Praxeology: My Reflexions on India

Many people ask me about what possibly can happen if Indian central bank RBI is abolished or it collapses under its own weight? The following write-up is a brief reply to such important questions. We in the Liberty camp, who talk about doing away with the statist central planning institutions like the central bank, have a responsibility of providing answers to such questions coming from concerned citizens who have lived their whole lives under this statist system and so they can’t think of any viable better alternatives because of their habit of thinking in the present system and their lack of imagination of alternative scenarios. At the outset let me declare that the following discussion is purely a theoretical exercise on this important issue of how to replace the RBI with something better and moral. As we all know, future is uncertain and we don’t know how market will configure itself once the central bank is gone. Notwithstanding this uncertainty, by using sound econo...

  The globalist institution World Economic Forum recently tweeted and then deleted that tweet after a huge backlash, Lockdowns are quietly improving cities around the world. With this heartless tweet all the conspiracy theories about these globalist people, like the leader of WEF Klaus Schwab or Bill Gates or George Soros and all Social media companies like Facebook, Amazon, Tweeter etc.,  trying to push their global communist agenda under the guise of Covid-19 and climate change become facts just like many such past conspiracy theories. It is now a surety that they either invented Covid-19 pandemic or used this episode and manufactured a crisis out of it to further their globalist agenda. This is definitely a highly immoral and criminal act because lockdowns have devastated economies and billions of lives around the world, and now we know they intended this result. This is surely an extremely inhumane act. Now, I can understand their wish and need for a green E...

The Indian Prime Minister retorting against the noisy opposition in the Parliament and making a strong pitch for the privatization drive of his government in the latest budget said , Wealth creators are also important for the country, only then wealth can be distributed. How can wealth reach the poor, how can jobs be created, the PM asked. If the public sector is important, so is the participation of private enterprise. Should members of the IAS alone be tasked with everything? Have we entrusted the IAS with running fertiliser factories and chemical enterprises? Then they are supposed to fly planes as well. What type of capability have we acquired by handing over the country to babus. Babus belong to us and so do the youth. The more opportunity we give to our youth, the more he will benefit. By and large I agree with what the Prime Minister is saying about the importance of private sector. But then the most important thing here is, whether he is also walking his talk wit...

  What happened in New Delhi on the day of Republic Day was very much expected. The way in which both parties, especially the government, are not listening to each other’s super charged emotions and needs, violence is guaranteed. If the Indians want peaceful resolution of this farm bill conflict then they will have to sit down on table and carefully and honestly listen to each others’ needs. Calling names, accusing each other of wrongdoing etc., is only going to result in a war. A non-violent and peaceful solution of any conflict requires that both parties first understand their own feelings and needs behind those feelings and then carefully observe the same of the opposing party. And then a process of clear-cut precise communication of these needs and what is being requested from the other party to fulfill those needs must take place. Only when there is this compassionate peaceful communication between the conflicting parties, there is any chance of negotiation and...

  Politics is like a team sport where you support your team no matter what it is doing. There is no logic involved in supporting your team. It is a matter of emotions. It is a matter of being loyal to your team. People who are supporting Narendra Modi or BJP party or India as their nation are not irrational. Nobody is irrational when we look at the matter from the perspective of individual’s subjectively chosen ends and means i.e., human action. Mises said, Human action is necessarily always rational. The term “rational action” is therefore pleonastic and must be rejected as such. When applied to the ultimate ends of action, the terms rational and irrational are inappropriate and meaningless. The ultimate end of action is always the satisfaction of some desires of the acting man. Since nobody is in a position to substitute his own value judgments for those of the acting individual, it is vain to pass judgment on other people’s aims and volitions. No man is qualified t...

What happened in New Delhi on the day of Republic Day was very much expected. The way in which both parties, especially the government, are not listening to each other’s super charged emotions and needs, violence is guaranteed. If the Indians want peaceful resolution of this farm bill conflict then they will have to sit down on table and carefully and honestly listen to each others’ needs. Calling names, accusing each other of wrongdoing etc., is only going to result in a war. A non-violent and peaceful solution of any conflict requires that both parties first understand their own feelings and needs behind those feelings and then carefully observe the same of the opposing party. And then a process of clear-cut precise communication of these needs and what is being requested from the other party to fulfill those needs must take place. Only when there is this compassionate peaceful communication between the conflicting parties, there is any chance of negotiation and findi...

Indian farmers from the state of Punjab, Haryana etc., are up in the arms against the Narendra Modi government for their recently passed Farm Acts. This has generated a lot of discussion in India. Mises India Institute President Dr. Madhusudan Raj sat down with Mr. Yohan Tengra of Anarchy for Freedom India to discuss these farm bills from the perspective of Liberty, which no one is discussing right now. Below is his interview.