Economic Growth, Population and Poverty Numbers

I normally don't do numbers. But in this post, I will have to refer to numbers because wealth and poverty have to be understood quantitatively too. So let's do the numbers. It is an amazing fact that extreme poverty has fallen both in absolute and relative terms. The world’s population living in extreme poverty has … Continue reading Economic Growth, Population and Poverty Numbers

The British are Gone but the British Raj Lives on

"It was [in India] the British learned the art of imperial power. ... India was decisive. It gave Britain the resources, the market, the manpower, and the prestige to build a world-wide empire. And in the years to come they worked feverishly to secure that prize." The British Empire could not have been possible … Continue reading The British are Gone but the British Raj Lives on

Strangling the Politicians

In my last post, On the Distress of Farmers, I wrote "that Indians will never be free until the last politician is strangled with the entrails of the last bureaucrat." I was echoing the European Enlightenment figure Denis Diderot (1713-1784) who wrote: La nature n'a fait ni serviteur ni maître; Je ne veux ni donner ni … Continue reading Strangling the Politicians

On the Distress of Indian Farmers – The Introduction

Of the three major sectors of any economy, agriculture is the primary sector. It is prior in time and naturally enough forms the basis for the other two sectors -- manufacturing and services. Without a solid foundation provided by an efficient agricultural sector, no society can prosper. Everybody -- factory workers, quantum physicists, doctors, programmers, … Continue reading On the Distress of Indian Farmers – The Introduction

Does capitalism destroy jobs?

If by capitalism one means “free market exchanges and production through the use of privately owned capital”, then indeed capitalism destroys jobs -- those jobs that are made redundant by increasing the productivity of labor. Imagine an economy which only produces food, and the only input to food is labor. Further imagine that the productivity … Continue reading Does capitalism destroy jobs?

The Panchatantra — Textbook of Niti

The following is an extended edited excerpt from Arthur Ryder's introduction to his translation of the Panchatantra. What's the book about? Ryder begins his introduction with: "The Panchatantra contains the most widely known stories in the world. If it were further declared that the Panchatantra is the best collection of stories in the world, the assertion … Continue reading The Panchatantra — Textbook of Niti

Did Britain Impoverish India?

Asking "Did Britain impoverish India?" is like asking "Is water wet?" Of course, Britain impoverished India during their rule as the colonial masters of India. To extract wealth from a colony and exploit its people is the primary motivation for colonization. Expecting the colonial masters to be a benign, self-sacrificing force is delusional. Colonization is not … Continue reading Did Britain Impoverish India?