"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.
