against Dollar. In my latest economic report I discuss why Chine decided to devalue their currency, and what impact this move will have on the Indian and World economies.

Greece is in a big trouble. Their government lost their sovereignty to foreign creditors after they were bailed out by them for the third time! This is not a fix of this problem, but only kicking the can down the road by politicians. One day, in future, Greece government will have to repay their debt one way or another. The bankruptcy and insolvency of the Greek government is a global phenomenon. Many world governments are heavily indebted and they will get into big troubles in future. In my latest economic report I discuss the Greek problem, its implications and a possible solution.

As I have mentioned elsewhere, the modern nation state societies in which we all are living are not more than 500 or so years old. If we study the human societies around the world then they exhibit different organizational patterns, and the state is only one of these various organizational patterns. People who are living under these nation states might feel as if the condition in which they find themselves today is present since time immemorial. Many a times, during discussion with various people about the future Anarcho-Capitalist society which will be without any nation state, I frequently hear, that the state has always been with us since the beginning of time, and it is never going to go away; we have to live with it, and tolerate its exploitations! These people don't know the human history. The real question for us to understand today is, how the first original states came into being? Whether the nation state is with us since the beginning of time? In this article I will expl...

After the sweeping election win of Narendra Modi and his Hindu nationalist BJP party last year, there is a barrage of Hindu propaganda coming from Modi and his government about the so-called glorious past of India and the sacred Hindu culture. Hindu fundamentalist forces, under the tutelage of Modi and his government, are busy attacking the Muslim and Christian minorities while BJP's backers, the RSS, wants Modi government to declare India as a Hindu nation ! BJP governments in various states like Maharashtra and Haryana have gone so far as to ban the eating of cow beef totally saying that for Hindus cow is sacred. The myth of India's Holy Cow  perpetuates and gives a (phony) justification to such draconian measures of these state governments. What I want do in this brief article is reveal the reality of the  Hindu Holy Cow . I will present the underlying cause of this old Hindu ban/taboo on eating cow beef. What factors are driving this ban? How and when this ban origin...