The Economist says: Some people complain that India’s sprawling democracy is unpredictable. In “A Bumpier But Freer Road“. From the Economist article:
Even when the government has made a decision, it is subject to challenge in court or by public opinion. Sometimes it is hard to tell who is in charge. ”Don’t tell the Indians I said this, but I’m more comfortable in China than India,” says a prominent Western banker. ”It’s much easier to deal with the well-understood ‘org charg’ of China Inc. than the free-wheeling chaos of India.
WTF?! Really, a Western banker would rather deal with an authoritarian system that can impose decisions on the restless peasants than have to work within a system where he might have to actually work within the constraints demanded by the masses?
It’s abundantly clear that far too many bankers have little positive to contribute towards governance, democracy and institution-building. The financial crisis reveals that bankers have all but completely captured Western governments, especially that of the United States.
The bankers’ opinion is without value. Why do we keep asking what they think? Nuff said.
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- India’s economy: India’s surprising economic miracle (economist.com)
- Star Special Editon: India cannot help but be complex (thestar.com)