05-29-2007, 10:40 AM
PM Manmohan's Ten Point Social Charter
To which Swapan Dasgupta responds:
Needed: Ethical capitalism
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->The problem with neo-socialists like Manmohan is that they can never get away from their obsession with state control and regulation. The history of the past 15 years has shown that India prospers the moment the "commanding heights" of the economy are given over to market forces. India has progressed from the bad old days of shortages and crippling taxation because the economy is now entrepreneur driven. The Indian corporate sector isn't perfect, but at least, it is fulfilling its rajdharma: Making profits. When will the Government start doing its bit?
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Manmohan advised corporates to keep profits within the bounds of "decency". It would have been even-handed had he also examined the sheer indecency of state-run welfare schemes. The reason the UPA Government is unable to point to tangible achievements after three years is because its profligate schemes such as the Rural Employment Guarantee Scheme is mired in corruption and incompetence. Is the efficiency of entrepreneurship to blame for this colossal ineptitude and "vulgar" waste? Is the Government's failure to curb inflation and keep interest rates to modest levels due to the collective failure of CII members?
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When politicians run out of achievements, they fall back on base instincts. Throughout history, Socialism has been an instrument for arousing envy and deprecating success. It speaks volumes for the bankruptcy of the UPA that the Prime Minister has been reduced to berating Page Three vulgarity and advocating quota - the hoary rich-bad-poor-good syndrome.
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India needs ethical capitalism and a mindset of compassion and generosity. But it could equally do with purposeful and efficient Government. As of now, not only is one side making all the profits and the other side all the losses, but losers actually have the audacity to be sanctimonious about letting Bharat down
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To which Swapan Dasgupta responds:
Needed: Ethical capitalism
<!--QuoteBegin-->QUOTE<!--QuoteEBegin-->The problem with neo-socialists like Manmohan is that they can never get away from their obsession with state control and regulation. The history of the past 15 years has shown that India prospers the moment the "commanding heights" of the economy are given over to market forces. India has progressed from the bad old days of shortages and crippling taxation because the economy is now entrepreneur driven. The Indian corporate sector isn't perfect, but at least, it is fulfilling its rajdharma: Making profits. When will the Government start doing its bit?
Â
Manmohan advised corporates to keep profits within the bounds of "decency". It would have been even-handed had he also examined the sheer indecency of state-run welfare schemes. The reason the UPA Government is unable to point to tangible achievements after three years is because its profligate schemes such as the Rural Employment Guarantee Scheme is mired in corruption and incompetence. Is the efficiency of entrepreneurship to blame for this colossal ineptitude and "vulgar" waste? Is the Government's failure to curb inflation and keep interest rates to modest levels due to the collective failure of CII members?
Â
When politicians run out of achievements, they fall back on base instincts. Throughout history, Socialism has been an instrument for arousing envy and deprecating success. It speaks volumes for the bankruptcy of the UPA that the Prime Minister has been reduced to berating Page Three vulgarity and advocating quota - the hoary rich-bad-poor-good syndrome.
Â
India needs ethical capitalism and a mindset of compassion and generosity. But it could equally do with purposeful and efficient Government. As of now, not only is one side making all the profits and the other side all the losses, but losers actually have the audacity to be sanctimonious about letting Bharat down
<!--QuoteEnd--><!--QuoteEEnd-->