"even more importantly, the non-creation of millions of reasonably paid jobs, adding to potential recruits to Naxalism."
Come on, do not be a kid... you think the job creation by some bloody glorified money making companies will help mitigate naxalism?!!!
The author must be totally aloof of what leads / has lead to naxalism. The author must have noticed that India is so called "booming" at 7-8% growth a year in the last 5 years and still naxalism is on the rise.
Why is that?
I would not go into the answer here... but I think any sensible and related person would know.
Author sir... plz do your homework before making such comments! After all rediff has some prestige.
RE:A comment
by Arunotpal Roy on Feb 12, 2008 07:58 PM Permalink
The author is one of the most respected commentator on Financial Markets. I read his articles avidly in Business Standard and would recommend that you do the same.
As for the facts:
1. Money making companies will create more jobs because it helps them make more money. They not only create direct jobs, but also jobs in ancillary industries and services.
2. Market Economy and the "Capitalist System" may not be the perfect economic system, but it is the only system that has worked. The alternative systems have been tried and they failed miserable at a great cost in lives and opportunities forgone.
3. The cause of Naxalism is not money making companies but money sucking governments that have failed to provide education, law and order,responsive judiciary and implementation of laws. The Naxalite problem is due to the failure of governance not due the failure of the market economy.
RE:Jayasurya's 23 runs in Sreesanth's 1 over..2 big sixes
by amit kumar on Feb 12, 2008 01:30 PM Permalink
but kuku where is ponting's wicket?????????hired by aussies
RE:Jayasurya's 23 runs in Sreesanth's 1 over..2 big sixes
by amit kumar on Feb 12, 2008 01:16 PM Permalink
righ now i m watching kiwis' raining 4s&6s on sab tv
FED IS THE REAL CULPRIT OF ALL THE MESS WE ARE GOING TO FACE FROM HEREON. GREAT DEPRESSION ALL OVER THE WORLD. WHY TO LOOK AT OTHERS PANTS WHEN THEY HAVE WHOLES.
U.S. IS FORGOTEN STORY - NO COMEBACK FROM HERE.
ECB HAS NOT CUT RATES. CHECK YOUR DETAILS. THEY ARE MAINTAINING . WHICH PART OF THE WORLD ARE YOU IN?
A SCRAP DOCUMENT WITHOUT FUNDAMENTALS.
INFLATION - PETROL NOW AT 55 / - WHAT IF AT 250 ? WILL IT NOT PULL DOWN THE PROFITS OF THE COMPANIES WHICH INTURN END UP IN RECESSION.
WILL YOU ACCEPT STAGFLATION - ONLY RICHES OF FEW HUNDERDS CAN AFFORD INFLATION - WHAT ABOUT BILLION PEOPLE WHO CANNOT AFFORD IT.
YOUR NEED STRONG CURRENCY TO ADDRESS INFLATION AND ONLY A STRONG CURRENCY CAN GIVE SELF-SUFFCIENT ECONOMY - NO NEED TO RELY ON OTHER COUNTRIES.
HAIL REDIFF FOR YET ANOTHER SCRAP DOCUMENT DISPLAY.
India is different because our policy makers want our economy to slowdown completely before they take any action.They are forgeting that prevention is bette than cure and once the situation becomes complete out of control then it will start a blame game.
RE:complete slowdown
by Saths on Feb 12, 2008 01:03 PM Permalink
Amit you're wrong. Economy over heating is very bad rather than slowdown. Look at China fighting real hard to control the overheating economy. If RBI cut rates then banks will start lending more money. We are already getting a million calls to get cards,variety of loans etc. But repayment is what matters. As more and more defaulters appear banks revenue will be hit severly. The speulators are out wanting to make more money from the stock markets are creating all sorts of rumours so RBI would cut rates. I hope RBI does not budge and keeps the rate unchanged.
RE:complete slowdown
by V S on Feb 12, 2008 01:03 PM Permalink
yes even a part time mba can suggest that cutting interest rates and increasing growth will reduce poverty.
However , our govt is more interested in keeping inflation low and also keeping growth low so as to stay in power.
It seems short term thinking and sarkari attitude is still prevalent in many govt. run institutions.
