On Shoddy Journalism, etc.

The Economic Times asks a question today that is utterly befitting an ignoramus: “Is war the way out of a recession?” If widespread destruction is a good idea, why go to war? Why not just advise everyone to blow up their homes and build them again? Smash your cars and televisions, folks, and buy new ones. What utter duds!

Barun: Please send The Essential Frederic Bastiat to the editors of ET with my compliments. They need instruction in the “broken window fallacy.”

Yet, the news emanating from our The State indicates the crying need for good economic journalism. Our The State is up to no good as usual.

For one, it is giving sweeping powers to its misproductive bureaucracy. Now, you can be jailed for not supplying correct data to a government baboo. Good economic journalists should read Murray Rothbard’s short article against government statistics. And call for the shutting down of this useless bureau.

Then there is the Delhi sarkaar with its new proposals for taxing cars, imposing a congestion fee, hiking parking charges, taxing the use of the Noida expressway and so on. The “plan” is to improve the buses. But why do we need government buses? Or do we need world-class roads, designed for the safe and speedy movement of cars? – upon which we already pay huge taxes. We already pay a huge cess on petrol and diesel, dedicated to the Central Road Fund. And cannot more revenue be generated by allowing the free retailing of alcohol – instead of this ghastly State monopoly? What about taxes on gambling? Or erotic dance? Or cannabis indica? Why restrict your taxes to the Tata Indica?

In reality, these taxes will be swallowed up. A rumour I heard on the street is that the chief minister’s son is pretty big in the bus business. The Bus Rapid Transit Corridor near my house is a disaster, the perfect example of “planning failure.” Indeed, both the Ring Road and the Outer Ring Road are disasters. And they want to impose higher taxes on cars!

They want to ply buses. They license the autorickshaws. They build these ghastly, unsafe roads. They sell the booze. They teach the kids.

We need economic journalists who can see through their dastardly schemes, and raise loud shouts against the establishment.

Of course, economic journalists should also possess an exact understanding of money. It seems that the simple people of Kerala have just that, an innate sense that only gold is money. Kerala is a huge market for gold.

There is also an interesting article by a senior Indian Muslim politician on how the Pakistani State spreads hate propaganda against India through its textbooks. This should serve as a warning to us in India. Our The State cannot be allowed to occupy the commanding heights of education. Indeed, no government on the planet should be allowed to do so.

Knowledge Must Be Free.