Q: What is common to swine flu, a weak monsoon, climate change, America’s financial crisis and Pakistani terrorism?

August 11, 2009 — drsubrotoroy

A: They are all external or exogenous factors that the Government of India’s leaders, spokesmen and other apologists adduce to explain away endogenous economic outcomes arising from bad fiscal and monetary policies, pork-barrel politics, lobbying by organised Big Business and Big Labour, political and bureaucratic corruption etc.  (And the Parliamentary Opposition is hardly any better, probably worse…)

More to come…

Subroto Roy

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Posted in Economic Policy, Economic quackery, Economic Theory, Economic Theory of Value, Economics of Public Finance, Government of India, India's bureaucracy, India's Monetary & Fiscal Policy, India's nomenclatura, India's political lobbyists, India's political parties, India's Politics, India's pork-barrel politics. Leave a Comment »