Sonia, Manmohan And "Indian Economics"

New Delhi: June 9, 2008: 0800hrs
Why did Sonia Gandhi choose Manmohan Pyarey as PM?

The answer, according to me, is as follows:

Sonia believes that the most important function of her government is to “run the economy”.

Thus, an “economist” is the best choice for PM – a position that also involves chairing the Planning Commission.

This is her “instinctive error” – an instinct honed by Congress economics – better known as “Indian Economics” to school and college students.

This is an error according to us liberals because we believe the “command economy” to be wrong-headed in the extreme.

The government is not set up to command businessmen.

It is set up to catch crooks, build roads and not much else.

Because of this error, while half of the country is being overrun by armed Naxalite rebels, while Manipur remains under martial law, while armed insurgents run Nagaland, and while Kashmir is far from a stable peace, Manmohan’s government has decided to teach the unlettered, employ the unemployed, and waive loans given to insolvents. And not much else.

Thus, theory matters.

Wrong theories lead to wrong practices.

Another reason to throw out the “Indian Economics” textbooks.

Teacher Manmohan, Leave Those Kids Alone!