Tuesday, October 4, 2011

Reading history of Indian economics

Arvind Kumar & Arun Narendhranath have written a 7 part series of articles on Indian economic history covering a range of issues in the last sixty years.

A bit from the concluding part:

  • "The government must respect the rights of the people by getting off the fiat currency regime and allowing the unregulated use of any commodity including gold as the currency. In addition, it must shutter the Reserve Bank and stop interfering in the interest rate market. Such steps together with curbs on the fractional reserve banking system will lead to a stable economy with a stable currency."
I strongly recommend to read all the seven part articles from here. It is worth reading them and of course will have to ponder over a few issues/policy suggestions.

But never think that those ideas/suggestions are not from our our country!!

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