Bit by Bit — Tiny Steps Toward a Totalitarian Solution

No sufficiently distant goal is achieved in one big step. But take enough number of small steps in the correct direction consistently, and you are guaranteed to reach your destination. Recall the "digital" solution that Ajit, the archetypal Bollywood villain of the past, once adopted to get rid of the hero. He told his minions … Continue reading Bit by Bit — Tiny Steps Toward a Totalitarian Solution

Ask Me Anything — The Demonetization Edition

Money is important. The real economy cannot function without a stable and predictable currency. Money serves as a numéraire, which the wiki defines as "a basic standard by which value is computed . . . the numéraire is one of the functions of money, to serve as a unit of account: to provide a common benchmark … Continue reading Ask Me Anything — The Demonetization Edition

Liberalism in India: Past, Present and Future

The Center for Civil Society convened a day-long conference on Nov 20th at The Claridges Hotel, New Delhi, to honor the memory of S V Raju. I attended and had the opportunity to meet with many friends and also some people I had heard about but never met before. About the event, CCS notes: "SV … Continue reading Liberalism in India: Past, Present and Future

Democracy and the Economics of Politics

“Power tends to corrupt and absolute power corrupts absolutely. Great men are almost always bad men . . .” The truth of Lord Acton's observation gets confirmed with sickening regularity. Here I explore that point in the context of democracy. Why do democracies, particularly those with powerful governments, tend to elect bad people? What’s the analytical relationship … Continue reading Democracy and the Economics of Politics

India’s Prosperity is Made in India

I am not a fan of the Modi government's "Make in India" advertising drive. My view is certainly unpopular. I think that advertising cannot (and must not) replace real changes in policies that could make India attractive to domestic and foreign manufacturers. As it happens, the prevailing sentiment, even among many domestic manufacturers, is that India … Continue reading India’s Prosperity is Made in India

My assessment of Modi government

I have been a long-time supporter of Shri Narendra Modi. But I am seriously disappointed at his performance as prime minister. Certainly he has done better than his predecessor, Sonia Maino. But she's an Italian who really did not care for India. Doing better than Sonia Maino is no achievement. I expected better than this … Continue reading My assessment of Modi government

Speaking of Freedom of Speech

"If the freedom of speech is taken away, then dumb and silent we may be led like sheep to the slaughter." --George WashingtonThe importance of the freedom of speech is underestimated by most people. George Washington stressed the instrumental role of the freedom of speech -- as a defense against oppression. But freedom of speech, … Continue reading Speaking of Freedom of Speech