Interesting Read

The following are some interesting reading, i happen to read and ponder!

1. China’s opacity contributed to spiralling corona infections and deaths. Its geopolitical effects will be long lasting
2. UN, WTO and now WHO: Ailing acronyms all
3. Was Islamic Conquest of India Easy for Muslim Invaders
4. The saga of lockdown: India has shown extraordinary solidarity, forbearance and leadership skills
5. A perception battle too is going on

Professor Bhagwati's Poor Economics!

During the debate on Sen vs Bhagwati, I uttered to a friend that I am not big fan of Professor Bhagwati. I could not give him a good solid reference, but here goes:

For all those Indian liberals especially my generation I wanted to inform them what Prof.Bhagwati said about Prof B R Shenoy (1905-1978). While reviewing Shenoy's book (Indian economic policy, 1968) in the Economic Journal in 1969 (Vol. 79, No. 315 (Sep).

Prof Bhagwati said:

"his overall view of Indian economic policies is flawed seriously by his antipathy to planning per se"

Bhagwati also did not agree on Shenoy's criticism about foreign aid. 

This is what Bhagwati said about Shenoy on foreign aid:

"his unfortunate tendency to condemn foreign aid (which he shrewdly sees as making the expansion of the public sector relatively more rapid and easy) for the wrong reasons."

Some people argues that Prof.Bhagwati might be too young and have changed his views about Shenoy in later years but that seems not very clear. When Bhagwati wrote the above lines, he was about 35 year old and was educated in England and USA. It seems to be that he was like any other typical persons who had views of mainstream economists.

What I wanted to say is that we should not forget these facts while crediting for his good old ideas of advocating for globalization, liberalization, free trade etc. Even he changes his views about Shenoy, it is still important for me to judge him his economic thoughts. We know he was one of economic adviser to Indira Gandhi in the 60s. "Mrs. Gandhi followed the advice of her economic advisers, including Bhagwati, and devalued the currency, with all its attendant complications".

Another point is that while Bibek Debroy accuses Manmohan Singh for coining the Garibi Hatao slogan for Indira Gandhi, why not for Bhagwati for his role in devaluing the rupee in Indira Gandhi's government?

Very pertinent points

Indian historian on "historians (as well as citizens) may well come to regard Manmohan Singh’stwo terms as prime minister as wasted years."

SSA Aiyar on "Worse, the new judgment could set off an avalanche of political vendettas. Politicians often launch false cases against opponents, sometimes in connivance with partisan judges. This deplorable ploy may be strengthened by the latest judgement. We desperately need to cleanse Indian politics, but not in this manner." More here.

Quite surprising and shocking analysis. "Another disturbing aspect of American aid agencies is their support for violent groups like the Maoists. Maoists are able to wage a prolonged war and purchase sophisticated weapons only because wealthy nations support them with money and indulge in propaganda on their behalf. Indian Maoists receive support from Jimmy Carter and the international “human rights” lobby." 

B.R. Ambedkar, the Republican!!

Mr.Chandrabhan Prasad writes: 

• It was at this point that Dr Ambedkar wrote in his manifesto of 1951: “It is a fact that on the day of India’s Independence, all nations were the friends of India...Today, the situation is just the reverse. India has no friends…The change in the situation is the direct result of the foreign policy that our country has followed. Wanting China to be a part of the UN and taking a stand on the Korean War — why should India want to fight China’s battle. This championing the cause of Communist China by India has been responsible for the prevailing antagonism between India and the US. It has become impossible for India to obtain financial and technical aid from America.” (Pg 395-396, Vol. 17, Part One)

• Dr Ambedkar realised the importance of having the US as a friend 60 years ago. Something that our leaders are thinking of doing today.

• Dr Ambedkar was so inclined towards the US in 1946, that at one point of time he had wanted India to be named United States of India after Independence. He also named his party — Republican Party of India, inspired by SSA’s Republican Party. But, why was Dr Ambedkar so enamoured the US?

NRI’s Right to Vote Soon

The Minister of Overseas Indian Affairs, Shri Vayalar said that the Parliament has passed the bill on Voting Rights to NRIs into an Act. Two rounds of discussion with Election Commission on procedures for enrolment and methods of votes have been completed. He hoped that around 10 million Overseas Indians, who have Indian Passports, would be benefited from this.

“Puzzle” triggered in foreign aid

“Countries that have relied less on foreign finance have grown faster. “