No very deep knowledge of economics is usually needed for grasping the immediate effects of a measure; but the task of economics is to foretell the remoter effects, and so to allow us to avoid such acts as attempts to remedy a present ill by sowing the seeds of a much greater ill for the future. —- Ludwig von Mises
Indian policy makers’ optimism is matched only by their short-sightedness when it comes to dealing with matters of national security. To recount all the instances when they have been caught with their pants down would require a book-length treatment, not a short few paragraphs on a blog. But I cannot pass up the latest blunder in the making. I hope that I don’t have to say I told you so in a few years’ time. I hope I am wrong in my analysis but I am afraid that I will be proved right.