tag:blogger.com,1999:blog-19649274.post2003558083973339038..comments2024-03-29T12:03:50.891+05:30Comments on The Leap Blog: Will globalisation come apart?Ajay Shahhttp://www.blogger.com/profile/03835842741008200034noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-19649274.post-1528255262566789492008-09-23T07:59:00.000+05:302008-09-23T07:59:00.000+05:30New US = old S.U ?The economy of the new US, with ...New US = old S.U ?<BR/><BR/>The economy of the new US, with state-sponsored bailouts and all, has quite some resemblences to the old Soviet Union.<BR/><BR/>These are amazingly bold bailouts, extremely hard to explain to the stakeholders (the tax payers, it is public money!). Except that in autocracies no explanation is needed, or things are presented as fait-accompli.<BR/><BR/>We live in interesting times.<BR/><BR/>And why is India largely spared from this crisis ? Because of RBI regulators who withstood the clarion call of market-popular politicians like Chidambaram and other vested interests (market intellectuals included). It proves that there is no substitute for good governance. Learn this lesson well, India!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-49055757621921460822008-09-10T13:18:00.000+05:302008-09-10T13:18:00.000+05:30I am not from finance background, still .. let me ...I am not from finance background, still .. let me make an attempt to comment here.<BR/><BR/>I believe, the concerns raised after Georgia war are mainly because of political reasons. Why there was no such concern when US attacked Afghanistan or Iraq ? US and team largely dominates the world media at this moment. This is just another move to oppose Russia. For US and team, globalization is just opening new markets for their products. They are also under threat when any economy like china tries to become superior and take complete control. They just can not allow it.<BR/><BR/>About Indian scenario, after independence we adopted a combination private and free economy. Although we declared ourselves neutral during the cold war, we were clearly under the dominance of Russia. Hence we had more controlled private sector. After Rajiv Gandhi's policies, we are slowly entering into free economy. We are competing with the global market players in India as well as abroad.<BR/><BR/>A complete free economy, free market is not good for India as there are several classes which require substantial help from government to establish themselves. It is must for the government to provide them basic facilities so that they come at normal level and compete with others. However, complete government control is also bad as it stops individual progress overall.<BR/>I feel, what we are doing is correct, but it needs to speed up the overall process. May be a CEO will be able to do it better than a politically elected leader.<BR/><BR/>And I do not agree with <I>One pillar of liberal democracy - intellectual life in the universities - has run steadily downhill for the last 50 years.</I>. Right now we can see lots of Indian names on global slate. Almost all of them have done their education from India. Its unfortunate that we couldn't provide them platform to shine. But some of them created the platform for themselves.Some Little Greenshttps://www.blogger.com/profile/10649055268640534998noreply@blogger.comtag:blogger.com,1999:blog-19649274.post-87474610125840466012008-09-10T09:28:00.000+05:302008-09-10T09:28:00.000+05:30Ajay,You have missed the effects of rising income ...Ajay,<BR/><BR/>You have missed the effects of rising income of the government of India on individual free will. One could largely escape the tyrannical 'system' in say 80's or 90's by not being a part of it. However as the government of India has grown richer bureaucratic oversight of individual's lives has not decreased but steadily increased.<BR/>-ttarunhttps://www.blogger.com/profile/01896144197925207165noreply@blogger.comtag:blogger.com,1999:blog-19649274.post-1832515219092992622008-09-09T22:54:00.000+05:302008-09-09T22:54:00.000+05:30Ajay,In you comments regarding the state of Indian...Ajay,<BR/>In you comments regarding the state of Indian democracy, you assert that "intellectual life in the universities [...] has run steadily downhill for the last 50 years". How, in your opinion, was intellectual life better in the universities, say, 10 years ago?Harikrishna Rhttps://www.blogger.com/profile/12578993443302248580noreply@blogger.comtag:blogger.com,1999:blog-19649274.post-32206464247596293372008-09-09T22:52:00.000+05:302008-09-09T22:52:00.000+05:30Since you mention Dani rodrik. We might as well as...Since you mention Dani rodrik. We might as well ask "Will Democracy come apart ?", "Will nation state come apart?"<BR/><BR/>Rodrik has made a very convincing argument about the trilemma of free trade, democracy and soverignity;that you cannot have all three but only two.<BR/><BR/>Your argument assumes(implicitly) democracies would be OK with giving up sovereignty and I don't see that happening without a major crisis.<BR/><BR/>-vAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-19649274.post-8565984318964825432008-09-09T22:42:00.000+05:302008-09-09T22:42:00.000+05:30No. But we will have painful short-term blowback d...No. But we will have painful short-term blowback due to impending dollar collapse. China, Russia, India are largely irrelavent players.<BR/><BR/> The ball is in american court.<BR/><BR/><BR/>-vAnonymousnoreply@blogger.com