I am waiting to read reports of people rioting in India any day now. A bunch of innocents will get killed. An already poor India will slide epsilon-degree closer to chaos.
For a multi-faceted view of matters related to the Indian economy, I recommend the aptly named Indian Economy Blog. It is a group blog and the contributors are well-known and well worth reading. I am listed as a regular contributor but I am afraid that I have not contributed much regularly. I intend to rectify that error shortly.
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A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largess of the public treasury. From that time on the majority always votes for the candidates promising the most benefits from the public treasury, with the results that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world’s great civilizations has been 200 years. These nations have progressed through this sequence: from bondage to spiritual faith; from spiritual faith to great courage; from courage to liberty; from liberty to abundance; from abundance to selfishness; from selfishness to complacency; from complacency to apathy; from apathy to dependency; from dependency back again to bondage.
Sir Alex Fraser Tytler (1742-1813), Scottish jurist and historian, professor of Universal History at Edinburgh University.
Along the lines of my earlier post on new political parties, here is another item from the news related to Indian politics regarding an NRI member of the Indian parliament from the Toronto Star. (Hat tip: Reuben Abraham.)
The man, Madhu Yaskhi, moonlights as an MP for the Congress Party and his day job is being an immigration lawyer in Manhattan.