Jamestown

Apparently some Democrats object to the idea that Jamestown was run as a socialist enterprise, as Dick Armey pointed out. They say “Oh, no Jamestown was established as a capitalist venture to make a profit.”  Well, that’s true, but internally (which is the only thing that matters) it was run in the same way . . . → Read More: Jamestown

The Political Economy of Europe and the U.S.

In yesterday’s edition of NY Times, Paul Krugman opened a puzzling discussion on the economic performance of Europe relative to the United States (link), suggesting that the European model of social democracy is an envy for economic success compared to the U.S economy.

How Leftist is India?

I wrote a column in Financial Express on Friday: How leftist is India?. This draws on the data shown in this previous blog post. I just noticed a piece in The Economist which dwells on related themes which is well worth reading.

Many people wrote me email about this piece. An important criticism of . . . → Read More: How Leftist is India?

Statists and Power

As mentioned in my previous post, most businessmen will do anything they can to preserve their position.  This extends to people in all realms.  Whether manufacturers, farmers, financiers, academics or politicians, those who wish to preserve their power will promote as many measures as necessary to do so.  In the case of those in . . . → Read More: Statists and Power

The Trading Hours Controversy

Shifting away from central planning

Traditionally, Indian socialism has involved government control of all aspects of financial products or processes. As an example, government specified the time of day at which trading starts and the time of day where it stops. The RBI committee process on currency futures and interest rate futures specified that . . . → Read More: The Trading Hours Controversy

On the Principle of National Healthcare

“Government is the great fiction through which everybody endeavors to live at the expense of everybody else.” – Frederic Bastiat

Pundits, pontificators and plebeians all have polarized around the issue of national healthcare. Many have spoken wisely on the pros and cons of the proposed system, a heartening fact given the . . . → Read More: On the Principle of National Healthcare

Socialism

Received the email “parable” below today. Interesting that I received it just after reading Chris Leithner’s latest newsletter (yesterdays post) – synchronicity?

An economics professor at a local college made a statement that he had never failed a single student before but had once failed an entire class.

That class had insisted that socialism . . . → Read More: Socialism

Workers Of The World Unite

Socialism is alive and well. In America, as elsewhere, however, the socialist movement isn’t and never has been a worker’s movement, as it has been made out to be. Socialism has been, from the start, a movement of intellectuals. It festers on college campuses. It is a framework constructed by very smart people who . . . → Read More: Workers Of The World Unite

From FDR to Obama – the Destruction of Our Rights

Franklin Delano Roosevelt proposed a “Second Bill of Rights” during his State of the Union Address in 1944. He noted that while “under the protection of certain inalienable rights…our nation has grown in size and stature, however—as our industrial economy expanded—these political rights proved inadequate to assure us equality in the pursuit of happiness….true . . . → Read More: From FDR to Obama – the Destruction of Our Rights

What if India had a Hong Kong?

An alternate history that I find interesting is a scenario where, in 1947, the British kept one city in India – e.g. Surat. This is analogous to the British control of Hong Kong in China after the communist revolution.

Why is Surat interesting for such an analysis, and not Bombay? It sounds too implausible . . . → Read More: What if India had a Hong Kong?