Debunking Myths about China and India

Pranab Bardhan, a professor of mine at UC Berkeley, whom we have met before here (see Crouching Tiger, Lumbering Elephant, and Pranab Bardhan on the Indian Economy, for instance) has an excellent article in the Boston Review titled “What Makes a Miracle: Some myths about the Rise of China and India.” (Hat tip: Yuvaraj Galada.)

He states the standard view explaining the rapid growth of the two countries:

What explains this strikingly rapid growth? The answer that continues to dominate public discussion in the United States runs along the following lines: decades of socialist controls and regulations stifled enterprise in India and China and led them to a dead end. A mix of market reforms and global integration finally unleashed their entrepreneurial energies. As these giants shook off their “socialist slumber,” they entered the “flattened” playing field of global capitalism. The result has been high economic growth in both countries and correspondingly large declines in poverty.

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Rewriting Indian History: Book review by CJS Wallia

The following is a review of Francois Gautier’s Rewriting Indian History. (New Delhi: Vikas Publishing 1996). The reviewer is C J S Wallia who writes:

From my own perspective as a secular humanist, I believe that any whitewashing of historical record is counterproductive. No matter how lofty the ideals of a current cause, any whitewash of history tempts the fates. To forget history will always be fateful; to forgive its horrendous facts can be redemptive. Forgive — but never forget — history.

I, like the millions of others of my generation, grew up basically ignorant of Indian history as I had only been taught the Nehruvian pseudo-secular socialist government-sanctioned propaganda “history.” Now it is time that we free ourselves from the government brainwashing by reading alternative viewpoints critically. I bow deep in gratitude to the internet gods for allowing some light to shine through the darkness that Nehru imposed.

The review is continued below the fold.
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Sunday Silliness: West versus South Carolina

The following is a 1-minute video of a contestant in the Miss Teen USA 2007 contest. The video has been viewed around 22 million times on YouTube and accumulated over 65 thousand comments, and hundreds of video responses. Here’s Miss South Carolina attempting to answer a question which explores why many Americans are ignorant of basic geography:

Obviously she’s in the spotlight because she is pretty, and most certainly better looking than 99.99 percent of the population. But nature perhaps balances it out in her case by making her dumber than 90 percent of the population. It’s her beauty that brought a bit of fame, and her lack of brains that gave her a whole lot of notoriety. That’s the luck of the draw. And I suppose there’s a bit of envy of her looks that prompts the fun that one has in seeing her babble. But here’s a video response that has a very pretty face:

Clearly Miss West Carolina is not only very pretty but also articulate. And if she wrote the script as well, I say that she’s a pretty smart cookie. There’s a case of beauty and brains. I think Miss W Carolina is much much prettier than Miss South Carolina. (Miss South Carolina need not reach for her map to locate West Carolina on it.)

The 2008 Post on Sri Sri Ravi Shankar

Some readers have been asking, “Atanu, when will you write more about SSRS?” As luck would have it, I got an email from someone who has actually met the man. He wrote me a very nice email saying that he has read all the SSRS posts patiently and then proceeded to inform me that he disagrees with me. That is not the least surprising as I am sure that an overwhelming majority of people won’t agree with me on anything of substance. That’s because my point of view is different from that of the majority, and the difference in the point of view is the result of differing life experiences. I merely state my opinion and note the differences and move on. Differences are good because otherwise it would be rather boring if we all had the absolutely same opinion.

Anyway, here’s my response to the gentleman, for the record.
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The Stock Market

The other day, a BBC producer from London called me up and asked me if I would care to comment on the recent big sell-off in the Indian stock markets. I confessed that I am not fully qualified to do so but added that in all honesty that my guess would be as good as any one else’s. Still I declined. The best we can do is pull out Keynes’s “animal spirits,” which unfortunately is not amenable to rigorous scientific or economic analysis. The essential story of the stock market is well told in this cartoon.

That pretty much sums up how the stock market swings between fear and greed, the abrupt change from panic to irrational exuberance. And here are The Long Johns (John Bird and John Fortune) on turbulence in the financial markets. As one of the Johns so astutely observes, “You have to remember two things about the markets. One is, they are made up of very sharp and sophisticated people. These are the greatest brains in the world. The second thing you have to remember is that financial markets — to use the common word — are driven by sentiment.” I won’t spoil the fun for you. Just watch the video and fall off the chair laughing.

That’s why I don’t mess around in the stock market. 🙂

New Bush Coins

http://blip.tv/scripts/flash/showplayer.swf?enablejs=true&feedurl=http%3A%2F%2Ftheblimp%2Eblip%2Etv%2Frss&file=http%3A%2F%2Fblip%2Etv%2Frss%2Fflash%2F525805&showplayerpath=http%3A%2F%2Fblip%2Etv%2Fscripts%2Fflash%2Fshowplayer%2Eswf

(Hat tip: Jan Manik)

Jacob Bronowski (1908-1974)

Just a few days over a century ago Jacob Bronowski was born in Poland. Among the people whose sojourn on this material plane overlapped mine and whom I admire, Bruno (as his friends and family called him) is up there with a select few. I consider him to be one of my spiritual teachers in the sense that his work has nourished my spirit over the years since I first read his words and then later watched his BBC production of The Ascent of Man. I still have the tattered book with me which I had acquired about 25 years ago and every now and then re-read to enrich the soul and receive solace after a long immersion in the dismal science.
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Links: Secular Road to Hell

Arvind Lavakare’s piece in sify titled “Let us all salute Narendra Modi” includes a quote from a letter that K M Munshi wrote to Jawaharlal Nehru:

In secularism’s name, politicians adopt a strange attitude which, while it condones the susceptibilities, religious and social, of the minorities, it is too ready to brand similar susceptibilities in the majority community as communalistic and reactionary. How secularism sometimes becomes allergic to Hinduism will be apparent from certain episodes relating to the reconstruction of the Somnath Temple…These unfortunate postures have been creating a sense of frustration in the majority community. If, however, the misuse of the term ‘secularism’ continues,…if every time there is an inter-community conflict, the majority is blamed regardless of the merits of the question, the springs of traditional tolerance will dry up. While the majority exercises patience and tolerance, the minorities should adjust themselves to the majority. Otherwise, the future is uncertain and an explosion cannot be avoided.

The Congress’s “divide the country along religious and caste lines and rule” policy will bear very bitter fruits indeed. People are waking up. The springs of traditional tolerance are drying up, as Munshi warned generations ago. Slowly but surely. You see the signs on the internet now and soon it will migrate to the hard copy press.

The Secular Road to Hell by Ramananda Sengupta, chief editor of Sify.

Here’s Shobha Warrier in rediffiland: Modi, a hero.

Open Thread

Go ahead. Speak your mind. Stop lurking if that is what you have been doing. Bouquets and brickbats. Whatever it is, just say it. This is an open thread but like all other posts, the comments close after 21 days.

By the by, I am in Mumbai tomorrow at at panel which is discussing “Inclusive Growth.”