Musings of an Economist

"It is ideas, not vested interests, which are dangerous for good or evil."

Sunday, May 17, 2009

Outside Perspective on UPA Sweeping Elections

Economist:India’s ruling party wins an unexpectedly thumping victory
WSJ: India's Congress Party Set to Return to Power
Posted by Prateek Ancha at Sunday, May 17, 2009

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      • Remarks by Lloyd C. Blankfein,CEO Goldman Sachs
      • Outside Perspective on UPA Sweeping Elections
      • KKR: Green Shoots
      • Succession Battles at Morgan Stanley
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Prateek Ancha
I am a Neo-Classical Economist.Deeply interested in finding plausible reasons for interpreting economic events.I believe in the supremacy of markets.
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"Because we live in a largely free society, we tend to forget how limited is the span of time and the part of the globe for which there has ever been anything like political freedom: the typical state of mankind is tyranny, servitude, and misery. The nineteenth century and early twentieth century in the Western world stand out as striking exceptions to the general trend of historical development. Political freedom in this instance clearly came along with the free market and the development of capitalist institutions. So also did political freedom in the golden age of Greece and in the early days of the Roman era.I want people to take thought about their condition and to recognize that the maintenance of a free society is a very difficult and complicated thing and it requires a self-denying ordinance of the most extreme kind. It requires a willingness to put up with temporary evils on the basis of the subtle and sophisticated understanding that if you step in to do something about them you not only may make them worse, you will spread your tentacles and get bad results elsewhere." Milton Friedman