Rotten Economic News Continues to Stream Out of India
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  • Mexipat

    Work hard, excel at what you do, live within your means. Individuals, groups, and countries who attempt to circumvent these basic maxims will, sooner or later, fail. Oh, and there’s no free lunch. Not very original or profound I know, but apparently easily forgotten or ignored – especially by “elites” who never internalized them from personal experience.

  • EvilBuzzard

    The US of A had similar hiccups along the way to industrialization. http://www.conservapedia.com/Panic_of_1893

  • Ben Samuels

    “An paralyzed and ineffectual government”

    I can haz proofreader?

  • I recall India as a loyal ally of the Soviet Union, so this is no surprise.

  • Adjoran

    Unfortunately, this was inevitable. The Indian economy is hamstrung by its corrupt bureaucratic system, the Raj. It takes years to get permission to expand a factory, sometimes even to buy new equipment.

    It’s the sort of regulatory nightmare Obama is presently trying to construct for us.

  • pashley1411

    Just another place where the elites are fighting progressive, and could use a revolution. We could as well.

  • bhollis

    Reading Katherine Boo’s recent book about a Mumbai slum, the most striking thing isn’t the poverty and misery (though there’s plenty of that), it’s the corruption. It exists at every level of Indian society and it’s so deeply ingrained that it could take many generations to escape.

  • Krishna

    Poor donk does not know that the Soviet Union does not exist anymore.

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