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Date: Sat, 10 Jan 2009 11:41:32 +1100
From: "Ruby Goes" <[email protected]>
http://www.voanews.com/english/2009-01-09-voa29.cfm
Long live Capitalism!
Mario responds:
Ruby,
Since you seem to have missed it, Satyam was not a failure of capitalism but
the failure of one man. Capitalism is what finally made India's economy the
power it is today, after they rejected the previous system under the leadership
of Manmohan Singh, a clueless system adopted after independence which had
caused untold misery mostly for poorer people. This went on for some 50 wasted
years and made many non-salaried Indians habitual tax cheats and black
marketeers and bribers in order to bypass the mindless bureaucracy and to
avoid confiscatory income taxes. These tendencies are now slowly beginning to
disappear, very slowly.
Under capitalism frauds are soon exposed, arrested and prosecuted. Under the
alternative, it is typically impossible for the protelariat to tell when fraud
is taking place because it is mostly being perpetrated by the bureaucrats and
the ruling elite and their friends and cronies who run the system for their own
benefit while the protelariat are like clueless sheep. This continues until
the system implodes as we saw in the old Soviet Union and China. India was
rescued from further economic malaise and disaster by Manmohan Singh.
