Wednesday, October 05, 2005

Benefits of being part of a capitalistic country

I am a strong proponent of capitalism. I felt that the reason why India is on the slow track to progress is because of the
1. Government regulating all businesses in the country very closely. This leads to needless red tapism which slows down processes.
2. Nationalizing everything under the sun....hotel chains, natural gas, banks, telecommunications, fertilizers....the list is endless. Thankfuly someone came up with the bright idea of privatization.
3. The third reason is a by product of the second reason: Corrupt government babu's wanting a cut out of everything, making people think twice before setting up shop in India.

But such instances now makes me feel otherwise. A calamity of such sort in India would guarantee the centre backing the state completely. Banks wouldn't see the commerical viability of giving loans to the state when they are in such a desperate situation. Probably New Orleans would have been better of if they were a part of India.

2 Comments:

Anonymous vetti said...

but arent those city workers government employees? ..and who needs a bank loan with all that aid the federal govt is dishing out?

11:17 AM  
Blogger pagala'k' said...

They are government employees machaan, but they are just individuals. The people who have been fired are city/municipal workers. Where are they to go now? If there is so much federal aid being dished out then the Mayor doesn't think its importantt o direct it towards these people and keep them employed in their hour of need.

1:50 AM  

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