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Preview: Comments for Atanu Dey on India's Development

Comments for Atanu Dey on India's Development

Economics, Policy and Government

Last Build Date: Thu, 22 Feb 2018 16:55:26 +0000


Comment on Guess who said this by baransam1

Thu, 22 Feb 2018 16:55:26 +0000

It may explain why Trump is so wildly popular among his fan base. Most of the times, he sounds genuine.

Comment on Prospects for Indian Development Models – Prelude by keshavbedi

Thu, 22 Feb 2018 04:10:12 +0000

In my opinion, the fundamental flaw in the second part of the video is to reduce the so called 'western model' to a model of economics which favors centralization and control.Mr. Gurumurthy evidently has in his mind the top down approach of Keynes when he speaks, thinking this to be the sole 'western model.' However, there's already abundant literature in economics, which came from the west, and which has strenuously stressed on Decentralization. Also, when he speaks of 'Western model' and 'Indian Development Model', the implicit assumption is that economics is not a science, for if it is, his whole talk is not only meaningless but nonsense. Economists have always argued on how the science of economics is to be done(Whether a priori theorization or building laws inductively or empirically).But no economist of importance has ever argued that economics is not a science. As regards the first part, his claim that 'economics transcended sociology via Max Weber', and that the whole of neo classical economics came from his work can hardly withstand to the scrutiny of history of economic thought.

Comment on Guess who said this by Atanu Dey

Thu, 22 Feb 2018 04:06:31 +0000

Rohit, You are right. (BTW, comments are held for moderation. That's why they don't appear immediately.)

Comment on Prospects for Indian Development Models – Prelude by Akshar

Thu, 22 Feb 2018 03:18:09 +0000

As a lay person one of the question I have always had in my mind about economics is that how exactly should I separate good opinion from bullshit vending. I know nothing about medicine but visiting Yelp gives me a fair idea of who is a better doctor in this area. I do not know how bread is made and yet the cost of bread in whole foods tells me which one is likely to be better. I do not know how to fix a car but again Yelp helps me find the better mechanic. What is different between above three examples and economics is that bad economists do not necessarily go out of business with time. Dr. Paul Krugman who once claimed internet will simply vanish in some time continues to be employed and invited for talks as an expert on these subjects. An economist does not pay price for his wrong opinions. Economists do not have that kind of skin in the game. Coming back to Mr. Gurutmuthy's words about "Indian Development Model", how do I evaluate all this claim ? If Mr. Gurumurthy sets up a company (or adopts some village) which operates on this new development model and achieves some kind of tangible excellence. Otherwise for ordinary layman it is just words. (This is pretty much like how Henry Ford's assembly line way of manufacturing or Japanese manufacturing processes like Kanban etc. proved to be superior or the alternatives). Then comes the second question. If as a layman I can't tell the difference between informed opinion on economics v/s Bullshit why should I take Mr. Atanu Dey more seriously or why should I waste my time supporting Milton Friedman's ideas. I find that whenever an economist argues in favour of individual liberty he is arguing my case because I see that me getting more freedom can only have a positive impact on my life. So my litmus test for such talk is mostly "is he arguing that all people should get more freedom from government or experts? " From the video 1 I have watched Mr. Gurumurthy seems to criticise Individualism. Sorry to say but it does not pass my BS filter.

Comment on What’s a good health-care system? by Atanu Dey

Tue, 20 Feb 2018 17:45:45 +0000

TheFreeIndian, You write, "But such demands [to privatize public sector banks] evoke a horrified NO! from many, who say “look private banks caused the 2008 meltdown, you want that?”…So what would you say to them??" The answer in brief is that the 2008 financial crisis was the result of government intervention in the banking sector. The government, through its regulations, forced lending agencies -- private, semi-private and public -- to make loans that had little chance of repayment, the so-called "sub-prime" loans. That was the cause of the crisis, and it had little to do with whether the banks were private or public. I recommend an awesomely funny video that explains the subprime loan crisis. Go check out this post from Jan 20018 - over 10 years ago: The Financial Crisis According to the Long Johns.

Comment on The Human Freedom Index 2017 by Atanu Dey

Tue, 20 Feb 2018 17:36:09 +0000

Akshar, precisely so. All these Western standards are meant to show India in a poor light. The Dharmic Freedom index will demonstrate that Indians are the freest in the world, and that it is also the most materially prosperous. The Western hegemony must be destroyed, root and branch. Down with Western imperialism!

Comment on The Wednesday Lunch Club by Atanu Dey

Tue, 20 Feb 2018 17:32:31 +0000

Akshar, you are right that it was Groucho who made the statement that he would not be a member of a club that would have him as a member. I knew that, and I have often confused Twain and Marx. Thanks for catching that error.

Comment on The Wednesday Lunch Club by Akshar

Tue, 20 Feb 2018 17:29:30 +0000

Mark Twain famously joked that he’d never be a member of a club that would have him as a member.
I think it was said by Groucho Marx.

Comment on The Human Freedom Index 2017 by Akshar

Tue, 20 Feb 2018 17:25:44 +0000

Clearly India needs a Dharmic freedom Index. These western constructs of "freedom" are superficial. ;)

Comment on What’s a good health-care system? by Akshar

Tue, 20 Feb 2018 17:11:26 +0000

In spite of all imperfections, US is the freest society. Why is market unable to auto correct itself in the US? I wonder.
Atanu has already covered that point in first paragraph. Healthcare in USA is one of the most heavily regulated sector perhaps more than in India. For example I don't think any Indian doctor or hospital worries too much about malpractice law suites, in USA every doctor has to buy insurance against it and recover the cost from patients. More regulations invariably hurt both producer and consumer. But then look at the unregulated/less-regulated aesthetic medical procedures. Fixing your node costs you around $18k in USA, increase boobs size costs $12k, LASIK on one eye costs around $3k. Adjusting for PPP I think this is way cheaper than India or most other countries. Not to mention the technology and techniques used in these surgeries has only gone better with time. That is what market competition generally does. I recommend you watch this :